Vice President Jejomar C. Binay said eight (8) updated housing loan borrowers of the state-run National Home Mortgage Finance Corporation will get early Christmas gifts as winners of the “Bahay Ko Pananagutan Ko” Raffle Program.

            Binay, who also chairs the NHMFC Board of Directors, said the winners of the raffle are as follows: First prize, Efren Morales from Dasmariñas, Cavite, Php350,000; Second prize, Alfredo Figueroa also from Dasmariñas, Cavite, Php250,000; and Third prize, Alberto Andrade from Biñan, Laguna, Php150,000.

            Consolation prizes worth Php50,000.00 will also be given to Gloria Galedo, Joselito Calamlam, Enriqueta Sazon, Lorenza Mabini, and Joseph Palomares. Binay said the raffle winnings shall be applied to the outstanding principal balance (OPB) of the borrower’s loan. Any excess winnings will be awarded in cash to the raffle winners.

            “This is aimed to encourage borrowers to pay early and maintain their housing loans in current status without restructuring their loan obligations,” he added.

            To qualify for the raffle, Binay encouraged borrowers to regularly pay and maintain their housing loans in current status.

            He added that a borrower should have at least six (6) consecutive current monthly payments to earn a raffle coupon. This means that a borrower can earn a maximum of two (2) raffle coupons per year.

            Aside from the raffle coupon, an early payment discount program will also be enjoyed by the updated borrower. The discount amount shall be automatically applied to the interest portion of the loan every time he pays his monthly amortization at least five days before his monthly due date.

            Binay also announced that the awarding of the raffle winners will be held during the 35th Anniversary Celebration of NHMFC on December 21, 2012.

            The winners were drawn out of an electronic raffle led by Vice President Binay and assisted by Dr. Felixberto Bustos, BSP Deputy Governor Diwa Guinigundo, DOF Director Editha Tan, and DBM Director Larry Drapete. Representatives from the Commission on Audit and NHMFC’s Internal Audit were also present during the draw.