HGC Launches Moratorium Program for Typhoon Gener and ‘Habagat’ Victims
Date Posted: August 14, 2012

August 10, 2012—Home Guaranty Corporation (HGC) President Atty. Manuel R. Sanchez announced the suspension of collection of monthly amortization from buyers of HGC-acquired assets in areas affected by Typhoon Gener and  Habagat-caused flooding.
The moratorium program applies to monthly amortization due on housing loans, both principal and interest, and monthly lease/rentals on contracts of lease with option to purchase and similar contracts. Updated buyers may not pay monthly amortizations, without penalty for three (3) months, from August 6, 2011 to November 5, 2012.

Likewise, foreclosure/cancellation of delinquent accounts in Typhoon Gener and Habagat-affected areas is suspended during the moratorium period.  
In 2011, HGC implemented a moratorium program for victims of Typhoon Sendong.  Recognizing the 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, should the need for them arise. This was in response to Vice President  Binay’s directive to all key shelter agencies to always be ready to “help mitigate the suffering of our Kababayans” and “assist in building and rebuilding lives”.

VP Binay as Chairman of the Housing and Urban Development Coordinating Council also sits as Vice-Chairman of the HGC Board.

Buyers affected by Typhoon Gener and Habagat are encouraged to avail of the program by submitting the accomplished application form at the HGC Office, Treasury Department, Jade Building, 335 Sen. Gil Puyat Ave., Makati City.  Buyers may call the Treasury Department at (02) 895-9014 for additional information, or download the Moratorium Program guidelines.

At the home front, the HGC Employees Association (HGCEA), in cooperation with the HGC Management, conducted relief operations for HGC employees affected by Habagat. 

  HGC President Atty. Manuel R. Sanchez (3rd from right) and HGCEA President Roger F. Saltiga (5th from right) led the distribution of relief goods to HGC employees. EVP Cora Corpuz and HGCEA officers assist