Repayment (Amortization)

"All member occupants must pay the full owing amount to the cooperative and transfer the occupying unit in their name within a term of 25 years or less from the date of purchase. In case of defaults, IHC reserves the right (as title holder) to pursue all legal actions to enforce payments through civil action or evacuate the property and replace the tenant with another member on the waiting list. All member occupants are encouraged to accelerate the repayment of their debt to the Cooperative at no extra costs. For full settlement of debts towards the cooperative, he/she will have to pay the original price that the cooperative had paid to buy the unit as well as all expenses/costs incurred thereon. The Cooperative, however, is not entitled to any share in gains or losses resulting from the change in the property’s value over time."

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