Transport group members purchase Pag-IBIG homes

JEEPNEY AND Asian Utility Vehicle (AUV) drivers affiliated with the three transport groups who entered into a Memorandum of Understanding (MOU) with Pag-IBIG Fund purchased acquired properties of the Fund under its Home Matching Program.

The MOU enabled the provision of an affordable housing facility for the members of the transport sector.

The groups, namely Pasang Masda, The New Calamba Cabuyao San Pedro Jeepney Operators and Drivers’ Association (NCCS JODAI) and the Asian Utility Vehicle Driver Operator’s Association Inc. (AUVDOA), previously conducted an ocular inspection of the housing units available for disposition to their members.

“Our Chairman of the Pag-IBIG Board of Trustees, Vice President Jejomar C. Binay, has envisioned Pag-IBIG to be an inclusive government agency, encouraging those from the informal sector to register as members.  In return, we offer them member benefits such as access to our affordable housing loan programs.  So far, we have helped 87 of their members acquire homes for their families,” said Pag-IBIG Fund President & Chief Executive Officer, Atty. Darlene Marie B. Berberabe, adding that Pag-IBIG is continuously working with the transport groups to assist them in providing homes to as many of their members as possible.

Some of the homebuyers purchased Pag-IBIG’s acquired assets on an “as is, where is” basis while others preferred that the housing units be in “move-in condition” before being turned over to the homebuyer.  Improvements introduced to the housing units, under the “move-in condition” option, are done by a Pag-IBIG-accredited contractor.

“Because of the improvements introduced to the housing units, the collateral value of Pag-IBIG’s acquired assets increased and, at the same time, Pag-IBIG helped address the housing needs of the members of the transport groups,” said Berberabe.

With the disposition of the 87 acquired properties, Pag-IBIG generated an additional income of P23.781 Million.

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