Vice President and Housing and Urban Development Coordinating Council (HUDCC) Chairman Jejomar C. Binay said around 15,000 acquired assets will be for sale at the annual Housing Fair Expo, which will run from October 8 to 10, 2012 at the SMX Convention Center, SM Mall of Asia in Pasay City.
“If you are planning to buy a house, this is the best time to do it as you will find affordable and decent housing units in this Fair,” Binay said.
The Vice President said Key Shelter Agencies (KSAs) led by Home Development Mutual Fund (Pag-IBIG Fund), National Home Mortgage Finance Corporation (NHMFC) and Home Guaranty Corporation together with Government Financial Institutions (GFIs) namely Bangko Sentral ng Pilipinas and Social Security System will offer housing units from their inventory of acquired properties.
“Private housing developers will also join the Fair and will offer brand new housing units from their existing projects,” he added.
According to Binay, the shelter agencies have been developing programs that would help Filipino families acquire their own homes.
In 2010, Pag-IBIG Fund opened its membership to all Filipino workers belonging to both the formal and informal sector, whether they are based in the country or overseas. This universal membership coverage means that more workers will be able to avail themselves of the membership benefits of the Fund.
Aside from the housing loan privilege, membership benefits include provident savings as well as access to short-term loan programs of the Fund.
For those who can afford to pay higher monthly amortizations, Pag-IBIG recently increased from P3 Million to P6 Million the maximum loanable amount a member can borrow.
Pag-IBIG also lowered its interest rate from 6% to 4.5% for housing loans up to P400,000 of minimum wage earners.
Meanwhile, five local government units (LGUs) will receive Best Practices Awards on the opening day of the Housing Fair.
The five cities namely Malabon, Metro Manila; San Carlos, Pangasinan; Lipa, Batangas; Tagum, Davao del Norte; and Kidapawan, North Cotabato will receive cash incentives to further strengthen their programs against squatting syndicates and professional squatters.
The awarding ceremonies will be led by Binay and representatives from member-agencies of the National Drive Against Professional Squatters and Squatting Syndicates (NDAPSSS), an inter-agency task force composed of 11 national government agencies.
“A community free of professional squatters and squatting syndicates will bring about a smooth delivery of the government’s housing program to the people, particularly the poor,” Binay said.