How long is my grace period for a missed house or condo amortization?
Last updated: 2026-07-11 · Educational content; not legal advice.
Short answer
Under the Maceda Law (RA 6552), if you have paid at least two years of installments, you get a grace period of one month for every year of installment payments you have made — for example, five years of payments earns a five-month grace period. This right can be exercised only once every five years. If you have paid less than two years, the seller must still give you a grace period of not less than 60 days from the date the installment fell due. Paying the arrears within the grace period reinstates your contract, and no interest is charged on the installments you catch up on.
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Frequently asked
How is the grace period calculated if I paid two or more years?
One month per year of installments paid. RA 6552 §3 grants 'the grace period of one month for every one year of installment payments made.' So four years of payments = four months; ten years = ten months.
Can I use this grace period every time I miss a payment?
No. For buyers who paid two years or more, the Section 3 grace period 'may be exercised by the buyer only once in every five (5) years' of the life of the contract.
What if I paid less than two years?
Section 4 still gives you a grace period of not less than 60 days from the date the installment became due. If you fail to pay by the end of that period, the seller may cancel — but only after 30 days from your receipt of a notarized notice of cancellation.
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Your rights as a home buyer or renter — the Maceda Law (RA 6552) refund and cash-surrender-value rules when you stop paying a house or condo on installment, the grace period before a developer can cancel, PD 957 remedies when a developer won't deliver your unit, title, or promised amenities, how to file against a developer at DHSUD / the HSAC, and the Rent Control Act (RA 9653) limits on deposits, rent increases, and eviction.