Pag-IBIG Fund Offers Pag-IBIG Housing Loan Payment Moratorium for Members Affected by Kristine
PAG-IBIG HOUSING LOAN PAYMENT – The Fund is offering a one-month moratorium for the Housing Loan borrowers residing or working in areas declared under a State of Calamity due to severe tropical storm Kristine.
In the Philippines, millions of Filipinos are members of the Pag-IBIG Fund or the Home Development Mutual Fund. Many of its members have also secured a residential property through the Pag-IBIG Housing Loan offer which is the most popular financial product provided by the state entity.
The Housing Loan offer of the Fund is ready to finance the purchase of a residential property, a house construction or home renovation, or the take-out of an existing home loan. The Fund may also finance the combination of loan purposes.
Another advantage of the having a loan under the Pag-IBIG Fund is the availability of the moratorium or a payment pause in times of emergencies like a calamity has struck the area where the member-borrower resides or works. Currently, there is a Pag-IBIG Housing Loan payment moratorium that Kristine-hit members may avail.
Based on a report on GMA News, there is a one-month Pag-IBIG Housing Loan payment moratorium for the members who are residing or working in areas declared under a State of Calamity due to severe tropical storm Kristine. The suspension of the installment on the approved period will be implemented with “no additional cost”.
There are several areas in the Philippines that are currently under a State of Calamity. Here are some of these calamity-stricken areas due to severe tropical storm Kristine:
- Region IV-A
- Ilocos Region
- Cagayan Valley Region
- Region V
- Region VIII
- National Capital Region (NCR)
The Pag-IBIG Housing Loan payment moratorium program is open until December 31, 2024. Based on the report, the application can be done through the Virtual Pag-IBIG or at the nearest branch of the Pag-IBIG Fund.
“We want to provide relief to our members in the hardest-hit areas as they recover from the impact of the typhoon,” Pag-IBIG Fund Board of Trustees chairperson Jose Rizalino Acuzar said.
In times of calamities, members of the Fund living in areas declared under a State of Calamity may also apply for the Calamity Loan offer. There are requirements that must be submitted to apply for the Pag-IBIG Calamity Loan offer.