09/10/2008 [ tribune.net.ph ]
The House Committee on Housing and Urban Development will probe the National Home Mortgage Finance Corp. (NHMFC) for demanding unnecessary payments from its borrowers. The congressional inquiry was prompted by House Resolution 615 filed by Rep. Rufus Rodriguez (2nd District, Cagayan de Oro City), which raised the possible violation by NHMFC of Republic Act No. 8501, otherwise known as the Housing Loan Act of 1998. The Housing Loan Act was enacted for the purpose of condoning all unpaid penalties on housing loans from government institutions involved in the National Shelter Program of the government. In calling for the investigation, Rodriguez said there are reports that the NHMFC is charging its borrowers penalties, interests and other charges in violation of the Housing Loan Act. Rodriguez cited one Magdapa Paporo, a resident of Cagayan de Oro City, who was made to pay P170,000 even though his housing loan amounted only to P161,000. “Why will the NHMFC demand payment of penalties and other charges when under the law it is included as one of the agencies involved in the National Shelter Program of the government?” Rodriguez asked. He said he would closely monitor the case because it comes at a time when Congress is trying to provide relief to many people whose homes are being foreclosed. Charlie V. Manalo
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