It all started with delayed or missed payments against the home loan obligation.
Those who have been granted a Housing Loan by the Pag-IBIG Fund should be aware that three (3) missed payments on the monthly amortization could lead to foreclosure — a sort of disaster.
What would you do if your property is on the brink of foreclosure and you are facing financial difficulties as well?
We can’t tell how many of our visitors are into that situations.
If you know someone who is facing foreclosure, or has already defaulted on their amortizations, please help them out by sharing this article. This article could save them, or their house for that matter.
A Visitor’s Comment: “Last year my husband applied for a housing loan and it was approved, but now we have missed more than 3 payments. Is it possible to repay the missed payments and reduce the mortgage term of the loan? What step should we do? Thanks!”
Special Note: Pag-IBIG Fund is currently running a Housing Loan Restructuring and Penalty Condonation Program. The program started last January 2, 2012 and will end June 30, 2012. After June 30, only the loan restructuring will be entertained. Members who have missed paying their monthly amortizations for more than three (3) months may avail of this program.
Condonation means the relief given by law in the payment of penalties, surcharges and a portion of accrued interest to be determined by the Pag-IBIG Fund.
Loan Restructuring refers to a process where the principal terms and conditions of the original loan are modified in accordance with an agreement setting forth a new plan of payment or a schedule of payment on a periodic basis.
Related: Pag-IBIG Housing Loan Default and Foreclosure
Loan Restructuring : Refinancing Under Financial Distress
There are many reasons why borrowers default on their loan payments. Luckily for the Pag-IBIG members, there’s a Loan Restructuring program that they can take advantage of as a remedy to their delinquent accounts.
Here are the benefits of the Loan Restructuring Program:
- It allows the home owner to save the property from being taken away from them through the foreclosure process.
- It allows the borrower to shorten or lengthen (and thus the term “restructure” ) the term of the loan, whatever is deemed an affordable loan term for him.
- Interests and penalties due during the delinquency period could be waived.
See also : Foreclosure Properties — To Buy Or Not To Buy?
Who Can and Who Can’t Apply For the Home Loan Restructuring Program?
- Member-borrowers who have not yet availed of any penalty condonation program from any Government Financial Institution, for example, HDMF, GSIS, SSS.
- Borrowers who have missed payments on their monthly amortizations for at least 3 months.
- Borrowers whose property was already endorsed for foreclosure, but whose redemption period has not yet lapsed.
- Borrowers whose property was already foreclosed but the winning bidder is the Pag-IBIG Fund.
- Legal heirs of deceased borrowers with unpaid loan balances after application of the proceeds of the Mortgage/Sales Redemption Insurance (MRI/SRI).
- Successors-in-interest of borrowers who have assumed the original mortgage as supported by legal documents duly approved by the Fund.
However, Pag-IBIG is very strict against some accounts that should not be eligible to avail of this program. The following accounts are exempted from tapping this benefit:
- Any account without a single payment since takeout, including those whose only payment resulted from its deduction from the takeout proceeds.
- An account in which the housing unit has been abandoned by the borrower for more than one (1) year from date of delinquency.
- An account in which the housing unit is occupied by a third party other than the original registered beneficiary or his/her legal heirs or successors-in-interest.
- An account that has been foreclosed and another party is the winning bidder.
- An account that has been foreclosed and with expired redemption period.
- An account under a Contract-to-Sell that has been cancelled.
- An account that has been surrendered to the Fund through Dacion en Pago, the title of which had been consolidated or transferred in the name of the Fund.
- A Contract-to-Sell account covered by the developer’s buyback guarantee.
About The New Restructured Housing Loan
The following are among the most important things you should know about the new restructured loan.
Loan Term — The Home Development Mutual Fund offers a very generous loan term of up to 30 years on the newly restructured housing loan. However, it should be noted that the age of the borrower must not be more than 70 by the time the loan matures.
Interest Rate — The interest rate is 12% per annum or the rate of the original loan, whichever is lower and must be applied against the interest-bearing portion of the loan amount.
Penalty — If the borrower fails to pay any amount due on or before the due date he will charged a penalty of one-twentieth of one percent (1/20 of 1%) of the amount due for the month per day of delay.
Repricing — If the original loan amount is more than Three Hundred Thousand Pesos (P300,000.00), the new restricted loan shall be subject to repricing every three years, reckoned from the date of approval of loan restructuring.
Compare This With: The Current Rates of Interest and Penalties of Pag-IBIG Loans
What To Do Next?
If you are now so eager to restructure, please visit the Pag-IBIG Office that has the jurisdiction of your account and possibly your mortgaged property. Inquire about the full details of this program.
