The Social Housing Finance Corporation (SHFC), through its Palawan Satellite Office, has turned – over to National Housing Authority (NHA) – MIMAROPA Office a check amounting to P315,198 for the payment of origination/ mobilization fees.
SHFC grants mobilization or origination fees to accredited government agencies, one of which is the NHA who helps Homeowners Associations (HOA’s), in resolving their land tenure problems.
Amelia Romero, head of NHA Palawan, explained that the fund is intended for the Sailors Homeowners Association Inc. with 218 member-beneficiaries located in Barangay San Miguel, Puerto Princesa City.
“This will be realized so long as the land owner is willing to sell their properties to the actual occupants who form themselves into a homeowner’s association. Loan documents are prepared, completed, packaged and submitted to SHFC as the funding institution. After its loan approval the land owner is paid directly once the project is taken – out,” NHA-Palawan said in a statement.
After take – out, member beneficiaries shall pay SHFC their monthly amortization for 25 years.
The Sailors Homeowners Association Inc. has a total land area of 1.6 hectares in a property formerly owned by Ma. Rita Jocelyn Lim-Palces.