THE government has directed its housing agencies to suspend amortization payments in areas severely affected by the recent earthquake in Cebu and the twin typhoons that battered the Bicol Region.
In a memorandum issued last Thursday, the Department of Human Settlements and Urban Development (DHSUD) ordered the agencies under its tutelage to implement a moratorium on monthly housing amortization for members whose homes were damaged or destroyed.
The order covers the Home Development Mutual (Pag-IBIG) Fund, the National Housing Authority (NHA), the National Home Mortgage Finance Corp. (NHMFC) and the Social Housing Finance Corp. (SHFC).
Regional offices of the DHSUD in Bicol and Central Visayas were also directed to inspect sites to determine the extent of destruction and identify beneficiaries eligible for assistance.
A magnitude 6.9 earthquake struck Cebu on Tuesday night, killing more than 70 people and injuring hundreds. According to disaster officials, the tremor affected over 47,000 families, many of whom lost their homes after strong ground shaking and secondary landslides.
Last week, typhoons ‘Nando’ (international name: ‘Ragasa’) and ‘Opong’ (international name: ‘Bualoi’) swept across the Bicol Region, toppling structures and flooding towns in Masbate, where thousands of shelters were reported either damaged or completely destroyed.
According to a statement, the DHSUD is coordinating with other government agencies and the private sector to ‘streamline’ housing assistance and rehabilitation efforts.