Pag-ibig provides P32-M calamity loan to Zamboanga

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In line with its thrust of providing timely relief and aid to its members in times of need, the Pag-ibig Fund has approved P32 million in calamity loans in Zamboanga as of September 30.

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Pag-ibig has approved loans of some 1,732 members affected by the conflict in Zamboanga, with 4,000 applications already being processed.

“Pag-ibig is committed to help ease the suffering of the people of Zamboanga and assist them as they recover from the crisis,” Vice President and Pag-ibig Chairman Jejomar Binay said.

With Zamboanga placed under a state of calamity, the Fund is also offering a 3-month mora-torium on housing loan pay-ments to borrowers whose properties mortgaged with Pag-ibig have been damaged in the armed conflict or whose primary source of income has been impaired as a result of the crisis.

He said they have five areas of concern in Zamboanga, which include Rio Hondo, Santa Catalina, Santa Barbara, Kasan-yangan and Mariki.

So far, Binay said Pag-ibig identified 95 properties worth P76 million that are located in these areas.

“We hope to come up with the actual number of units affected as soon as our appraisers are allowed to enter the still-restricted areas and conduct an ocular inspection,” said Pag-ibig Chief Executive Darlene Marie Berberabe.

Housing loan borrowers may apply for the three-month moratorium so long as their loan account is updated as of the month prior to the declaration of the calamity.

They may file their applications at the Pag-ibig Zamboanga office located at the Pag-ibig Fund Building, San Jose Road, Baliwasan, Zamboanga City.

Earlier, the National Home Mortgage Finance Corp. also implemented a six-month moratorium on the amorti-zation of payments for borr-owers affected by the Zam-boanga conflict.

The Corp. moratorium will start from November 1, 2013 to April 30, 2014. Borrowers should file their application for moratorium not later that October 31, 2013.

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