SOCIAL HOUSING FINANCE
CORPORATION
Processes Community Association’s (CA’s) requests or the
following :
 Individualization of:
1. Title (Subdivision of Moth...
SUBSTITUTIONSUBSTITUTIONHOW CAN A MEMBER-BENEFICIARY BE SUBSTITUTED ?
SUBSTITUTION
☞ Waiver of Rights
- Member- beneficiary voluntarily waives his or her rights to the
allocated lot
☞ Default ...
Documentary Requirements
(Waiver of Rights)
1. Notarized Original copy of Board Resolution
2. Notarized Amendment to the M...
WAIVER OF RIGHTSWAIVER OF RIGHTS
4. NOTARIZED ORIGINAL COPY OF WAIVER OF OUTGOING MEMBER-
BENEFICIARY OVER INTEREST AND RI...
WAIVER OF RIGHTSWAIVER OF RIGHTS
DEFAULT IN PAYMENTDEFAULT IN PAYMENT
STEP 1STEP 1
DEFAULT IN PAYMENTDEFAULT IN PAYMENT
STEP 2STEP 2
DEFAULT IN PAYMENTDEFAULT IN PAYMENT
STEP 2STEP 2
INDIVIDUALIZATIONINDIVIDUALIZATION
TCT # 40001
HOAI
______
______
TCT # 40001
HOAI
______
______
TCT # 0001
JUAN D. CRUZ
____________
____________
TCT # 0001...
ADJUSTED LOAN VALUE
(FINAL MASTERLIST OF MBs)
SUBDIVISION / INDIVIDUALIZATION
OF MOTHER TITLE/S
(INDIVIDUALIZED TCTs ARE S...
Documentary Requirements
For STAGE 1
ADJUSTED LOAN
VALUE
ALV X 0.41/1000= MRITC – EQ = ALV∑TC X HL / THL= TC
∑TC = SUMMATION OF TOTAL COST
(TOTAL LOAN AMOUNT +...
STAGE 2
(UNITIZATION OF COMMUNAL LOAN & TRANSFER
OFTITLE INTO MEMBER-BENEFICIARY’S NAME)
CHECKLIST OF DOCUMENTARY REQUIREM...
DOSAM FORMS
(DEED OF SALE WITH ASSUMPTION OF
MORTGAGE)
PROMISSORY NOTE FORMS
“ONE-SHOT INDIVIDUALIZATION”
“ONE-SHOT INDIVIDUALIZATION”
NOTE : This One-Shot Individualization is an option given only
to CA’s with CER of 80 % and a...
“ONE-SHOT INDIVIDUALIZATION”
1 2
7
8
6 5
EXIT
OTHER CHECKLIST
MA. SYLVIA N. MENDOZA
CHARINA Y. BENITEZ
JULIA C. FRADES
LORNA P. PADUA
ANA MARIE Y. MISOLES
SUBSTITUTION INDIVIDUALIZATI
...
MA. SYLVIA N. MENDOZA
CHARINA Y. BENITEZ
JULIA C. FRADES
LORNA P. PADUA
ANA MARIE Y. MISOLES
PERRY D. ALAMBRO
JOSEPH J. HA...
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
Individualization of Lot SHFC
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Individualization of Lot SHFC

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Individualization of Lot SHFC

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Individualization of Lot SHFC

