For three (3) months, the National Housing Authority (NHA) will suspend its collection of amortization or lease payments from residential account holders in all existing NHA Projects.
This after the Agency crafted a Memorandum Circular to help lessen the burden being felt by NHA housing beneficiaries in this time of COVID-19 scare; and in pursuant to Proclamation No. 922 — The Declaration of State of Public Health Emergency Throughout the Philippines — dated March 8, 2020.
The moratorium will cover payments from March 16-June 15, 2020. Resumption of said payments is on June 16, 2020. Included in this scheme are individual accounts and Community Association Account Holders.
The program specifically noted that there is no need for housing beneficiaries to apply for this measure. This will automatically be processed for all existing residential account holders of NHA. Furthermore, suspended amortization due will not incur delinquency or additional interest charges.