330 families to benefit from gov't mortgage program in Silay

MANILA – The Social Housing Finance Corporation (SHFC) has approved two housing projects in Silay City, Negros Occidental, under the Enhanced Community Mortgage Program (ECMP), paving the way for more than 330 families to secure ownership of the land where their homes stand.

In a news release on Friday, the SHFC said its Credit Committee approved the projects for the La Vida Homeowners’ Association Inc. and Ofelia Gonzaga Homeowners in Barangay Rizal, Silay City.

The ECMP is among the housing initiatives being implemented by SHFC under the Expanded Pambansang Pabahay para sa Pilipino Program of President Ferdinand R. Marcos Jr. and the Department of Human Settlements and Urban Development (DHSUD).

The program aims to provide safe, decent, and affordable housing to more Filipino families by helping organized communities purchase the land they occupy.

SHFC President and Chief Executive Officer Federico Laxa said the agency continues to intensify efforts to help more Filipinos achieve the dream of owning their own land and permanent homes.

He noted that earlier this week, three additional communities were also included in the list of approved ECMP projects.

With the latest approvals, the total number of ECMP projects approved nationwide has reached 43, which are expected to provide security of tenure to more than 7,400 families across the country.

SHFC said the increasing number of approved projects reflects the government’s continuing efforts to expand and accelerate housing programs to address the shelter needs of Filipino families.

On Tuesday, the DHSUD and the SHFC formally awarded a check worth more than PHP18 million to purchase the land occupied by members of the Don Vicente Villas Homeowners’ Association Inc. Phase 8 in Barangay Pulo.

The association, composed of 271 families, is among the beneficiaries of the ECMP. The check was handed to the landowner’s representative as payment for the property where the beneficiaries’ homes currently stand.

Along with the payment, the community also received a grant to cover the documentary stamp tax on the mortgage to help expedite the legal transfer of land ownership to the association. (PNA)