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60 days debt moratorium for housing loans starting September 15
The 60-day moratorium is provided under Republic Act No. 11494 or the Bayanihan to Recover as One Act signed earlier this month.
The law
mandates banks to waive charges for penalties due to late payments as well as the additional interest on amortizations that fall within the period
.
The BSP memorandum said the grace period is applicable to credit extended by lenders including salary, personal, housing, commercial, motor vehicle loans, amortizations, financial lease payments, premium payments, and credit card payments.
Inform your clients. This can help them not to default on their current housing loans
https://www.bworldonline.com/bsp-sets-rules-for-debt-moratorium/
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Thanks po for sharing
thanks…
This is something worth sharing. Thanks RJ.
thank you
Thank you
Noted po thanks..
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NICE
Thanks
THANKS!