GSIS offers moratorium on housing loan payments

To help members, especially those hit by tropical storm “Ondoy,” get back on their feet, the Government Service Insurance System (GSIS) has said it will give borrowers of housing and consolidated loans the chance to hold off monthly payments for one year.

In a resolution, the GSIS Board of Trustees approved a one-year moratorium on the payments for the GSIS loans — a measure meant to assist GSIS members, especially those affected by Ondoy.

The GSIS Board of Trustees said the moratorium will “enable them (victims of calamities) to attend to more pressing financial needs like food, clothing, relocation and/or repair of shelter.”

The moratorium on loan payments is in support of President Arroyo’s initiative to provide members with higher take-home pay amid the recent calamities that hit the country.

The GSIS said it will finalize the mechanism and system for the implementation of the moratorium and will make the necessary announcements as soon as the GSIS is ready to begin this program.

It added this repayment deferral program for housing and conso-loans will benefit borrowers whose accounts are not in default. During the implementation of the moratorium, the sending of collection notices shall be suspended.

Apart from the moratorium on housing loan payments, the GSIS also offered the most generous calamity loan program in the country to the tune of P20,000 on loans to members affected by Ondoy.

Areas devastated by Ondoy include the whole of National Capital Region, Mt. Province, Ifugao, Benguet, Pangasinan, La Union, IlocosSur, Isabela, Quirino, Nueva Vizcaya, Aurora, Nueva Ecija, Zambales, Pampanga, Bulacan, Tarlac, Bataan, Cavite, Laguna, Batangas, Rizal, Quezon, Occidental Mindoro, Oriental Mindoro, Marinduque, Catanduanes, Camarines Norte and Camarines Sur.

Aside from the GSIS offices and other government offices, the GSIS has set up kiosks at different SM malls, namely, SM Megamall, SM North Edsa, SM Fairview, SM Marikina, SM Taytay, SM Marilao, SM Pampanga, SM Las Piñas and SM Sta. Mesa to better serve its affected members.

A kiosk was also placed in the office of the Philippine Information Agency on Visayas Avenue in Quezon City for this purpose.

Just recently, the GSIS also announced members affected by typhoon “Pepeng” can now apply for the P20,000-Emergency Loan such as those working in Ilocos Norte, Cagayan Valley and Albay.

For Ilocos Norte, eligible members can apply for the Emergency Loan at the GSIS Regional Office in Laoag; the provincial capitol of Bangui, and the city hall of Batac.

For Cagayan Valley, eligible members can apply at the GSIS Regional Office in Tuguegarao; the municipal hall of Aparri; the provincial capitol of Apayao, and the Paseo Mall commercial center in Cagayan Valley.

For Albay, eligible members can apply at the GSIS Regional Office in Naga; the municipal hall of Polangui; the city hall of Ligao; the municipal hall of Daraga; the city hall of Tabaco, and the provincial hall of Albay.

Qualified members can apply for the Emergency Loan only on weekdays, from 8 a.m. to 3 p.m.

These actions are in line with the government plan to not only help victims of typhoons but also keep liquidity by sustaining consumption spending and investments.  –Daily Tribune