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 lots that they currently occupy.
Provincial Ordinance 93-1 covers 51 hectares of Capitol-owned land in the Cebu City barangays of Busay, Luz, Lahug, Mabolo, Apas, Lorega-San Miguel, Kasambagan, Capitol Site, Tejero and Kalunasan.
During a meeting between Gov. Gwendolyn Garcia and homeowner associations, including the Alliance of Barangay Apas Community Associations Inc. held at the Capitol Social Hall on Nov. 9, 2023, only 41 out of 48 organizations expressed their willingness to settle the lot’s fair market value through a Pag-Ibig housing loan.
In line with Pag-Ibig Fund’s standards, the presidents of homeowner associations are tasked with collecting and submitting all of their members’ application forms to their office to expedite 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.