The Pag-IBIG Special Housing Loan Restructuring 2 (SHLR2) Program is a special opportunity given to Pag-IBIG Housing Loan borrowers and installment buyers with missed payments,who may lose their properties due to foreclosure or cancellation.

- A chance to lower the monthly amortization of your Pag-IBIG Housing Loan
- A chance to extend your loan term
- Waive all penalties on unpaid monthly amortizations
- Avail of other Pag-IBIG Fund’s benefits as a member in good standing
The program is available for all Pag-IBIG Housing Loan borrowers and installment buyers:
- Who have missed payments for more than three (3) months
- Who are active members, with at least one (1) membership savings paid within the last six (6) months prior to the date of application; and
- Whose accounts are not foreclosed or cancelled
- All arrearages
- Foreclosure expenses, if any
- Unpaid balances, & any other amount advanced by Pag-IBIG Fund, and
- Applicable interests from the computation of restructured amount up to takeout date.
Penalties on unpaid amortizations shall be WAIVED. Unpaid accrued interests within the Grace Period under the Bayanihan I and II, meanwhile, shall remain payable at any time within the term of the restructured loan and not subject to penalty.
One (1) year insurance premiums must be paid within thirty (30) calendar days from the date of application. These include premiums for the following insurances
  - Mortgage Redemption (Life) Insurance
     •  Monthly premium shall be based on the Restructured Amount
  - Non-Life Insurance (Fire &Allied Perils)
     •  Monthly premium shall be the same with the Original Loan
Pag-IBIG Fund keeps its interest rates low and uses a Full Risk-Based Pricing (FBRP) Framework to properly set its home loan rates:
  - Restructured Pag-IBIG Regular Housing Loan
     •  Interest shall be based on Pag-IBIG Fund’s FRBP Framework, repriced periodically based on your chosen repricing period
  - Restructured Affordable Housing Loan (Socialized Housing Loan) / Installment Accounts
     •  Prevailing interest rates shall be retained within the remaining subsidized period. After which, interest shall be based on your chosen repricing period following our FRBP Framework
- Online via Virtual Pag-IBIG. Click here to apply
- Via submission of application and requirements at any Pag-IBIG Fund branch, particularly for certain accounts such as those that are subject to foreclosure.