State-run Social Housing Finance Corporation (SHFC) has declared a one-month moratorium on monthly payments for beneficiaries affected by Tropical Storm Kristine.
In a statement, Federico A. Laxa, SHFC president and chief executive officer, said the initiative aims to provide immediate financial relief to families struggling in the aftermath of the storm’s destruction.
“We are monitoring the situation closely and are committed to extending the necessary support to help our beneficiaries recover from this calamity,” Laxa said.
“We are hoping that this deferment of housing payments will alleviate the financial burden on affected communities,” he added.
Laxa said the decision for the moratorium follows the directive from Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, aligning with President Ferdinand Marcos, Jr.’s comprehensive disaster response strategy.
Laxa said this coordinated effort aims to provide swift assistance and recovery for families in distress.
For beneficiaries who wish to continue their payments, SHFC has made provisions through various online channels, including GCash, Maya, and BPI.
This flexibility allows those who prefer to maintain their regular payment schedules to do so despite the challenges posed by the storm, he said.
SHFC currently has 12 ongoing projects under the Pambansang Pabahay Para sa Pilipino Program (4PH).
These developments are underway in Crystal Peak Estates in San Fernando City, Pampanga; People’s Ville in Davao City; and Valley View Township in Tagoloan, Misamis Oriental.
These projects are part of a broader initiative to deliver over 505,000 housing units by 2028.
By December, SHFC plans to hand over more than 300 housing units at Crystal Peak Estates and approximately 400 units at People’s Ville.
Meanwhile, the Social Security System and the Government Service Insurance System are also offering calamity and emergency loans to those impacted by the recent typhoon.
The Land Bank of the Philippines is also facilitating quick access to salary loans for employees and providing financial support to cooperatives and micro, small, and medium enterprises for disaster recovery.
Moreover, it will provide financial support to cooperatives; micro, small, and medium enterprises (MSMEs); corporations, and electric distribution utilities for immediate working capital and disaster recovery.
Last Friday, Finance Secretary Ralph G. Recto assured the public that the national government was fully prepared financially to support relief and rehabilitation efforts.
Recto said the government has adequate funds available to facilitate immediate disaster response and bolster local government units' (LGUs) preparedness.
“Rest assured, we have adequate funds in the National Treasury to quickly deliver more critical services and fund post-disaster emergency response, recovery, and reconstruction efforts,” Recto said.