MANILA, Philippines – The government’s top housing agency is offering loans to members whose homes were severely damaged during the recent onslaught of tropical storm “Ondoy.”
The rehabilitation loan being offered by Home Mutual Development Fund or Pag-IBIG Fund is on top of the agency’s three-month moratorium on housing loan payment.
Under the rehabilitation loan program, members can borrow up to P150,000, with an interest rate of eight percent per annum.
Vice President and Pag-IBIG Fund chairman Noli de Castro said members can avail of the rehabilitation loan within 60 days starting last Monday.
To qualify, a member must have made at least 24 months of contribution at the time of application, and that he or she should be insurable and not more than 65 years old.
A qualified member should also have a legal capacity to acquire real property and should pass the credit, employment and business checks of the Fund.
Members whose housing units have been foreclosed, cancelled or bought back are not qualified for the program.
Jaime Fabiaña, Pag-IBIG’s chief executive officer, said that interested borrowers may submit a duly notarized affidavit of claim, a barangay certification of damage to borrower’s property, estimated cost of damages signed by a licensed engineer and bill of materials and specifications for repair works or minor construction.
Like its regular housing loan program, the property should be covered by the appropriate titles issued by the Register of Deeds “free from all liens and encumbrances” and should be in the name of the borrower.
Earlier, De Castro announced a three-month moratorium on housing loan payment.
The moratorium and the home rehabilitation program apply to affected Pag-IBIG members in Regions I, II, III, IV-A, IV-B and V, National Capital Region or Metro Manila and the Cordillera Autonomous Region.
To qualify for the moratorium, a member-borrower must have updated membership contributions and housing loan payments.
The moratorium is in effect from Sept. 26 to Dec. 31. Applications for loan moratorium may be filed with the Pag-IBIG branches where the loan is maintained within 30 days from Oct. 5. –Iris Gonzales (The Philippine Star)
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
