The National Housing Authority (NHA) has waived more than P623 million in penalties and interest for over 14,000 families through its massive debt relief initiative, the agency announced Sunday.
Known as Condonation 7, the program has approved 14,330 accounts as of 30 November. Designed to provide financial relief to housing beneficiaries, the initiative offers a 100 percent waiver on penalties and delinquency interest, as well as a 95 percent reduction in unpaid amortization interest.
The program was originally set to end in October to coincide with the NHA’s 50th anniversary but was extended to 31 December 2025.
NHA general manager Joeben Tai said the extension was granted to assist families struggling with economic difficulties and recent natural disasters.