9th Sangguniang Panlungsod (30 June 2007 – 30 June 2010)

Summary/Additional Info:

Summary: This ordinance condones all penalties on unpaid amortizations for qualified beneficiaries of the Naga City Socialized Housing Program, provided they are on the original UPAO list (with limited exceptions for transferees), have a combined monthly income below Php20,000, and own no other real property worth more than Php300,000. Full payment of principal and interest grants 100% condonation, with a tiered system lowering the condonation rate if payment is made after 12 months. The benefit is one-time only, excludes cancelled lot awards, and will be implemented by the UPAO, which will also ensure that all qualified beneficiaries are informed within two months.