The lead government agency mandated to undertake socialized housing for low-income earners recently announced the easing of rules for loan payments.
In a statement early this week, Social Housing Finance Corp. (SHFC) said it was implementing a three-month moratorium on loan payments. SHFC said the moratorium took effect last March 16 and will end on June 16.
Penalties on accounts whose due dates fall within the said period were also waived.
SHFC said that customers do not need to apply for moratorium.
The socialized housing finance firm said their decision stems from government’s call “to exhaust all efforts to respond to the needs of Filipinos amid the threat of Covid-19 [coronavirus disease 2019] in the country.”
Loan payments in select branches
Customers who still want to settle loan payment on time can do so in select branches of the Land Bank of the Philippines.
The statement of accounts and abstract of collection could be digitally accessed through SHFC Portal to minimize exposure to virus, the finance company said.
“We want to ease the financial burden of our stakeholders as we face this challenge,” SHFC President Arnolfo Ricardo B. Cabling
SHFC was established in 2004 with a mandate to undertake social housing programs for formal and informal sectors in low-income bracket. Apart from SHFC, banks earlier announced that they provided grace period for qualified borrowers amid the Luzon lock down.