The Social Housing Finance Corporation has declared a moratorium on housing loan payments from Aug. 29 to Sept. 28 for members affected by the southwest monsoon, or habagat.
The moratorium covers qualified beneficiaries in several areas of Luzon, including Cavite. The agency said the move is meant to provide immediate relief to affected families, in line with a directive from President Ferdinand R. Marcos Jr.
The enhanced habagat battered Luzon, the Visayas and Mindanao through most of August, with the death toll reaching 32 and about 8.1 million people across 10 regions affected, according to the Office of Civil Defense.
Damage from the monsoon topped P8.4 billion, including more than P6 billion in infrastructure losses. Cavite was among the hardest-hit provinces, with all 23 of its cities and municipalities placed under a state of calamity at one point as floodwaters in low-lying communities such as Bacoor, Imus, Kawit and Noveleta reached chest- to head-high levels, forcing thousands of residents into evacuation centers.
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