NHA-text Images at heading Philippine Flag

NATIONAL HOUSING AUTHORITY

Northrail Projects' Amortization Extended

Relocated families in Northville Resettlement Project Sites in Pampanga are now prescribed effectivity date of their first monthly amortization for their Lot and Housing Loan Accounts.

Some 11,800 families out of the 13,125 relocated families affected by the Northrail Relocation Program are informed of their first monthly amortization to start on January 2011 for families who relocated from March 1, 2009 to January 31, 2010. For families relocated after January 31, 2010, their monthly amortization will start one year from date of occupancy of their housing units.

Loan payments should have started March 2010 onwards, however the Authority received written and verbal petitions from the Homeowner's Association in the Northville sites for an extension of the moratorium or grace period of one year due to experienced financial difficulties from physical and economic displacement. Also, community facilities such as school buildings have not been constructed, hence transportation to and from the resettlement sites and place of work and schools were hardly available and costly.

Said amortization schedule is pursuant to Memorandum Circular No. 2311 dated January 18, 2011.







<<< Back to 17 Multicabs . . .