Plus, remember that the penalty dues will only be condoned when you apply not later than June 30, 2012. (As far as this current program is concerned.)
After reading this article, I hope that you will share this to a friend who is also a member of the Pag-IBIG Fund just so he/she knows what to do when foreclosure clock begins to tick.
~~~
“Home Loan Restructuring Program” is written by Carlos Velasco.
thanks to Mr. Carlos Velasco and Pag Ibig staff for sharing this very important information about fore closure and restructuring program very informative! hope visitors and viewers specially OFW or Xpat who are victims of war and natural calamity like earthquake tidal wave nuclear and of course illigal recruitment losed their job?
i have a lot loan since october 2010 situated in one barangay. it is payable within 15 years. Now I want to apply a housing loan for the foreclosed property (house and lot) located in the other barangay. What shall I do? can I apply another loan? If I will pay the remaining amount of my lot loan, can i apply the house and lot loan immediately? how many days will it be approved?Thanks
@Romeo:
Thanks for visiting, too. We appreciate your feedback.
@yam:
You first loan has to be fully paid before you can get another housing loan.
I have a loan under pagibig since nov 2010 payable in 30 years 9.5% PA. Can I apply for restructure even if the TCT shows my developer is the owner.
hi, pwede po ba magparestructured kahit wla nman akong namimis na payment? ang ibig ko pong sabihin eh mahigit 5 yrs. na ako nagbabayad ng mo. amort ko na supposed to be 7k lng dapat ang mo.amort ko pero ang binabayad ko po eh 10k per month. ang tanong ko po ay pwede bang pababain ko ang actual mo. amort with same term na 30 yrs? ung 3k na sobra sa payment pinapaaply ko po sa principal.
Thanks!
@Mark:
Yes, you can restructure your loan that way too. But if you can afford it, why would you want to do that? 🙂
Hint: Please ask for a statement of your past payments and verify that the excess amount is really used to cover the principal.
@ei:
Yes
Thanks for the info, I am planning to apply for the penalty condonation for my housing loan..
Can I have the contact numbers for inquiries..
sir, nag lot loan po ako noong 2006 my mo amort is 3782, for P,366,000.
my current ballance is P285000.00 pwedi po e restructure sasangla ko ulit sa pag ibig ng 400k,? for 30yrs? para po maka sobra ako ng 100k pang start po ng construction.
May loan po ako under pagibig since 2009, and was able to pay until May 2010. Then I suffered a stroke in July 2010. I have not fully recovered from my stroke yet, but is gainfully earning now. Can I still continue paying for my amortization? What number should I call for other concerns. thanks and God bless!
Hello po. I’d like to ask po. Meron po kasi akong house and lot na ni loan ko sa pagibig and its payable for 30 years and ive been paying for 3 years na 4300 yung monthly amortization. Im planning po sana na i pa renovate yung house, i extend sana since it has only 1 bedroom…
Questions ko po..
1. pwede po ba yan mag loan ulit for house renovation under my name pa rin at idagdag dag lang sa existing loan ko at madagdagan din yung monthly amortization ko?
another question.. let say my husband is a pagibig member din for 5 years na and wala pa syang housing loan. can we use his pagibig membership na mag loan for house construction/renovation pero yung house na i rerenovate eh yung house na napakangalan sa akin na wife nya na naka loan din sa pag ibig?
Yun lang po.. and salamat…
God Bless!
@Gen:
It’s YES in both cases. Go for it, visit the Pag-IBIG Branch where you got your home loan and apply for a home improvement loan.
@Nedy:
Yes, please explain your case to them. And the number to call is the one at the branch where you got the home loan.
@Rommel:
If you are planning to construct a house on that lot, please apply for a home contruction loan instead.
@Jean:
The number to use is the one at the branch where you got your housing loan.
hello po. inquire ko lng po ksi may housing loan po ako sa pag-ibig. Since November, 2010 up to now di ko po nababayaran yong monthly amortization ko because of financial problem. Tanong ko lng po kung alin sa dalawa ang pede kung iacquire. Housing Loan Restructing or Penalty Condonation Program? Salamat po……
hello po!! sir ask ko lang po kung pwede po kami makaavail s bagong restructuring program ng pag ibig? kasi po 2 years n po kaming di nakakabayd at nag notice n samin ang pag ibig forclosure n po! ayaw po namin n mawala ang property po na ito! anu po ang gagawin namin? saan po mag iinquire? please po pa response po as soon as possible! thank you po
Hello po, i’d like to ask kung ano po mangyayari kung arrears ako ng 5mos. i have no idea na pinull out pala ng developer ko ung checks ko for replacement pero i didn’t received any advise sa developer. when i received ung statement, dun ko lng nalaman na past due ako. pero i have all the statements from my bank na up to date ako magbayad para sa post dated checks ko. and i went to pag ibig na to settle ung past due. ma-ssubject for forclosure pa rin ba ung house na kinuha ko? Thanks.
