The House of Representatives approved on third and final reading the Housing Loan Restructuring and Condonation Act, a measure aimed at helping low-income and socialized housing beneficiaries keep their homes.
The law would allow borrowers under the NHA, SHFC, NHMFC, and PGC to have accumulated interests, penalties, and surcharges condoned, while offering restructured loans with lower interest rates and extended payment terms.
It also removes barriers for applicants by waiving processing fees and down payment requirements to make loan restructuring more accessible.
Rep. Lani Mercado-Revilla, a principal author, said the bill balances compassion with responsibility, giving families overwhelmed by debt a fair chance to stay in their homes.
The measure now awaits a counterpart in the Senate, after which both versions will be harmonized and sent to the President for signing into law.
Source: PhilNews24 | December 15, 2025
LEGISLATION TO PREVENT HOME LOSS FROM LOAN DELINQUENCY GETS HOUSE OK
You might be interested in
Latest from Politics
Senators reminded Public Works Secretary Vince Dizon that they trust him, not the DPWH’s district officers,
Parañaque Rep. Brian Raymund Yamsuan urged PhilHealth to step up its information campaign to inform Filipinos
The Philippine Embassy in Portugal has not received any information on the whereabouts of former lawmaker
Senator Imee Marcos flagged the sharp increase in the Department of Education’s (DepEd) classroom construction budget
The Quezon City Government launched the ‘No Juan Left Behind’ program at the Quezon City Male