SHFC awards P35 million for Naic housing project 

The Social Housing Finance Corporation  (SHFC), an attached agency under the Department of Human Settlements and Urban Development, released P35.77 million for the purchase of a 25,275-square meter property in Naic, Cavite where the future homes of 800 families residing along the waterways of Parañaque and Las Piñas cities will be built. 

SHFC Executive Vice President Atty. Junefe Payot and SHFC Settlements Management Group Vice President Bob Flores turned over the check to the landowner, Edgardo Sumilong, in a ceremony held in Barangay Molino on March 22.

The beneficiaries of the housing project are members of the Parlas Homeowners’ Association, Inc., which was organized in 2017 and led by its president, Paterno Casas. 

Their loan application was approved by SHFC in December 2019 and was funded under the Community Mortgage Program (CMP), the agency’s flagship initiative that assists legally organized associations of informal settler families (ISFs) to purchase and develop a tract of land under the concept of community ownership. 

Casas thanked SHFC for assisting them in complying with the requirements to avail of the CMP loan. He also expressed his gratitude to the local government for accepting them and approving their relocation to the municipality. 

Through the CMP, SHFC provided secured homes to over 8,000 ISFs through about P1.6 billion in loan assistance last year. More than 350,000 ISFs, on the other hand, have benefited from the CMP since it was established in 1988. 

SHFC is the lead agency assisting underprivileged communities to secure land tenure through shelter financing and development solutions by Building Adequate, Livable, Affordable, and Inclusive (BALAI) Filipino communities.