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
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