SHFC suspends housing payments for families hit by twin typhoons

The Social Housing Finance Corporation (SHFC) has announced a one-month moratorium on housing amortization payments for beneficiaries in areas severely affected by Typhoon Tino and Super Typhoon Uwan, in line with President Ferdinand Marcos Jr.’s directive to extend relief to disaster-stricken communities.

The moratorium aims to provide financial breathing room for thousands of low-income homeowners whose livelihoods were disrupted by the back-to-back typhoons that hit several regions of the country in recent weeks.

According to SHFC, the suspension period for communities affected by Typhoon Tino will run from 4 November to 3 December, covering member-beneficiaries in Regions IV-B (MIMAROPA), VI (Western Visayas), VII (Central Visayas), VIII (Eastern Visayas), and XIII (CARAGA).

For areas affected by Super Typhoon Uwan, the moratorium will take effect from 11 November to 10 December, applying to beneficiaries in the National Capital Region (NCR), Cordillera Administrative Region (CAR), and Regions I (Ilocos), II (Cagayan Valley), III (Central Luzon), IV-A (CALABARZON), IV-B (MIMAROPA), V (Bicol), and VIII (Eastern Visayas).

SHFC President and CEO Federico Laxa said the moratorium is part of the corporation’s support for the national government’s disaster recovery efforts, ensuring that affected families are given time to recover from the calamities without the immediate burden of housing payments.

“In times of calamity, our homeowners can continue to rely on SHFC for support and assistance,” Laxa said.

He added that SHFC is closely coordinating with local government units (LGUs) and partner agencies to identify affected communities and ensure the timely implementation of the moratorium. The agency will also continue to monitor the recovery and rehabilitation of its partner communities in coordination with the Department of Human Settlements and Urban Development (DHSUD).

Laxa assured that SHFC remains committed to its mandate of providing affordable and sustainable housing finance for low-income families, particularly those whose homes and livelihoods were severely affected by the recent disasters.

The agency encouraged all affected beneficiaries to coordinate with their respective local SHFC offices for guidance and to ensure that they can fully benefit from the temporary suspension of amortization payments.

The SHFC, an attached agency of the DHSUD, serves as the government’s primary institution for community-based housing programs and socialized housing finance, particularly for informal settler families and low-income communities.