Davao City Mayor Rodrigo Duterte yesterday warned the Balikatan Housing Financial Inc. from foreclosing housing units during the Christmas season if they do not want to face chaos not only from those who will be affected but even from those who will sympathize with them.
"Ayaw na i-foreclose karong December kay gubot na (do not foreclose the houses especially this December because there will be chaos)," Duterte said. He added Balikatan may have a point legally but it is not enough basis to kick the people out of their homes. "Asa man na ninyo sila papuy'on (where will they live if you kick them out from their houses), he added.
If Balikatan insists on foreclosing the houses, he said, the city government will be forced to go to court, sue them and get a restraining order. I have a lot of "fraternity" lawyer brods who can help in evaluating the contracts of these people, he said.
He said when Balikatan assumed the credits of these people from the National Home Mortgage Finance Corp. it has also assumed the responsibilities of the housing developers. Most of those whose houses are to be foreclosed did not pay because of some deficiencies on the part of the developers most of whom used substandard materials for the housing units.
This, he said, is not just a legal problem but a social problem which will not be solved by foreclosures. It is best for both parties to renegotiate so they can come up with a win-win solution, he added.
CBS revives Financial Wellness Roadshow for teachers
Around 500 participants joined China Bank Savings ’ (CBS) “Financial Wellness Roadshow for Teachers” Mindanao run. The free seminars were la...
