Filipinos affected by Typhoon Kristine and have existing housing loans from key shelter agencies (KSAs) may now heave a sigh of relief as the Department of Human Settlements and Urban Development (DHSUD) has called for a moratorium on these amortizations.
Residents ride a boat as they pass by a house submerged in floodwaters caused by Tropical Storm Trami, locally named Kristine, as it continues to inundate Libon town, Albay province, Philippines on Thursday Oct. 24, 2024.
Filipinos affected by Typhoon Kristine and have existing housing loans from key shelter agencies may now heave a sigh of relief as the Department of Human Settlements and Urban Development has called for a moratorium on these amortizations. DHSUD Secretary Jose Rizalino Acuzar said that the move was in compliance to President Ferdinand R. Marcos Jr.’s directive to allTo date, the National Home Mortgage Finance Corporation has granted a one-month moratorium on its housing amortizations. Other KSAs such as the Home Development Mutual Fund or Pag-IBIG Fund, the National Housing Authority , and Social Housing Finance Corporation are still crafting their guidelines.
Secretary Acuzar has also ordered the activation of all the shelter clusters in the affected areas to ensure smooth validation of IDSAP list from LGUs. Under IDSAP, the DHSUD is providing P30,000 unconditional cash assistance to those whose houses were totally damaged while P10,000 for those with partially damaged.Cai U. Ordinario writes macroeconomic and urban development stories. She has received awards for excellence in reporting on the macroeconomy and statistics. Ordinario is also a Jefferson Fellow of the East West Center in Honolulu, Hawaii.
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