Hi, is it possible na hindi mag avail nito at bayaran na lang yung yun kulang before the said date to avail Restructured Housing Loan let’s say June 2012?
gud pm po.ask ko lng po kung pwede akong mag avail sa inyong bagong program na housing loan restructuring and penalty condonation program if 5 years na po akong di nakakabayad? pumunta po akong ng pag ibid makati last setember 2011 ngtatanong po sana ako kung anong pwedeng gawin pero bnigyan lng po nila ako ng number at pinatatawag na lng ako. kaya nga po personal na akong pumunta pero wala pa rin pong nanagyari… sana matulungan nyo ako tru your new program. ayaw ko pong mawala bahay sakin.ano ang dapat kong gawin? please help.
wait ko po sagot nyo. tnx po.
admin ask ko lang po requirements ng reconstruction of housing loan..6 months npo kami d nakakabayad kasi nawalan ng work asawa ko. ngayon nasa saudi na sya gusto na nmin magbayad ng 6months. pupunta ako sa pag-ibig sa mandaluyong pero gusto ko muna i-complete ang mga requirements para d nko pabalik-balik pa dun kasi nandito kami sa laguna. nakapangalan po sa asawa ko ang housing loan. thanks po
gud am po, foreclosed po ang housing loan ko, at at voluntary sinurrender ko sa pagibig to make sure na wala akong maging problema, now gusto kong mag avail ng bagong housing loan, pwede pa po ba? what are the steps and requirements? thank you
hi po ask lng po kung pwede npo ako mag loan ng pang pagawa ng bahay 1yrs palang po ako members pero bayad ko npo ung pang 2yrs m.o mont ko at ano po ba kailangan ko igayak n paper ofw po ako dito sa italy salamat po,,,
Hi! Will the seller still pay the capital gain tax if in case his property was assumed by a buyer at a value lower than the total payments he already made to Pag-Ibig?
Thanks!
Good morning, ma’am/sir i’am an OFW and i have a housing loan approved february 2010 4 months napo akong delayed ang huling bayad kopo ay nung march 9, 2012 para sa buwan ng october 2011, for now po kasi i’m facing financial difficulties because i have 2 college and 1 high school po, ayaw kopo namang mawala ang bahay na siya lamang po ang tanging maipupundar ko sa aking pangingibang bansa ano po ba ang dapat kong gawin para po hindi ma forfiet ang bahay ko sa panahon po kasi ngayon medyo mahirap kopa ma update dahil po sa kadahilang barayan nanaman po ng eskwela sana po matulungan nyo po ako para po hindi mawala ang property na siya lang po ang meron ako bukod sa pag aaral ng mga anak ko. maring salamat po.
good day,
my brother nag loan po cya sa pag-ibig ng rowhouse at giniba nila ang bahay at pinatayuan nila ng building na 3 storey at mga 7 years na sila hindi nakabayad at ang principal amount na inutang nila sa pag-ibig ay 611,000 pero sa ngayun may penalty na 460,000 at ang interest umabot ng 760,000,,,so ang tanong ko puede ko ba bilhin ang property sa pag-ibig at kung may posibility ba na matanggal ang penalty at part ng interest kung ecash out ko sa pag-ibig?kc bayaran ko rin ang brother ko ng konte sa pag pagawa ng building…so kung mabayaran ko ang pag-ibig ilang araw ba ma transfer sa aking ang title ng property?at ano ba ang kailangan na documents para ma transfer sa aking ang property?thanks
Hello po. ask ko lng po. Meron po kasi akong house and lot (townhouse) na ni loan ko sa pagibig and its payable for 30 years and ive been paying for 2 years na 4300 yung monthly amortization. Im planning po sana na i pa renovate yung house….
Questions ko po..
pwede po ba yan mag loan ulit for house renovation under my name pa rin at idagdag dag lang sa existing loan ko at madagdagan din yung monthly amortization ko…thanks
I am residing outside the Philippines and my account for my housing loan was never paid for more than 5 yrs. I’m no longer interested in the property and would like to know the consequences for not informing the Pag-IBIG.
hi po,
matanong lang po kong pwede po bang in one membership ng pag-ibig pwede bang dalawa na housing loan ang makukuha ko? or dapat muna babayaran ko ang first loan ko na housing loan? wala po bang both house na i-lo-loan?at the same time? salamat po
posible po ba na bumaba ang interest rate ng previous loan ko after na ma re- structure? dati po kc 12% ang interest rate ng housing loan ko.
thanks and more power.
