The Home Development Mutual Fund (Pag-IBIG Fund) has granted a grace period on the loan payments of its borrowers during the enhanced community quarantine (ECQ) in compliance with Republic Act 11469, or the “Bayanihan to Heal As One Act.”In a statement on Tuesday, Human Settlements Secretary and Pag-IBIG Fund Board of Trustees Chairman Eduardo del Rosario said the agency had “deferred [the] loan payments of our 4.77 million borrowers for the duration of the quarantine. With the grace period, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti said the agency had allowed the deferment of these payments amounting to more than P15 billion from 713,225 housing loan borrowers and over 4 million cash loan borrowers. “Pag-IBIG Fund has always put sustainability over profitability. And for us, sustainability starts with taking care of our members, given that the Pag-IBIG Fund is owned by its members. Whichever the case may be, either the grace period or our moratorium program, our borrowers now have one less thing to worry about,” Moti said.

Source: Manila Times April 29, 2020 16:41 UTC