DHSUD revives CMP for 5,000 low-income families

The Department of Human Settlements and Urban Development (DHSUD) has approved a proposal to revive on-site Community Mortgage Program (CMP) projects, aiming to provide land ownership for over 5,000 low-income Filipino families.

SHFC President Federico Laxa identified eight initial CMP sites in various locations including Pasig, Valenzuela, Ilocos Norte, and Roxas City, with plans to begin awarding these sites by October.

The enhanced CMP now includes additional loans for community development and site upgrading, reflecting President Ferdinand Marcos Jr.'s directive for pro-poor and people-centered programs.

Key enhancements have been introduced to streamline CMP project implementation, including partnerships with agencies like Tesda for skills training and collaborations with the Department of Transportation on resettlement projects.

The CMP program aims to help residents in depressed areas gain ownership of the land they occupy or relocate to, fostering sustainable and resilient communities through a 6 percent annual interest rate loan over up to 25 years.