UPDATING/RESTRUCTURING PROGRAMS

Thru the years, the NHMFC has designed various Updating/Restructuring Programs to further assists its clientele in rehabilitating their past-due accounts. Proof-positive of NHMFC's predisposition to service and commitment to the people it serves.

·         In-House Loan Structuring

A restructuring program available for accounts that are past-due and for borrowers who are not qualified to apply under R.A. 8501 otherwise known as the Housing Loan Condonation Act of 1998.  The restructured loan shall be composed of the theoretical balance, unpaid principal and interest at the time of application less downpayment.

·         Special Repayment Program

A revised Restructuring Program for accounts that are past-due.  Also available for accounts that are not eligible to avail of the benefits of R.A. 8501.

·         Condonation of Penalties Under Republic Act 8501

A restructuring program for accounts that are past due provided said account has not availed of any previous condonation programs.

·         Six Months Updating Plan Under Republic Act 8501

An updating scheme wherein the amount of total arrearages is computed up to the end of the month of application and shall be paid within six months. The six-month period shall start on the first day or beginning of the month following of the month of application.

·         Republic Act No. 9507

This housing loan restructuring and condonation program under Republic Act (R.A.) No. 9507 shall cover loans of delinquent accounts of the National Home Mortgage Finance Corporation (NHMFC) with accumulated arrearages equivalent to at least three (3) monthly amortizations as of 16 March 2009 provided that the original principal amount of the housing loan shall not exceed P 2.5 million. Read More

For further inquiries about NHMFC’s Updating and Restructuring Programs, please don’t hesitate to call us at 893-1501.