Metro Manila (CNN Philippines, March 19) — The National Housing Authority (NHA) announced on Thursday it will suspend its collection of amortization or lease payments in all NHA projects for three months.
The measure was made to help cushion the impact of the enhanced community quarantine and the threats of COVID-19 on its housing beneficiaries.
Collection of amortization will be suspended from March 16 to June 15. The government agency clarified that housing beneficiaries no longer need to apply for this measure, as it will automatically be processed for all existing NHA residential account holders.
Suspended amortization due will not incur delinquency or additional interest charges, it added.
President Rodrigo Duterte earlier placed the entire country under a state of public health emergency, due to the rising number of COVID-19 cases.
All of Luzon has also been placed on an enhanced community quarantine, which translates to strict home quarantine and suspension of mass transportation. The move has also resulted in the loss of income for many Filipinos, including those who are in a ‘no pay, no work’ scheme.
As of March 19, health authorities have confirmed 217 COVID-19 cases, with 17 resulting in death.
