DAVAO City Councilor Jimmy Dureza Tuesday, February 28, proposed to craft a legislation urging Babay Financial Services Inc. or Balikatan to stop issuing orders of foreclosure to homeowners.
Dureza, during the privilege hour on Tuesday, read the letter of Richie Nalagon, lead convener of homeowners, who said that homeowners are victimized by foreclosures done by Balikatan since the financing company does not allow installment payment of housing loans.
The letter read Balikatan continued to issue eviction order to homeowners who were not able to pay their housing obligations due to big interest and surcharges being placed on homeowners' standing accounts.
Nalagon also appeared before the council stating he already went to National Housing Authority (NHA) general manager Marcelino Escalada on the possibility of buying back the property from the Balikatan so that homeowners will pay to the NHA instead.
“We are hoping that the City Council will help us while NHA General Manager Jun Escalada told us to write a proposal for them to study,” he said.
Nalagon added they also went to Cabinet Secretary Jun Evasco who also suggested the crafting of a proposal first.