Hi Admin, nag-acquire po ako ng “Foreclosed Asset” nung 2008 it was approved on March 2009. We moved in even before it was approved. I got pregnant on 2009 and 2011 which made it difficult for us to have our mortgage updated with payments. We’ve missed 20 months payment. We paid half of it on February 21, 2012 and they made me sign a Promissory note only good for 2 months, so I need to pay P16k++ for each month (March 27 and April 27) to keep my account updated, but yesterday (03/14/2012) I received a letter from Pag-Ibig about loan condonation program that I could take advantage of. Paano po ang process nito? kelangan ko pa rin po bang mag-comply sa promissory note which I’m having difficulties to do dahil sa laki ng amount or should I apply for the loan condonation instead? Naguguluhan na po ako dahil I’m worried that my Contract to sell might be cancelled since I really can’t afford to pay the amount stated on the promissory note. 🙁
May problem po ako bale hinabilin skin ng mama ko at sa tita ko yung payment or monthly amort ng bahay nya sa cavite.ang nangyari hindi nakakabayad ang tiyahin ko.Bale last november 2010 pa po ung huling payment.Nasa 36000 po yung utang namin n s monthly amortization at may notice for forclosure narin po kami.Masusurvive po kaya un?At paano po? Maraming Salamat po s sasagot.godbless
hi po peyde po b me mag loan ng cash pang gawa ng bahay ko..?
isa po akong seaman.thank you!
@joen:
A Pag-IBIG Housing Loan is to be secured by a collateral which is the land title.
@Gail:
Please visit the office immediately and refer your case.
@Grace:
Please visit the branch for the whole process.
@willie:
I’m afraid not.
@joy:
You have to pay in full first your housing loan becore you can take another one.
@Ramon:
I think it’s already foreclosed.
@mitch:
Yes.
@freddie:
You may try to negotiate with them.
If it is already foreclosed, its fine with me since I’m no longer interested in the property. In addition to my querry, how come my mother receives a notice of unpaid dues from the Homeowners Aassociation up to now? I never resided the property since I started paying my amortization up to the time I stoped by payments. I believe someone else is residing in the property who is not paying their dues. This propery is in Tanza, Cavite. I hope you can investigate this matter if this is still under the PagIBIG jurisdiction.
Ramon,
I think you can just ignore that notice from the Home Owners Association. And Pag-IBIG is not in anyway connected with any HOA anywhere in the country.
admin, magtatanung lng po ako. Since January, 2012 up to now di ko po nababayaran yong monthly amortization ko because of financial problem.bali 4 months na po. wla po akong work now bali nag aantay po ako ng visa ko upang makaalis ppntang ibang bansa, Tanong ko lng po ano po ba ang dapat kung gawin?pwede ko bang ipa housing Loan Restructure? Salamat po……waiting for your comment.
Ruel,
Your options would be:
1. To sell it or have someone assume your loan.
2. Get help in paying for it.
3. Don’t pay it… BUT, this one will lead to foreclosure eventually.
You may want to restructure also but it goes back to the question of your capacity to pay. And that means, you will have to provide some proof of income.
Hi admin! Im an ofw paanu po mag apply ng home laon restructure program pwede po ba wife ko in my behalf anu po mg requirements..Thanks.
Tanong lang po kung paano ang magloan for housing construction kasi di pa po ako nakapaghousing loan.gusto ko po kasi sa province ako magpatayo ng bahay pero dito po ako sa manila nagwowork.ano po ba ang mga kailangan na dokumento para makapagloan for housing construction.
Ask ko lang po, nakapag avail na ako ng restructuring ng housing loan before, ngayn mayron ako ulit unpaid amortization na kailangan ko ipa restructure pwede po ba ulit for the 2nd time? na condon yong dating penalty.
tnx
good day po,
ask ko lng po regarding sa pag apply ko ng housing loan restructure.seaman po ako at umabot ng 18 months(154,112.98 plus interest) ang di ko nabayaran sa dahilang nagkaroon po ako ng problema financial lalo na po pag naka standby ng 4-5months nahihirapan po akong mabayaran ito hanggang sa naipon kaya nag apply po ako sa programa nyo para ma extend ung length of years ng contract.kaso po,bago ko raw po ma avail ung loan kelangan ko daw bayaran ung downpayment na 31,000 plus 18k na conversion cost at 1month advance so umabot e2 ng mahgit 50k.sa lastweek of May pa po ang sakay ko ng barko,at ung programa nyo ay till june 30 nlang po at di ko na mahabol ang palugit sa laki ng downpayment at dahil meron pa po akong mga utang.ask ko lng po kng puede pa ba ma extend ung programa nyo?ano po ba maganda kong gawin para di umabot sa foreclosure ung haus?maraming salamat..
