Section 3Republic Act No. 6758, otherwise known as the Salary Standardization Law, and from other laws, rules and regulations on salaries and compensations; and to establish a Provident Fund and determine the , Sec./Art. 3

Statement of Objectives. Toward this end, the State shall integrate all laws providing for housing credit guaranty to attain the following objectives:

(a) Ensure continuous funding support to vigorously implement the governments programs for urban and rural housing, resettlement, the development of site and services, and the renewal of blighted areas;

(b) 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;

(c) 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;

(d) Increase the private sectors participation in the investment of their funds into the mainstream of housing finance for developmental and end-user financing requirements;

(e) Encourage the flow of private funds for mass housing development and homebuyers financing through a viable system of mortgage and credit guaranty;

(f) Enjoin the active participation of local government units in socialized housing programs through adequate measures for housing development in their respective areas;

(g) Strengthen the capital base and optimize the resources of the Nation Government and the Corporation to ensure that homeless families across the nation can enjoy benefits that can be derived from the governments guaranties facilities;

(h) Serve the housing requirement 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), Social Security System (SSS), and Home Development Mutual Fund (HDMF); and

(i) 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 II

HOME GUARANTY CORPORATION