Capitol gives 93-1 lot occupants until next week to apply for housing loan

Capitol gives 93-1 lot occupants until next week to apply for housing loan
(Screengrab from Sugbo News)

THE Cebu Provincial Government has given the residents of 93-1 lots until next week to process their housing loan applications with Pag-Ibig Fund if they have not yet paid the monthly amortizations for the lot that they currently occupy.

Provincial Ordinance 93-1 covers 51 hectares of Capitol-owned land in the barangays of Busay, Bo. Luz, Lahug, Mabolo, Apas, Lorega, Kasambagan, Capitol Site, Tejero and Kalunasan, all located in Cebu City.

During Governor Gwendolyn Garcia's meeting with the homeowners associations, including the Alliance of Barangay Apas Community Associations Inc. (Abaca), at the Capitol Social Hall last Monday, November 9, 2023, only 41 out of 48 organizations agreed to pay the lot based on its fair market value through the Pag-Ibig housing loan.

In accordance with the Pag-ibig standards, the presidents of homeowner associations were tasked with gathering all of their members' application forms and submitting them to their office to expedite the loan processing.

Under their arrangement, the Pag-Ibig Fund will give directly to the Capitol the proceeds of the loan of each homeowner, while the latter will pay to Pag-Ibig the monthly amortization of the property.

The residents can only own the lots once they have fully paid the property. (With TPT)

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