The National Home Mortgage Finance Corporation (NHMFC) announced today the grant of a 3-month moratorium on the payment of monthly amortization to its housing loan borrowers effective March 16 to June 16, 2020, subject to extension should the emergency situation prevail.

This is pursuant to Presidential Proclamation 922 dated March 8, 2020 declaring a State of National Health Emergency throughout the country due to the threats posted by the deadly novel corona virus (COVID 19).

“We are now under a State of National Health Emergency due to COVID-19 so we want to ensure our borrowers that in this crisis, their mortgages payment will not be a burden to them.” DHSUD Secretary Eduardo Del Rosario said.  NHMFC is one of the government’s key shelter agencies under the Department of Human Settlements and Urban Development.

Interested and qualified borrowers whose accounts are in current status or 0-3 months in arrears, should file their application for moratorium at any NHMFC office within 30 days after the national state of emergency has been lifted.

Borrowers may also opt to keep their accounts updated thru Paymaya’s online payment facility.  Even without going to NHMFC offices, borrowers may log-in to access their accounts at www.nhmfc.gov.ph.***

• Who are qualified to avail?
  
  

  All borrowers under all of NHMFC’s portfolio whose accounts are in current status (0 – 3 months) as of March 16, 2020.

• When and where to file application?
  
  

  Interested and qualified borrowers should file their application for moratorium at any NHMFC office within 30 days after the national state of emergency is lifted.

• When will it take effect?
  
  

  The moratorium shall be for a period of three months effective March 16 to June 16, 2020, subject to extension should the emergency situation prevail.

• What will happen to the loan once moratorium is availed and consequently approved?
  
  

  As a result of the moratorium, the loan term shall be automatically extended equivalent to three months or to the same number of months that the account is under moratorium.