MANILA, Dec. 1 (PNA) — Borrowers of the National Home Mortgage Finance Corp. (NHMFC) affected by super typhoon Lando can now avail of a 6-month moratorium on their payables.
All NHMFC borrowers/buyers whose accounts are updated or in current status as of Oct. 17, 2015 are qualified and may apply not later than Jan. 15, 2016. Qualified to avail of the moratorium are the affected areas in Regions I, II, III, IV-A, V, National Capital Region (NCR), and Cordillera Autonomous Region (CAR).
The effectivity of the moratorium shall be for a period of six months effective on the first due date after October 17, 2015. In the event of payment by the claimant during the six-month period, such will be posted after the moratorium.
Applicants must present an original certification from the Barangay Chairman that attests the borrower’s/buyer’s property was damaged by the afore-mentioned natural calamity when applying for the moratorium at NHMFC’s Head Office or at its satellite offices nationwide.
The loan term shall be automatically extended equivalent to the same number of months that the account is under moratorium.
If the borrower/buyer is no longer interested to return to his respective homes/units, he may opt to initiatively surrender his property/ies to NHMFC through dacion en pago.
The client’s loan obligations are subject to such terms and conditions under the laws governing it. (PNA)