Dagupan, Pag-IBIG ink MOU for housing project


MORE than 40 families in Barangay Pantal in Dagupan City  are now one step closer to finally owning the land they had occupied for more than 50 years.

The Dagupan City government, represented by Mayor Belen T. Fernandez and the Home Development Mutual Fund (HDMF) or Pag-IBIG represented by Acmad Rizaldy Moti as chief executive officer , recently signed a memorandum of understanding for the implementation of a housing loan program for the members of the Pantal Norte Urban Poor Alliance, Inc.

The agreement sealed the partnership of both parties to provide the support and assistance to develop and implement the housing program for the  beneficiaries.

Under the MOU, Pag-IBIG will extend individual housing loans to the qualified beneficiaries, provide counseling and assist the city government in coordinating with other key shelter agencies for the successful implementation of the housing project.

Meanwhile, the city will identify both the beneficiaries and land for the housing project..

The MOU provides for the establishment of a Collection Servicing Agreement for the collection of the monthly amortization and payment of loans.

The joint initiative was the city government’s response to claims raised by members of the urban poor over the land foreclosed by the Philippine Veterans Bank.

Susan P. De Vera, mortgage loan specialist of Pag-IBIG Fund Dagupan, said it was Mayor Fernandez who initiated the agreements with both the beneficiaries and HDMF.

“Mayor Fernandez reached out to our president (Moti) to assist the urban poor. Sumagot agad ang Pag-IBIG and we immediately met with both the mayor and the beneficiaries. It was also through her initiatives that the land was purchased by the city government,” said De Vera.

With the purchased land, the beneficiaries  can now avail of Pag-IBIG loans that will pay for the land.

The housing loan program,  he first of its kind in the province, is now at its final stage. (CIO/VDV)

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