This document outlines guidelines for a moratorium program and direct housing repair loan assistance for SSS members affected by Typhoon Sendong. It includes a six-month suspension of loan amortizations and a reduction of interest rates for repair loans to 8% for those whose homes were damaged. The assistance is available to eligible borrowers in specific calamity areas until June 2012, with detailed application requirements provided.

1. CIRCULAR NO. 2012 - 003
TO : SSS MEMBERS AFFECTED BY TYPHOON SENDONG
SUBJECT : GUIDELINES ON THE MORATORIUM PROGRAM AND DIRECT
REPAIR AND IMPROVEMENT HOUSING LOAN PROGRAM FOR
SSS MEMBERS AFFECTED BY TYPHOON SENDONG
Pursuant to the Social Security Commission (SSC) Resolution No. 1185-s.2011
dated 22 December 2011, approving the assistance to SSS members who were
affected by Typhoon Sendong, the following guidelines and procedures are hereby
issued:
I. TYPE OF ASSISTANCE
1. A six-month moratorium on monthly loan amortization and payments
falling due from December 2011 to May 2012 under the following
programs:
• Member Loans Program
• Housing Loans Program
• Acquired Asset Disposal Program (Housing)
2. Reduction of interest rate to 8% (from 13%) for new loans under the
SSS Direct Repair/Improvement (R/I) Housing Loan Program when the
purpose of the loan is to repair/reconstruct the house that was damaged
or destroyed due to Typhoon Sendong, effective until December 2012.
II. COVERAGE
A. Borrowers under the following SSS loan programs whose residence or
place of work was affected due to Typhoon Sendong:
1. Member Loans Program
2. Housing Loans Program
3. Acquired Asset Disposal Program (Housing)

2. B. The calamity areas are the following:
Region VII Negros Oriental
Region VIII Cagayan de Oro
Iligan City
Region IX Zamboanga del Norte
Region X Bukidnon
Misamis Oriental
Misamis Occidental
Lanao del Norte
Region XI Davao Region
Compostela Valley
Davao del Sur
CARAGA Surigao Sur
Agusan del Sur
ARMM Lanao del Sur
Other areas affected by Typhoon Sendong
C. TERMS AND CONDITIONS
A. Moratorium
1. Definition of Moratorium. Moratorium shall mean the suspension
of monthly amortization/installment payments consisting of principal
and interest without penalty accruing on the monthly
amortization/installment during the moratorium period.
2. Period of Moratorium. The Moratorium shall be for a period of six
months covering payments of monthly amortization and installment
payments falling due in the months of December 2011 to May
2012.
3. Terms and Conditions
A borrower may avail himself of the Moratorium for Salary Loan
Amortization Program or the Salary Loan Early Renewal Program
(SLERP).
a. Eligibility Requirement. The borrower must be current or
updated in the payment of his loan amortization/installment
payment as of 30 September 2011.
b. Availment Period. The availment period for filing the
application for moratorium is up to 31 May 2012.
Guidelines on the Moratorium Program and Direct Repair and Improvement Housing Loan for SSS Member Affected
by Typhoon Sendong
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3. c. In the case of Housing Loans and Acquired Assets sales
payable on installment, the borrower must apply for
restructuring of his loan/sales contract and sign a
Supplementary Mortgage Contract/Supplementary Deed of
Conditional Sale.
d. During the Moratorium period, the interest portion of the loan
shall be accrued and shall be capitalized together with the
outstanding principal balance after the Moratorium period.
e. The loan amortization/installment shall resume for payments
falling due starting in the month of June 2012.
f. After the Moratorium period, the loan term shall be extended by
six (6) months.
B. Direct Repair and Improvement Housing Loans
1. The loan shall bear an interest rate of eight percent (8%) per
annum, fixed for the term of the loan.
2. The purpose of the loan is to repair or reconstruct the house
damaged or destroyed by Typhoon Sendong.
3. All other requirements and terms and conditions under the
regular R/I Housing Loan Program shall apply.
4. The availment period for filing the application for Repair and
Improvement Housing Loan Program is six (6) months, until the
last working day of June 2012.
C. DOCUMENTARY REQUIREMENTS
1. Application for SSS Moratorium Program on the Payment of
Salary Loan Amortization Form (MLP12-2011), copy attached,
and Application for the Moratorium Program on the Payment of
SSS Housing Loan Amortization Form, copy attached.
2. Certification issued by any of the following:
a. Barangay/Local Government Unit
b. National Disaster Risk Reduction and Management
Council (NDRRMC)
c. Dept. of Social Welfare and Development (DSWD)
Guidelines on the Moratorium Program and Direct Repair and Improvement Housing Loan for SSS Member Affected
by Typhoon Sendong
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4. 3. For Repair and Improvement, the usual requirements under the
regular Direct Housing Repair and Improvement Loan Program
shall prevail
4. Employer Certification is required, if the employer of member-
borrower is the one affected.
Please be guided accordingly.
(Original Signed)
EMILIO S. DE QUIROS, JR.
President and CEO
APPROVED BY:
SOCIAL SECURITY COMMISSION
(Original Signed)
JUAN B. SANTOS
Chairman
12 January 2012
Date
(Policies and Procedures – Loans Granting)
Attachments: Application Form for SSS Moratorium Program on the Payment of
Housing Loan Amortization
Application for Repair/Improvement Loan
Guidelines on the Moratorium Program and Direct Repair and Improvement Housing Loan for SSS Member Affected
by Typhoon Sendong
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