Philippine government-foreclosed housing properties for disposal
Published October 24th, 2007
Over 40,000 government-foreclosed housing properties for disposal
Government is disposing to the public over 40,000 foreclosed housing units of its key shelter agencies (KSAs) nationwide.
Vice-President and Housing and Urban Development Coordinating Council (HUDCC) Chairperson Noli de Castro said the government is prepared to offer these properties at six percent interest rate and with an amortization period of up to 30 years.
“We’re even offering 20 percent discount on cash payments,” he said Tuesday during opening of the three-day 2007 Housing Fair at the SM Megamall in Mandaluyong City.
He said authorities are optimistic disposing foreclosed properties will help address the country’s housing need projected to hit some 3.76 million units by 2010.
De Castro said civil servants and the private sector can purchase such foreclosed properties.
He recalled the first Housing Fair in Makati City last year was open to government employees only.
He added prospective buyers can already fill out at the fairs reservation forms for properties they’re thinking to buy.
“There’s something for everyone here as people have options depending on their preferences and capacity to pay,” he said.
Government’s KSAs are Housing and Land Use Regulatory Board, National Housing Authority, Home Development Mutual Fund, Housing Finance Corporation, Home Guaranty Corporation and National Home Mortgage Finance Corporation.
Theme for this year’s fair is ‘Serbisyong Tapat, Abot-Kayang Pabahay para sa Lahat.’
HUDCC, KSAs and private developers are holding simultaneously similar fairs in Cagayan de Oro, Cebu, Iloilo, Davao, Legazpi and Baguio City.
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