|
Thursday, October 23, 2003
Banco Pilipino urged to extend terms of payment
By Christine Mae A. Pelayo
THE Bacolod City Government will request Banco Filipino to extend the terms of payment for the purchase of the P18 million property in Purok Paghidaet, Barangay Tangub, Bacolod City.
This came after the bank’s executive committee finally approved the Tangub Community Association Inc.’s proposal for squatter families to purchase the property at P600 per square meter.
The bank, however, required the residents to buy the property in full within 60 days.
Mayor Luzviminda Valdez said she is drafting a letter to Vice Mayor Ramiro Garcia asking him to give her a proposal on how to respond to the bank’s request.
“The bank’s request seemed too impossible that we have to produce P18 million within 60 days. Possibly, we can purchase a part of the property for P9 million, but how can the residents pay it off when they have a pending application with the National Home Mortgage Finance Corporation?” asked Valdez.
She added: “We need to work it out with Banco Filipino because P18 million is P18 million and we are now at the end of our fiscal year.”
Moreover, Valdez disclosed she proposed for the purchase of only 900 square meters from the 2.5-hectare property of the bank where the 117 families could fit in.
Pat Gerada, TCAI president, earlier said they are having problems on how to pay the P18 million property within 60 days.
She reminded the City Government of its obligation to solve the problem.
(October 23, 2003 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[ return
to top ]
[ home
]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
|
