Home Loan Borrowers May Avail Special Pag-IBIG Loan Restructuring Program Amid COVID-19 Crisis
PAG-IBIG LOAN RESTRUCTURING PROGRAM – The Pag-IBIG Fund got this special offer for home loan borrowers amid the COVID-19 crisis in the Philippines.
A lot of households are currently struggling over the impact of the COVID-19 pandemic in the Philippines. Over 200 countries and territories have recorded cases of the said disease.
The COVID-19 was first recorded in China last December 2019. Starting January 2020, it spread fast across the globe. Even the World Health Organization (WHO) was alarmed by how quick the disease has spread.
In the Philippines, community quarantine measures are implemented until now to curb the spread of the disease. The country is now one of the top 20 nations that recorded the highest cases of the disease.
The month-long quarantine measures are all for the goal to curb the spread of COVID-19 in the country. However, unfortunately, several businesses failed to cope with weeks of having no operation.
Many businesses only paid the rent and the other expenses but had no income for several months already. Due to it, some firms announced closure and bankruptcy.
The closure of many businesses further leads to many people losing their jobs and their source of income. A lot of them are breadwinners of their families and have loans to pay.
To ease the struggle of its home loan borrowers, the Pag-IBIG Fund has a special offer to them – the Pag-IBIB Loan Restructuring Program. It is apart from the 60-day loan moratorium covering Pag-IBIG loans.
According to Chairman of the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees Secretary Eduardo del Rosario, the Pag-IBIG Loan Restructuring Program aims to help home loan borrowers “update their accounts and keep their homes”.
To avail, you may visit the website of Pag-IBIG Fund or the branch of the government agency nearest to you.
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