Title.
Section 1
Section 1. Title. - This Act shall be known as the "Home Guaranty Corporation Act of 2000."
RA 8763 (Home Guaranty Corporation Act of 2000) CHAPTER I TITLE AND DECLARATION OF POLICY
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Declaration of Policy.
Section 2
SEC. 2. Declaration of Policy. - It is hereby declared the policy of the State to undertake, in cooperation with the private sector, a continuing nationwide housing program which will make available at affordable cost decent housing. In recognition of the role of housing as catalyst of economic growth and development, it is hereby declared a State policy to strengthen, promote and support the component activities of housing production and finance.
Statement of Objectives.
Section 3
SEC. 3. Statement of Objectives. - Towards this end, the State shall integrate all laws providing for housing credit guaranty to attain the following objectives: Ensure continuous funding support to vigorously implement the government's programs for urban and rural housing, resettlement, the development of sites and services, and the renewal of blighted areas; Enhance the capability of low-income groups to acquire decent and low-cost housing units through the introduction of support mechanisms and facilities which shall render affordable such acquisitions; Provide for a strong and sustainable housing finance program with complimentary support systems, which will pump prime, build-up and strengthen available sources of cheap and long-term capital; Increase the private sectors' participation in the investment of their funds into the mainstream of housing finance for developmental and end-user financing requirements; Encourage the flow of private funds for mass housing development and homebuyers' financing through a viable system of mortgage and credit guaranty; Enjoin the active participation of local government units in socialized housing programs through adequate measures for housing development in their respective areas; Strengthen the capital base and optimize the resources of the National Government and the Corporation to ensure that homeless families across the nation can enjoy the benefits that can be derived from the government's guaranty facilities; Serve the housing requirements of all the underprivileged and those gainfully employed, especially those who are not members of any funding agencies such as the Government Service and Insurance System (GSIS), the Social Security System (SSS), and the Home Development Mutual Fund (HDMF); and Institutionalize and promote the aided self-help approach in homeownership and introduce support facilities that will enhance the capability of low income groups to acquire decent housing. CHAPTER IIHOME GUARANTY CORPORATION
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