Sugbo News - PAG-IBIG SETS DEDICATED LANE FOR 93-1 LOT OCCUPANTS

Atty. Joseph Quiboloy, Pag-Ibig Fund Senior Vice President, said during a meeting at the Capitol that homeowners only need to submit the complete requirements to the agency via the special lane, and it will then take care of other matters, including the submission of the same to the Registry of Deeds for land titling.

PAG-IBIG SETS DEDICATED LANE FOR 93-1 LOT OCCUPANTS

Feb. 4, 2025

A dedicated lane is set up by Pag-Ibig Fund for loan applicants of homeowners living on 93-1 Properties who are availing of special arrangements brokered by the Cebu Provincial Government.

This expedited action followed a productive meeting between Gov. Gwen Garcia and President Ferdinand Marcos Jr. during his visit at the Capitol on January 30. Among other things, the Governor discussed with the President the ongoing challenges faced by 93-1 residents in finally buying the land where they built their homes from the Capitol.

The President’s support to the Capitol-led initiative helped secure PAG-IBIG’s full cooperation to oversee the loan application process for affected lot owners.

Under Provincial Ordinance No. 93-1 passed by the Provincial Board in 1993, the Capitol now sells its properties in Cebu City to the occupants at fair market value.

Such properties, now known as 93-1 lots, cover a total area of 51 hectares located in the Barangays of Busay, Luz, Lahug, Mabolo, Apas, Lorega, Kasambagan, Capitol Site, Tejero, Kamputhaw, and Kalunasan in Cebu City.

To facilitate their payment, Gov. Gwen has tapped the Pag-IBIG Fund to grant them loan applications. In this scheme, Pag-IBIG Fund will pay the Capitol fair market value for the properties; while the occupants will pay Pag-IBIG under the agency’s more liberal paying terms that could be stretched to as long as 30 years.

The consummation of this arrangement is slated in March this year when PAG-IBIG will begin releasing loan payments for the lots to the Cebu Provincial Government. In return, the Capitol will transfer the deed of sale to PAG-IBIG, who will hold the same until the occupants shall have fully paid.

Governor Gwen encouraged the homeowners, saying: “Chance na ni ninyo. Paningkamot mo.” She added, “Humanon ta gyod ni.” | JMT

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