Vice President Jejomar C. Binay today said that the key shelter agencies (KSAs) have allowed borrowers affected by the recent flooding caused by typhoon Maring and monsoon rains to defer payments to their housing loans.

            Binay said that the Home Development Mutual Fund (Pag-IBIG), National Housing Authority, and Home Guaranty Corporation have each declared a three-month moratorium on housing loan mortgages. The National Home Mortgage Finance Corporation and Socialized Housing Finance Corporation have imposed a six-month moratorium.

            The Vice President said that the moratorium applies to borrowers whose homes or sources of income are in areas declared to be under state of calamity.

            He also reiterated that calamity loans for affected members of Pag-IBIG can borrow up to 80% of their total savings with 5.95% interest rate per annum. The calamity loan is payable in two years.

            "For those wishing to avail of Pag-IBIG’s calamity loans or who have any questions, please do not hesitate to call the Pag-IBIG hotline at 724-4244," Binay said.

            "The imposition of the moratorium on payments is our way of helping our borrowers cope with the losses caused by the massive flooding," said the Vice President.

            He added that with the calamity loans and moratorium on payments, affected borrowers could focus on more immediate needs and on recovering from their losses.