ILOILO CITY (PNA) -- Thousands of families and community associations have benefited from government's shelter programs, a data from the Housing and Urban Development Coordinating Council (HUDCC) here showed.
A comparative accomplishment from 2002 to 2009 submitted by various key housing agencies (KHA) in Western Visayas to the HUDCC showed an increasing number of families availing of services that are being made available to them by government.
The data showed that some 11,044 families all over the region have availed of the regular production program of the National Housing Authority (NHA) and some 5,770 families from community-based housing (CBH) for the said period.
On the other hand, the Home Development Mutual Fund (HDMF) has assisted 17,436 individuals for its regular mortgages; 5,521 developers for its development institutional loans and 273 for its group land acquisition program (GLAD).
HUDCC Regional Coordinator Eva Marfil explained that the regular mortgages are individual loans for Pag-IBIG members solely for residential purposes.
The development institutional loans are usually being availed by developers to finance the establishment of a subdivision while GLAD is extended for Pag-IBIG members looking for land to be purchased as a group.
Meanwhile, the newly created Social Housing Finance Corporation (SHFC) has assisted 25 homeowners associations in its Community Mortgage Program (CMP) and issued purchase of commitment line (PCL) or letter of guarantee to 62 associations.
The PCL, Marfil said, is an assurance that the association has already passed the credit investigation and that the owner of the lot subjected to the CMP has the guarantee of Government that he/she will be paid.
Thereafter, the lot owner is obliged to transfer the title of the property to the name of the homeowner association.
''It is only when the title of the property is transferred to the borrower that the government releases the money to the landowner through the SHFC,'' she explained.
The National Home Mortgage Finance Corporation (NHMFC) is now into collection and its function has been transferred to the SHFC.
