Last Updated on February 10, 2020

Families affected by the Taal volcano eruption will soon move into new homes granted by the national government, Manila Bulletin reported.

This comes after President Duterte approves the proposal of the Department of Human Settlements and Urban Development (DHSUD) to give housing units originally allotted to members of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). The approval, according to Presidential Spokesperson Salvador Panelo, happened during a cabinet meeting.

A total of 5,448 dwellings located in Batangas, Laguna, Cavite, and Quezon will be bestowed as a grant to the displaced families. Residents living within the seven-kilometer radius of the volcano’s crater will be the priority recipients.

Relief Communities

Meanwhile, the National Housing Authority (NHA) is getting busy fixing up the houses, particularly the water supply and electrical connection. The agency vowed that the units will be ready within 30 days.

Two communities in Batangas will accommodate Taal victims: Villa de Pio Homes with 300 units and Sea Breeze Residences with 600. There were already 192 families relocated to the latter mentioned. In Laguna, there are three, namely Valley Breeze Residences, (553), Lake Breeze Residences 1 (176), and Lake Breeze Residences 2 (219).

In Cavite, there’s Villa de Adelaida (500), Summer Homes/Summer Ville (1,000), and Sunshine Ville 2 (1,000). For Quezon residents, they will be accommodated in San Manuel Homes (700) and Happy Valley Homes (400).

Under Joint Resolution No. 2, the NHA has the authority to grant unawarded, surrendered, and canceled AFP/PNP housing units to eligible individuals. Currently, the agency is sorting out applications from Taal victims and assigning units.

Financial Help

Aside from the free housing units, the national government also grants other housing-related assistance to families affected by the volcanic eruption. Below are these programs:

Socialized Interest Rates

The finance arm of DHSUD specializing in programs for low-income families has lowered its interest rates. According to Business World, Social Housing Finance Corp. (SHFC) offers it at two percent. The agency offers three types of loans: land acquisition, site development, and house construction.

Member-beneficiaries may fall under one of the 10 brackets. Those categorized under the first and second deciles will be eligible for the two percent interest rate. SHFC extended the repayment term to 35 years from the 25, with graduated amortization.

Meanwhile, those under the third decile will have a four percent interest rate; 4.5 percent on the fourth to seventh. The rate for the eighth to 10th will be six percent. The loan for these categories is payable over a period of 30 years, with graduated amortization.

Beyond the low interest rates, the agency has set up a penalty condonation program. Borrowers who have outstanding payments worth at least three months will not have to pay associated penalties and surcharges.

Last year, SHFC dispensed P2.48 billion worth of housing loans to over 30,000 members. The number of beneficiaries is double the figures recorded in 2018.

Calamity Loan Funds

Pag-IBIG also offers financial assistance to Taal victims. The bureau announced recently that they’ve allotted calamity loan funds this year, providing a reduced interest rate as well, at 5.95 percent per annum.

Borrowers can get up to 80 percent of their total Pag-IBIG savings. Those who are currently enrolled in a Multi-Purpose and/or Calamity Loan, on the other hand, can borrow the amount from the difference between the outstanding balance and 80 percent of the total savings.

The housing agency looks at three different factors for evaluating qualification. A borrower, for one, should be an active, contributing member, with at least 24 monthly membership savings. They must also reside in the area the Office of the President or the Local Sanggunian placed under a state of calamity. Those who have current loans, meanwhile, should have updated payments as well. Application for the loan can be submitted within 90 days from the declaration of state calamity.

As for the payments, the loans are payable within 24 months. The first payment is deferred in that it will be due on the third month after the release of funds. Those who are formally employed settle the loans through salary deductions from their employer. The self-employed and overseas Filipino workers, on the other hand, would have to pay at Pag-IBIG Fund branches.

Pag-IBIG was able to provide P1.51 billion to almost 90,000 members hit by different disasters last year. The agency hopes to offer assistance to more Filipinos this 2020.

Sources: Manila Bulletin, NHA, Business World

This article was first published at Lamudi.com.ph