Around 5,600 informal settler families (ISFs) have acquired new homes in Cebu through the Social Housing Finance Corporation’s (SHFC) Community Mortgage Program (CMP), said Vice President Jejomar C. Binay.

As of July this year, the CMP has financed P196.60-million in loan availments benefitting some 5,592 informal settler families located in 79 project sites in Cebu.

Binay, concurrent chairman of the Housing and Urban Development Coordinating Council, was recently in the province to award titles to 38 family-beneficiaries of SHFC.

The beneficiaries, who have fully paid their share in the group housing loan belong to Serging Osmeña Homeowners Association, Inc. (HOAI), Camuresa HOAI, Mabolo Old Railway Station HOAI, Cebu People’s Power Residents Assn., Kamanggahan Lower Tabok Mandaue Urban Poor Assn., Lumad Bonbonan HOAI, and Ibabao Mambaling HOAI.

“Mas matamis makamit ang pangarap na sariling bahay at titulo nito kung ang mga ito ay pinaghirapan.  Huwag po nating hayaan na tayo ay manatiling “informal settler” sa sariling bayan,” Binay reminded the beneficiaries.

“Take care of your land titles and do not let anything happen to lose them or use them as a collateral for a loan because not all are given the opportunity to own a house and lot at such a very affordable cost,” he added.

CMP is a financing scheme that assists legally-organized associations of underprivileged and homeless citizens so that they can purchase and own the lots they are presently occupying or the lot where they choose to be relocated. ###