  1. 1. SOCIAL HOUSING FINANCE CORPORATION
  2. 2. Processes Community Association’s (CA’s) requests or the following :  Individualization of: 1. Title (Subdivision of Mother Title or Stage 1) 2. Computation of Adjusted Loan Value (Final Masterlist of Beneficiaries and Loan Apportionment) 3. Loan (Unitization or Stage 2)  Substitution of Member-Beneficiaries: 1. Voluntarily Waiver of Rights 2. Default in Payment (3 consecutive monthly amortization or more) 3. Violation of Ordinances and By-Laws of Community Association  Issuance of Certification: 1. As member-beneficiaries of the CA of elected officers/trustees or directors (for HLURB purposes) 2. Capital Gains Tax Exemption (for Stage 2 purposes)  Donation/Sale of Roadways and Open Spaces to the Local Government Unit
  3. 3. SUBSTITUTIONSUBSTITUTIONHOW CAN A MEMBER-BENEFICIARY BE SUBSTITUTED ?
  4. 4. SUBSTITUTION ☞ Waiver of Rights - Member- beneficiary voluntarily waives his or her rights to the allocated lot ☞ Default in Payment - Member-beneficiary is in default in the payment of his or her amortizations equivalent to at least three (3) consecutive months or more ☞ Violation of Rules and Regulations - Member-beneficiary violates existing laws and ordinances on land use in the locality, CA and/or SHFC rules and regulations.
  5. 5. Documentary Requirements (Waiver of Rights) 1. Notarized Original copy of Board Resolution 2. Notarized Amendment to the Masterlist of MBs 3. Lease Purchase Agreement (LPA) of substitute 4. Notarized Original copy of Waiver of outgoing MB’s rights on the awarded lot 5. Notarized Certification from CA president /authorized officer stating that the account of outgoing MB is updated/fully paid 6. Photocopies of Abstract of Collection with Community Mortgage Receipt as proofs that the account is updated 7. Proof of payment of Substitution Processing Fee of P 500.00 per member-beneficiary SUBSTITUTION
  6. 6. WAIVER OF RIGHTSWAIVER OF RIGHTS 4. NOTARIZED ORIGINAL COPY OF WAIVER OF OUTGOING MEMBER- BENEFICIARY OVER INTEREST AND RIGHTS ON THE AWARDED LOT. IF MARRIED, WITH MARITAL CONSENT IF SEPARATED, SUBMIT COURT DECISION OF ANNULMENT OF MARRIAGE
  7. 7. WAIVER OF RIGHTSWAIVER OF RIGHTS
  8. 8. DEFAULT IN PAYMENTDEFAULT IN PAYMENT STEP 1STEP 1
  9. 9. DEFAULT IN PAYMENTDEFAULT IN PAYMENT STEP 2STEP 2
  10. 10. DEFAULT IN PAYMENTDEFAULT IN PAYMENT STEP 2STEP 2
  11. 11. INDIVIDUALIZATIONINDIVIDUALIZATION
  12. 12. TCT # 40001 HOAI ______ ______ TCT # 40001 HOAI ______ ______ TCT # 0001 JUAN D. CRUZ ____________ ____________ TCT # 0001 JUAN D. CRUZ ____________ ____________
  13. 13. ADJUSTED LOAN VALUE (FINAL MASTERLIST OF MBs) SUBDIVISION / INDIVIDUALIZATION OF MOTHER TITLE/S (INDIVIDUALIZED TCTs ARE STILL UNDER CA’s NAME) UNITIZATION / INDIVIDUALIZATION OF LOAN (TRANSFER OF TITLE FROM CA’s NAME TO MB’s NAME) ALV STAGE 1 STAGE 2
  14. 14. Documentary Requirements For STAGE 1
  15. 15. ADJUSTED LOAN VALUE ALV X 0.41/1000= MRITC – EQ = ALV∑TC X HL / THL= TC ∑TC = SUMMATION OF TOTAL COST (TOTAL LOAN AMOUNT + TOTAL EQUITY) HL = HOMELOT THL = TOTAL HOME LOT TC = TOTAL COST EQ = EQUITY ALV=ADJUSTED LOAN VALUE ALV X 0.00644301= P/I
  16. 16. STAGE 2 (UNITIZATION OF COMMUNAL LOAN & TRANSFER OFTITLE INTO MEMBER-BENEFICIARY’S NAME) CHECKLIST OF DOCUMENTARY REQUIREMENTS 1. CERTIFICATION ISSUED BY THE HOUSING LAND USE REGULATORY BOARD (HLURB) ON THE PRESENT SET OF OFFICER OR DIRECTORS 2. PHOTOCOPY OF TITLE 3. PROOF OF PAYMENT OF INDIVIDUAL REAL PROPERTY TAX NOTE: Only those Member-beneficiaries with updated accounts are qualified to undergo this Stage
  17. 17. DOSAM FORMS (DEED OF SALE WITH ASSUMPTION OF MORTGAGE) PROMISSORY NOTE FORMS
  18. 18. “ONE-SHOT INDIVIDUALIZATION”
  19. 19. “ONE-SHOT INDIVIDUALIZATION” NOTE : This One-Shot Individualization is an option given only to CA’s with CER of 80 % and above as in incentive to them
  20. 20. “ONE-SHOT INDIVIDUALIZATION” 1 2 7 8 6 5
  21. 21. EXIT OTHER CHECKLIST
  22. 22. MA. SYLVIA N. MENDOZA CHARINA Y. BENITEZ JULIA C. FRADES LORNA P. PADUA ANA MARIE Y. MISOLES SUBSTITUTION INDIVIDUALIZATI ON PROJECT INDIVIDUALIZATION DEPARTMENT TRUNKLINE .: 750-6337 to 65 Local 541/542 THANK YOU… JULITA R. PARREÑO MANAGER MS. DELIA V. SILVIA CHIEF OF DIVISION PERRY D. ALAMBRO JOSEPH J. HAYAGAN
  23. 23. MA. SYLVIA N. MENDOZA CHARINA Y. BENITEZ JULIA C. FRADES LORNA P. PADUA ANA MARIE Y. MISOLES PERRY D. ALAMBRO JOSEPH J. HAYAGAN SUBSTITUTION INDIVIDUALIZATI ON PROJECT INDIVIDUALIZATION DEPARTMENT TRUNKLINE .: 750-6337 to 65 Local 541/542 THANK YOU… ENGR. FELMAN R. GILBANG MANAGER MS. DELIA V. SILVIA CHIEF OF DIVISION
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