File photo of successful Community Mortgage Program (CMP) beneficiaries.
Around 80 member beneficiaries of Social Housing Finance Corporation (SHFC) in Luzon and National Capital Region (NCR) receive their land titles in the past months
after successfully completing payment of their loans under the Community Mortgage Program (CMP).
During SHFC’s Urban Development and Housing Act (UDHA) anniversary celebration in Pasay City in March, 29 land titles were given to members of P. Dandan
Neighborhood Association and Dolores Lakandula Homeowner’s Association (HOA).
Cherry Caguimbal, one of the beneficiaries, burst into tears upon receipt of her hard-earned land title.
Before I leave this world, I’m at peace knowing that my children will have something to inherit from me - a land title,” Caguimbal said in tears.
Her desire to own her lot began when she started noticing a lot of foreigners acquiring properties in the Philippines. This motivated her to apply for a CMP loan and ensure timely payment over a period of 25 years.
“Because of CMP, we will no longer be called squatters or urban poor. We developed this feeling that we are rich because we already have our own lot,” Caguimbal said.
SHFC Executive Vice President Eduardo Manicio said that the agency will continue to collaborate with local government units in order to provide more housing solutions to the poor. It is also advocating the community upgrading strategy by working with LGUs in the development of a local shelter plan. Through this approach, housing solutions are more holistic and programmatic and can address the problem in a wider scale.
50 land titles given to Southern Luzon beneficiaries 25 members of San Rafael Riverside HOA in Tagkawayan, Quezon were also awarded with their land titles. The community association consisting of 101 families is considered as one of the top performing HOAs in terms of collection efficiency. Their current collection efficiency rating (CER) is 123.49%. Meanwhile, 26 land titles were given to members of San Isidro Labrador Phase II HOA in Antipolo City in March.
Since 2010, SHFC has awarded at least 15,000 land titles to its successful CMP beneficiaries. This year, more than 3,000 land titles are expected to be released by the agency.