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Deferment of NMHC home loans

Community Bulletin
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(NMHC) — Due to the impending austerity measures and the anticipated economic hardships as a result of the decline in our tourism industry as affected by the suspension of visitor arrivals from China and reduced flights from Korea, most, if not all of our clientele will somehow be affected by it.

Therefore, the Northern Marianas Housing Corporation will place a blanket Deferment Assistance of all of its loans for a period of three months which will begin March 1, 2020 and will end on May, 31st, 2020.

Interest shall not accrue during the three-month period. Beginning June 1, 2020, all loans will be reinstated to their regular monthly payments and an additional three months will be added on to the loan maturity.

If you do not wish to avail yourself of this assistance, you must provide NMHC an official cancelation notice of the Deferment Assistance being offered.

Thank you for your time and attention and should you have any further questions, you may contact our Mortgage & Credit Division at telephone numbers 234-6866/9447/7689/7670.

November 2020 pssnewsletter

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