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PIA Press Release
2009/06/23

2,475 borrowers to avail of NHA's condonation program

Davao City (23 June) -- About 2,475 delinquent housing accounts with the National Housing Authority (NHA) can avail of the Loan Restructuring and Condonation Under Republic Act 9507 that treats zero payment for penalty and delinquency charges and fifty percent (50%) off on accrued or unpaid interest.

NHA regional head, Engr. Carol Angel said the total 2,475 availees will be coming from Piapi Phase 1 (Brgy 31-D); Phase 2 (Brgy 37-D); R. Castillo; Kalayaan Relocation; Toril; Land Tenure Assistance projects (8 community associations); and Local Housing Funded projects from Tagum City, Panabo City and Mati, Davao Oriental.

NHA housing awardees are encouraged to visit NHA office along Pichon Street (former Magallanes Street) fronting Grand Men Seng hotel, or call 221-0832 and 221- 2002 and look for Architect Marietta P. Araņas or Rose Q. Camarillo for assistance.

Covered by the loan restructuring and condonation program are outstanding residential accounts with principal amounts not exceeding Php2.5-million which have cumulative arrearages equivalent to at least three (3) monthly amortizations as of March 16, 2009, notwithstanding availment of previous condonation programs.

NHA will condone all penalty/delinquency charges and fifty percent of accrued or unpaid interest based on the approved application.

Under MC 2218, NHA will provide incentives for unpaid accounts and remedies against delinquent accounts. (PIA XI/with Rose B. Palacio) [top]

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