The Social Housing Finance Corporation (SHFC) announced a moratorium on monthly housing loan payments to provide financial relief for thousands of families affected by heavy monsoon rains and flooding across Luzon.

The payment freeze, effective through 28 September, covers more than 54,000 member-beneficiaries across 400 community associations in Metro Manila, Bulacan, Nueva Ecija, Pampanga, Bataan and Tarlac.

The temporary relief measure represents over P23.4 million in housing assistance, according to the state-run housing agency.

SHFC president and CEO Federico Laxa said the moratorium responds to directives from President Ferdinand Marcos Jr. and Housing Secretary Jose Ramon Aliling to deliver immediate relief to calamity-stricken communities.

“We hope to help our countrymen ease their financial burdens while recovering from this challenge,” Laxa said.

The announcement follows a similar payment suspension implemented by the agency last month, which provided P5.3 million in debt relief to more than 90 community associations across Metro Manila, Bulacan, Nueva Ecija, Rizal and Cavite.