VP Binay to housing agencies: Extend assistance to Earthquake Victims;
HGC implements Moratorium on Amortization Payments
Date Posted: November 08, 2013

Vice President and Housing and Urban Development Coordinating Council (HUDCC) Chairman Jejomar C. Binay instructed all housing agencies to adopt and implement ways to ease the suffering of our kababayans affected by the recent earthquake. The October 15 earthquake affected the whole Central Visayas region, particularly Bohol and Cebu.

Following VP Binay’s instructions, HGC President Atty. Manuel R. Sanchez announced that the HGC will be implementing a moratorium on installment payments for its properties sold in affected areas. “Damages brought by the earthquake were assessed and used as basis for deciding the moratorium to run for 3 months”, Sanchez said. During the moratorium period, affected buyers of HGC properties need not pay their monthly amortization. No penalty will be charged.

A similar moratorium program is still in effect for those affected by Typhoon Maring and floodings caused by heavy monsoon rains last August. Recognizing constant threat of severe weather and natural disasters, the HGC Management was given authority by its Board of Directors to immediately implement similar moratorium programs when necessary. This was in response to VP Binay’s directive to all key shelter agencies to always be ready to “help mitigate the sufferings of our kababayans” and “assist in building and rebuilding lives”.

VP Binay as HUDCC Chairman sits as the Vice-Chairman of the HGC Board.

The moratorium program will run from October 15, 2013 to January 15, 2014. Buyers affected by the earthquake are encouraged to apply during the 3-month period by submitting the accomplished application form at the HGC Office, Treasury Department, Jade Building, 335 Sen. Gil Puyat Ave., Makati City. For additional information, buyers may call the Treasury Department at (02) 895-9014, or download the Moratorium Program guidelines.