Vice President and housing czar Jejomar Binay: Six-month moratorium for NHMFC borrowers in Cebu and Bohol. FILE PHOTO
MANILA, Philippines—Borrowers affected by the earthquake in Central Visayas may avail themselves of a debt payment moratorium and relief from late-payment penalties from several creditors, including a leading foreign bank and state-owned housing agencies.
In a press statement, global banking giant Citibank announced debt payment relief for credit cardholders and personal loan customers affected by the 7.2-magnitude earthquake that struck Bohol and Cebu. Clients affected by the Oct. 15 quake may seek relief of at least 30 days to settle their outstanding balances, the bank said.
The state-owned National Home Mortgage Finance Corp. and Home Guaranty Corp. likewise offered a moratorium on housing amortizations to affected borrowers.
Vice President and housing czar Jejomar Binay said in his Twitter account that NHMFC borrowers in Cebu and Bohol may avail themselves of a six-month moratorium. Applications may be filed before Dec. 31, he said.
HGC, for its part, is offering a three-month moratorium on quake-affected housing accounts from Oct. 15 to Jan. 15. Affected buyers may apply during the same timeframe.
Citibank clients are advised to call the 24-hour CitiPhone at 9959999.—Doris C. Dumlao