Families reeling from recent typhoons and the powerful earthquake in Cebu are getting much-needed breathing space. The National Home Mortgage Finance Corporation (NHMFC) and the Social Housing Finance Corporation (SHFC), both under the Department of Human Settlements and Urban Development, have announced a one-month moratorium on housing loan payments.
This relief measure automatically applies to borrowers affected by Typhoons Nando and Opong, as well as those living in areas hit by the magnitude 6.9 earthquake in Central Visayas.
According to NHMFC, more than 822 housing accounts will directly benefit. “Ito po ay automatic na ia-apply sa mga accounts… may tinatayang 822 accounts na magbe-benefit,” said NHMFC officer-in-charge Shara Jane Falceso in Bagong Pilipinas Ngayon.
The moratorium covers areas under a state of calamity in Mimaropa, Bicol Region, Western Visayas, and Central Visayas. It will run from October 3 to November 2, NHMFC confirmed in a Facebook post.
Meanwhile, SHFC, which serves low-income families, also rolled out the same relief for borrowers in Mimaropa, Bicol, and Western Visayas.
“Our priority is the welfare of our communities,” said SHFC President and CEO Federico Laxa. “By suspending monthly amortization payments, we are giving them space to recover without the added pressure of financial obligations.”
The devastation left behind is staggering. According to the National Disaster Risk Reduction and Management Council (NDRRMC), over 20,000 houses were totally damaged in Mimaropa, Bicol, and Western Visayas due to tropical cyclones Mirasol, Nando, and Opong. In Central Visayas alone, 5,013 houses were damaged—with 658 completely destroyed.
For thousands of families who lost everything, this pause in payments is more than financial relief—it’s a chance to breathe, rebuild, and hope again.
