SHFC grants 1-month moratorium to social housing beneficiaries after ‘Carina’ hits Metro Manila, Central Luzon

Published on 19 August 2024

SHFC President and CEO checks on the members of Letre HOA in Malabon during the distribution of food packs for families affected by Typhoon Carina

The Social Housing Finance Corporation (SHFC) has announced a one-month moratorium on monthly payments for beneficiaries affected by Typhoon Carina, effective from August 1 to 31, 2024.

“We are monitoring the beneficiaries to identify their needs and offer our support wherever possible,” SHFC President & CEO Federico A. Laxa said as he ordered the deferment of the beneficiaries payments “for a month while they recover.”

Earlier, Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar called for immediate assistance to those impacted by the typhoon as a disaster response effort in line with President Ferdinand Marcos, Jr.’s directive.

The guidelines and procedures for the implementation of the moratorium are detailed in SHFC Memorandum Circular No. 24-068, titled “Moratorium on the Payment of Monthly Amortization for Community Associations Severely Affected by the Typhoon Carina.” This circular applies to identified and qualified member-beneficiaries within the specified period.

Apart from the moratorium, SHFC has extended relief efforts to about 10,000 families affected by the typhoon in Metro Manila and Central Luzon. This assistance includes rice, canned goods, and other ready-to-eat food, medicines, and basic hygiene kits.

SHFC remains committed to improving the lives of its housing beneficiaries. Currently, SHFC has 12 ongoing projects under the Pambansang Pabahay Para sa Pilipino Housing (4PH) Program, including Crystal Peak Estates in San Fernando City, Pampanga; People’s Ville in Davao City; and Valley View Township in Tagoloan, Misamis Oriental, which would result in over 45,000 units. These projects are among the 111 shovel-ready projects expected to produce more than 505,000 units by 2028.