NHA sets amortization moratorium, lease payments amid wrath of ‘habagat’

MANILA, Philippines - The National Housing Authority (NHA) has implemented an automatic moratorium on loan amortizations and lease payments falling until end of August for residential account holders in its housing projects.The measure aims to provide temporary financial relief to families affected by the prevailing 'habagat,' or the enhanced southwest monsoon, according to NHA General Manager Joeben Tai.Citing a memorandum circular, the moratorium covers residential account holders in the National Capital Region (NCR) and the provinces of Ilocos Sur, La Union, Pangasinan, Abra, Benguet, Bataan, Bulacan, Pampanga, Tarlac, Zambales, Cavite, Batangas, Rizal, Occidental Mindoro, and Oriental Mindoro, Tai said.The agency said the suspension comes in response to habagat, which has brought widespread and prolonged rainfall across NCR and several provinces in Luzon, resulting in flooding and work disruptions. The monsoon was further intensified by Tropical Depression 'Luis' and Tropical Storm 'Maymay,' both of which have since dissipated.The moratorium is automatically granted to residential account holders and does not require any application. During the one-month period, no delinquency or additional interest charges will be imposed, and the accrual of penalties, interest, and surcharges will be suspended. NHA Assistant General Manager Alvin Feliciano told The Manila Times.Payments of amortization and lease obligations will resume on September 1, 2026, while the repayment period for covered residential accounts will be extended by one month, Feliciano said.Any payments and charges incurred prior to August 1, 2026, will likewise resume on September 1, 2026, he added.Through this measure, the NHA continues to extend responsive assistance to its beneficiaries, helping families manage their housing obligations amid challenging circumstances while ensuring their continued access to decent, affordable, and sustainable housing, Tai stressed.'Here at the NHA, we are heeding the directive of President Ferdinand Marcos Jr. to help our fellow Filipinos affected by the recent southwest monsoon. This moratorium is our way of easing the burden on our beneficiaries during this difficult time,' the top NHA official said.