NHA Suspends Interest on Housing Loan Payments

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MANILA, Philippines — Borrowers of housing loans can now settle their dues without incurring any interest charges, even for late payments, according to a top official of the National Housing Authority (NHA) on Tuesday.


Assistant General Manager Alvin Feliciano announced that the NHA has also enacted a one-month moratorium on payments for housing program clients from July 1 to July 31, 2024.


"These directives come from our General Manager Joeben Tai, following instructions from Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development, aiming to provide all necessary support to those impacted by the recent southwest monsoon and Typhoon Carina," Feliciano stated.


He specified that the relief measures would apply only to borrowers from the National Capital Region, Central Luzon (Region 3), and Calabarzon (Region 4), as these areas were the most severely affected.


After the one-month moratorium, Feliciano noted that regular amortization and lease payments will resume on August 1, 2024.


He emphasized that no delinquency or additional interest charges will be applied from July 1, 2024, to December 31, 2024.


Penalties and interest for overdue residential accounts for the same beneficiaries will restart on January 1, 2025, Feliciano added.


These initiatives, including the moratorium and the six-month suspension of interest, are designed to alleviate the financial burden on families affected by the recent calamities, Feliciano explained.


He highlighted that the moratorium is anticipated to benefit thousands of Filipino families with outstanding loans from key shelter agencies.

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