The Community Mortgage Program is a socialized housing initiative of the

Philippine Government The Government of the Philippines ( fil, Pamahalaan ng Pilipinas) has three interdependent branches: the legislative, executive, and judicial branches. The Philippines is governed as a unitary state under a presidential representative and d ...

. By 2001, 106,273 families had found secure tenure.

Program

The Community Mortgage Program (CMP) was set up following the

People Power Revolution The People Power Revolution, also known as the EDSA Revolution or the February Revolution, was a series of popular demonstrations in the Philippines, mostly in Metro Manila, from February 22 to 25, 1986. There was a sustained campaign of c ...

(EDSA I) of 1988. It aims to help low-income families who are

squatting Squatting is the action of occupying an abandoned or unoccupied area of land or a building, usually residential, that the squatter does not own, rent or otherwise have lawful permission to use. The United Nations estimated in 2003 that there ...

to find secure tenure by establishing community associations to buy land, to set up infrastructure and to build houses. In 1992, the CMP was taken under the National Shelter Program by Republic Act Number 7279, the Urban Development and Housing Act. Then in 2004, Social Housing Finance Corporation (SHFC) was created through Executive Order Number 272 and the CMP alongside other housing initiatives was moved under its control. In the 1990s, individual families could get loans to fund housing construction, namely 30,000 pesos for undeveloped land, 45,000 pesos for developed land and 80,000 pesos for a house with lot. The loans were given at 6% interest on a 25-year repayment plan.

Legacy

The efficiency of the program was challenged by budget cuts and crises in the National Housing Mortgage Finance Corporation. By 2001, the CMP had helped 106,273 families to set up 854 communities.

References

{{Authority control Law of the Philippines Public housing in the Philippines Presidency of Corazon Aquino Squatting in the Philippines