Housing

CITY OF SAN FERNANDO—The officers and employees of the Home Development Mutual Fund (Pag-IBIG Fund) have been ordered to report in writing their acquisition of property in any housing projects of the Globe Asiatique Realty Holdings Corp.

MANILA, Philippines – Former housing officials, including some members of the board of trustees of the Pag-ibig Fund, received condominium units from troubled real estate developer Globe Asiatique, Cavite Rep. Elpidio Barzaga Jr. said yesterday.

Manila, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has assured overseas Filipino workers (OFWs) that their contributions to the Fund are “safe and secure” despite job transfers abroad as it also encouraged inactive members to reactivate their membership.

MANILA, Philippines – The government’s housing czar, Vice President Jejomar Binay, has ordered an inquiry into the alleged fraudulent use of Pag-Ibig Fund housing loan proceeds by real estate developer Globe Asiatique.

HOUSE Majority Leader Neptali Gonzales II is seeking an investigation into the reported large-scale fraudulent use of Home Development Mutual (Pag-ibig) Funds to finance bogus housing loans and questionable housing development projects.

SPECIAL REPORT Pilot housing project (First of two parts) CITY OF SAN FERNANDO—In the files of the Home Development Mutual Fund (Pag-IBIG Fund), Joel is listed as a borrower of a P635,000 loan for a 36-square meter, two-story townhouse in Xevera Mabalacat, a housing project some 50 kilometers north of where he lives in Pampanga.

Some 200 settlers, depicting fairies and other mythical creatures, gathered in front of the Pasig River Rehabilitation Commission (PRRC) office in Quezon City on Friday calling for the implementation of the proposal by Palafox Architects for the housing program along esteros Metro Manila waterways.

MANILA, Philippines—About 70 percent of the world’s population is expected to be living in cities by 2050. Some experts are concerned that as cities continue to grow and prosper, they become less and less habitable for families.

CEBU, Philippines – The Philippine Overseas Employment Administration clarified it has not suspended the collection of Pag-Ibig Fund membership fees from overseas Filipino workers, as reportedly ordered by Vice President Jejomar Binay in his capacity as chairman of the Housing and Urban Development Coordinating Council.

MEMBERS OF the Pag-IBIG Fund who missed out on the monthly payments for their housing loans have until Sept. 30 to avail of the agency’s latest loan restructuring and penalty condonation program.

MANILA, Philippines – Vice President Jejomar Binay, also the government’s housing czar, has ordered the suspension of a Philippine Overseas Employment Administration directive for a compulsory six-month contribution to the Pag-Ibig fund as a precondition for migrant workers’ deployment abroad.

MANILA, Philippines—Overseas Filipino workers and their recruiters alike are up in arms over the compulsory six-month contribution OFWs are now forced to make to the Home Development Mutual (Pag-IBIG) Fund even before they could leave to start work abroad.

CEBU CITY, Philippines  – Vice President Jejomar Binay wants another round of adjustment in housing loan interest rates of the Home Development Mutual Fund or Pag-IBIG Fund to make it more affordable to its members.

The government’s 15-year strategy on slum eradication and urban upgrading in the National Capital Region failed to take off because it lacked the political will to take on the problem, according to the Asian Development Bank.

CEBU, Philippines – Five manpower and security agencies have been placed by Home Mutual Development Fund in Cebu City under its watchlist for failure to remit the monthly contributions of the employees.

MANILA, Philippines—The land for the housing project of employees and executives of Metropolitan Waterworks and Sewerage System (MWSS) at the La Mesa watershed is bigger than Rizal Park.

MANILA, Philippines – Former President Gloria Macapagal-Arroyo’s urban poor assistance program was a failure, the Commission on Audit said yesterday.

Here’s one which the Office of the President and the soon-to-be-organized Truth Commission and even the fact-finding unit of the Ombudsman may want to look into soonest.

THE PAG-IBIG Fund is holding off the implementation of a new, stricter rule for availing housing loans until October following complaints from real estate developers afraid of losing the bulk of their business.

THE state-owned Home Development Mutual Fund or Pag-IBIG Fund is tightening up on housing loans to ensure its viability amid an overwhelming demand for home financing, its top official said Tuesday.

State-run Home Development Mutual Fund (Pag-IBIG Fund) said it would tighten lending rules for new and incoming members to maintain the agency’s viability. “When before, a member could just pay a lump-sum equivalent to P4,800, which is likewise payable for 24 months to get a loan of P500,000, now a new member should wait for…

MANILA, Philippines – Jaime Fabiaña, chief executive officer of the Home Development Mutual Fund (Pag-IBIG Fund), defended yesterday the agency and denied allegations that its officials have been working there too long and have lost the vision to serve.

Owning a house remains a dream to many Filipinos. This despite recent developments such as the availability of various financing schemes for home loans from banks and cooperatives.

Vice President Noli de Castro has expressed his wish for Vice President-elect Jejomar Binay to prioritize housing and the welfare of Filipino workers overseas.

Vice President Noli de Castro has strongly warned tenants of government-issued housing projects that their housing rights would be forfeited permanently if they sell their property.

HOMES FOR HOMELESS THE METRO MANILA INTER-Agency Committee on informal settlers (MMIAC) has approved its implementing rules and regulations (IRR) to be able to carry out a uniform shelter program for squatter families in the metropolis.

More families of migrant Filipino workers have recently acquired houses, supporting the growth of the remittance-driven real estate industry.

MANILA, Philippines – The Board of Investments (BOI) is proposing to include the vertical mass housing component in the list of investments that will receive tax breaks from the government to spur the construction of more tenement style, low cost medium rise mass housing projects in Metro Manila.

Hongkong-based workers are keen in joining the home development mutual fund under its expanded coverage, according to Vice President Noli de Castro citing a report from Pag-Ibig Fund officials.

MANILA, Philippines—The government housing finance institution has expanded its mandatory coverage to include Filipino workers from formal and informal sectors here and abroad, it was learned Monday.