Tag Archives: amortization

HUDCC, NHA okay purchase of properties for ‘Sendong’ victims


Vice President and Housing and Urban Development Coordinating Council (HUDCC) Chairman Jejomar Binay and the National Housing Authority (NHA) approved the purchase of properties to be used for the development of resettlement projects for “Sendong” survivors.

NHA general manager lawyer Chito Cruz said the agency will buy four properties in Cagayan de Oro, two in Iligan and one in Dumaguete for a total amount of P237 million.

“The sites will be subjected to geohazard surveys to ensure that the communities that we will build are safe and environmentally-sustainable,” the Vice President said.

The NHA also allotted P288.8 million for the construction of 14,709 housing units. Each unit will cost P110,000, of which P40,000 will come from the NHA and P70,000 from the Department of Social Welfare and Development.

“The resettlement projects will have socio-economic facilities and police outposts. We will also make sure the availability of basic services for the use of the beneficiaries,” Binay said.

Meanwhile, Cruz announced that Sendong survivors with existing NHA accounts as housing beneficiaries in the three cities can now apply for a 3-month suspension of payments on their amortizations.

The moratorium will cover on January to March 2012. Delinquency charges will not be imposed within the duration of the moratorium and payment within the period will be charged to the hierarchy of payments.

Homeowners may file their amortization suspension applications until March 15, 2012 at the NHA Project Office in his or her area for approval by the Project Manager.