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Due to insistent demand from the government and private sector employees, Vice President and Chairman of the Housing and Urban Development Coordinating Council (HUDCC), Noli ‘Kabayan’ De Castro announced today that the Housing Fair held in October last year will have a repeat and will be held yearly thereafter.

With the theme ‘Serbisyong Tapat, Abot-Kayang Pabahay para sa Lahat’, the Fair will be  held on October 23-25, 2007 at the Megatrade Hall 1 of the SM Megamall in Mandaluyong  City.

Participating in this year’s Fair are the housing agencies – Home Guaranty Corp., Housing and Land Use Regulatory Board, National Home Mortgage Finance Corp., National Housing Authority, Pag-IBIG Fund and Social Housing Finance Corp.—and government financial institutions including the Government Service Insurance System, the Social Security System, and the Bangko Sentral ng Pilipinas.

The Vice President said that some 40,000 foreclosed properties and acquired assets of the participating agencies would be offered to both public and private sector employees including overseas Filipino workers.
 
“The units have an interest rate of as low as 6% per annum, and the repayment period is as long as 30 years, depending on the agency or institution. Buyers may also avail of discounts on the selling price,” the Vice President said. The monthly amortization shall be paid through salary deduction. Payment in cash or Post Dated Checks may be allowed by the concerned agencies.

Each participating agency or GFI has its own set of terms and conditions for the sale of properties in its inventory. Interested buyers have to be evaluated by the seller agency to determine their eligibility for cash or loan availment.

Prospective buyers may already fill out a Reservation Form at the Housing Fair if they find a property that they want to purchase. 
 
Aside from the sale of acquired assets, the Housing Fair will also showcase brand new housing units being offered by various private developers in their respective projects.

De Castro said this Housing Fair “will give the people various options depending on their preference and capacity to pay. There’s something for everyone in this event—we’re allowing them to make choices.”

The complete list of foreclosed properties on sale will be made available at the foyer of Megatrade Hall 1, 5th Floor, SM Megamall Building B during the Fair. For more information, interested parties may call 812-6495. (end)