Naga SP endorses housing loan papers to Social Housing Finance Corporation

NAGA CITY---The Committee on Housing and Settlement Development of the Sanguniang Panlungsod of Naga finally endorsed the complete housing loan documents of the Villa Maria Homeowners Association (VMHA) to the Social Housing Finance Corporation (SHFC) recently.

City Councilor Miles Raquid-Arroyo, committee chair, said the VMHA loan papers were submitted to the SHFC for deliberation by the agency’s credit committee this month.

Arroyo submitted the endorsement together with the loan documents at the office of SHFC-Bicol Coordinator Engr. Frederick de Real, who will forward the same to the office of SHFC President Atty. Arnolf B. Cabling.

The loan documents, which was prepared by the VMHA, are requirements under the housing program of the SHFC for families living in poverty.

The preparation of the loan documents of the association was delayed for two years due to misunderstanding about the documentary requirements needed by the housing agency.

In July this year, a groundbreaking ceremony of the 2.3-hectare Villa Maria Subdivision was held in Barangay San Felipe here.

The ceremony was attended by Housing Urban Development Council (HUDC) Bicol regional director Cristina Abano, ex-City Councilor Julian Lavadia Jr., officials of Barangay San Felipe, VMHA President Jesusa San Agustin, and her members.

The VMHA has 220 members who are awarded by a 64 square meters lot each.

The Naga City government aims to build 2,311housing units per annum to address the housing backlog by year 2032. Danny P. Aureus and Paulo DS. Papa