Pag-IBIG Fund now accepting application for calamity loan of members in Odette-hit areas

Maris Federez   •   December 29, 2021   •   836

MANILA, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has announced the allocation of Php5 billion in calamity loans and is now accepting applications to help its members affected by Typhoon Odette.

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as an aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo D. del Rosario in a statement released recently.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned, the statement said.

And in consideration of the plight of the members, the calamity loan is offered at a rate of 5.95% per annum which is the lowest rate in the market, it added.

The loan is payable over a period of up to three years. It gives the borrower a grace period of two months so that the initial payment is due only on the third month after the loan is released.

Qualified borrowers may apply for the loan within 90 days from the date when an area has been declared under a state of calamity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG.

 Pag-IBIG home loan releases surpass P100 B in 2021 for record-high; up 58%

UNTV News   •   January 22, 2022

Pag-IBIG Fund has once again set a record-high as home loans breached P100 billion, even amid the ongoing pandemic, agency officials announced on Friday (Jan.21).

For 2021, Pag-IBIG Fund released home loans worth P97.28 billion. And, with interim releases for loans for house construction and renovation amounting to P3.5 billion, total releases have reached P100.8 billion – the highest amount ever released by the agency in a year.

The amount disbursed in 2021 grew 58% compared to the P63.75 billion released in 2020 and has surpassed by 16% the P86.74 billion released in 2019, the agency’s previous record-high.

“While the country is still facing challenges caused by the pandemic, I am happy to report that Pag-IBIG released more than P100 billion in home loans in 2021, surpassing its ‘best-ever’ figure which it achieved in 2019, before the health crisis started,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 10-member Pag-IBIG Fund Board of Trustees.

“This is very good news for our members because bigger releases mean that more Filipino workers have become homeowners even during the pandemic. The growth in home loan disbursements also contributes to the economic recovery efforts of the government.” He added.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the amount released financed the acquisition of a record-high 94,533 housing units for its members, an increase of 48% compared to the 63,750 housing units financed in 2020.

Of the amount released, P9.71 billion financed the acquisition of 22,028 socialized housing units for members belonging to the minimum-wage and low-income sectors, or 23% of the entire number of homes financed for the whole year of 2021.

“We previously thought that releasing P100 billion in home loans in one year was impossible. Yet, even when our home loan releases were at P57 billion in 2016, we still targeted the release of P100 billion by 2022,” said Moti.

“And, thanks to the commitment of your Lingkod Pag-IBIG and the support of our stakeholders, we have already surpassed P100 billion in home loan releases in 2021 – a year earlier than our target date and even during a pandemic! What truly is significant behind this number is that we were able to serve more Filipino workers during the most difficult times and we remain a catalyst for the Philippine housing industry to thrive even amid the pandemic. I am grateful to everyone who helped make this seemingly impossible goal come true,” he added.

 

Distribution of gov’t cash aid for victims of Typhoon Odette to begin this week — DILG

Robie de Guzman   •   January 6, 2022

MANILA, Philippines — The distribution of cash assistance for severely affected survivors of Typhoon Odette is expected to begin this week, the Department of the Interior and Local Government (DILG) said.

In his report to President Rodrigo Duterte during a meeting with Cabinet officials, DILG Secretary Eduardo Año said the P4.8 billion budget for the cash assistance program has already been downloaded to 420 cities and municipalities.

Año said the distribution was to begin Wednesday for LGUs that have already completed the list of beneficiaries.

Orientations on how the money will be handed out to beneficiaries have also been conducted, he added.

The cash aid will be given to low-income families who were badly affected by the typhoon. An individual may receive P1,000 while a family may receive P5,000.

Areas covered by the cash aid program are from 27 provinces in MIMAROPA, Western Visayas, Central Visayas, Eastern Visayas, CARAGA, and Northern Mindanao.

Concerned LGUs have up to 15 days to finish the distribution of the cash assistance.

Duterte said the cash aid is on top of the construction materials that will be given to the typhoon survivors to rehabilitate their homes.

The government will also provide roofing materials and lumber to the survivors, as well as the services of carpenters and shelter builders from the government, the president said.

Undersecretary Ricardo Jalad, Office of Civil Defense administrator, reported that there were 1,242,737 families or 4.8 million persons in 38 provinces affected by Typhoon Odette.

Some 475,160 displaced individuals are currently taking shelter in evacuation centers and with their relatives.

Supreme Court reduces coverage, duration of Bar exams

Robie de Guzman   •   January 4, 2022

MANILA, Philippines – The Supreme Court (SC) on Tuesday announced it has reduced the coverage and the duration of the Bar Examination in view of the Omicron COVID-19 variant and effects of the Typhoon Odette.

In a statement, the SC said that, upon the recommendation of the Bar Chairperson, has resolved to reduce the coverage and shorten the duration of the 2020/21 Bar Examinations pro hac vice.

“The Court noted that the bar examinees for this coming bar has reviewed for longer than all the other batches taking the bar exams under very difficult conditions,” it said.

Per the Court En Banc’s January 4, 2022 Resolution, the examinations with the revised coverage will be held on January 23, 2022, Sunday; and on January 25, 2022, Tuesday, the high court said.

The Bar exams was supposed to be held for four Sundays starting January 16.

The SC said examinees will take four sets of examinations, encompassing the usual eight subjects: (1) The Law Pertaining to the State and Its Relationship with Its Citizens (formerly Political Law, Labor Law, and Taxation Law); (2) Criminal Law; (3) The Law Pertaining to Private Personal and Commercial Relations (formerly Civil Law and Commercial Law); and (4) Procedure and Professional Ethics (formerly Remedial Law, Legal Ethics, and Practical Exercises).

“The Bar Chairperson will release Bar Bulletin No. 31, s. 2022 which provides the revised coverage for each examination,” the SC said.

“All examinees are strongly advised to self-quarantine starting January 9, 2022, or at least two weeks before the Bar Examinations,” it added.

The Supreme Court said these changes pro hac vice seek to meet the demand for new lawyers amid the disasters plaguing the country.

It also noted that the Philippines has produced no new lawyers since the pandemic started in March 2020.

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