A pleasant day to you. I have just been given notice by pag-ibig that I can avail of the housing loan restructuring and penalty condonation program since I am at default of my monthly ammortization. As I am currently unemployed due to health reasons, would it be possible for my wife to be the one to apply for the restructuring program as she is the one with a regular job and is also a pag-ibig member. My pag-ibig membership contribution is also at default. Kindly please advise.
Thanks and regards
bOng
hello admin,
in addition po sa mga katanungan ko,if ever di ko na po ituloy ung housing loan reconstruction na inaplay ko pro ituloy ko pa rin po ang pagbabayad ng monthly amortizations with interest next 2months,meron pa rin ba chance na di ma foreclose ung house ko?two years na lang po matapos ko na ang bayaran if i’ve given the chance by pag ibig to pay it within two years.sna po mabigyan nyo ako ng isang magandang advise regarding this matter.ayokong mawala ung pinaghirapan ko,kaso lng po talagang may panahon na ngkakaroon tayo ng financial crisis na hindi po maiiwasan.maraming salamat po..
Good Day, Admin,
For in case, na ma deceased ang member what will happen to his outstanding loan? sa lupa at bahay nya ano po ang mangyayari? Apektado po ma ang benefits na makukuha ng beneficiary? for my curiosity lng po.
Salamat.
@ruel:
What I can suggest for now is for you to avail of the loan restructuring program.
@rael:
You’re right. Just let your wife do it on your behalf by going to the branch where you got the home loan.
@felix:
The Pag-IBIG Fund has some rules to follow. If you can find other sources of loan, that would be helpful. Or better yet,
sell your property.
@Bong:
Yes, your wife can process it, too.
@butxh:
If it is covered by a mortgage redemption insurance, most likely it will be fully paid and turned over to the heirs.
Hi sir, ask ko lang we are currently delinquent since Jan 2012 to April 2012 and un account nmin is under pa sa developer, but will end this Mar 2012. I will pay my dues this April 30, kaso gusto ko po sana mag avail ng condonation but according to Pagibig office hindi daw po pwede if ang account owner ay unemployed..Try ko po sana gamitin un account ko kaso may loan din ako sa pagibig nun dalaga ko para sa house ng parents ko. NOw ang gusto ko lang po sana malaman is pwede ba akong mag request na mapa longterm un years of payment ko from 15yrs to 30yrs?! kasi po sa bgat ng bnbyaran ko na 9k per month.. baka po sa huli mawala nalang un bahay namin.pwede kaya po un?
@jeng:
What do you mean when you say it is still under the developer? Do you have an approved loan already?
hi im a first timer..i dont have an yany ideas regarding sa housing loan para maka avail and house renovation..since 2005-2007 member ako then nagbabayad then nag stop ako ng work just to finished my studies…nagkawork ako but there’s no pag ibig benefits in a two years(2008-2010) then found new job with a pag ibig benefits..til now im still working for my same compaany…can u give me a details as a first time about sa house loand and renovation..a little bit f summary para makapag ready..thanks..
hi, i’m planning on loan restructing to lessen the years from 30 to about 10 or below. Before I go to pagibig office, do you have any calculations for the restructuring so I can somehow calculate ( my new amort sched) it before hand and understand it? Thanks in advance
sir/MADAM, your website is a blessing sa lahat ng members ng pag-ibig. THANK YOU.
gusto ko lang po sana mag patulong.namatay po ang father ko na foreclosed ang house namin, yung nakuha namin sa GSIS nya ang ginamit namin para masave ang house, up dated napo kami sa payments pero hirap na hirap na kami to the point na wala ng pinipuntahan ang sahod namin kundi sa bahay, tumigil na sa medication ang mother ko (cancer survivor po sya) para lang may pambayad ng house..may balance pa po kami na 400k plus, 8thou po monthly namin payable pa in 5 yrs,59 yrs old na po ang mom ko.pwede po ba i restructure ang balance para i ma lengthen ang term hangang 70 yrs. old sya?this way bababa ang monthly namin?how much po kaya?
hind po ba na pwede ako na lang mag hulog or mag loan para mas longer ang terms, 32 yrs. old po ako.may babayaran po ba ako sa gantong proseso.?what do you suggest po?
thank you, Godbless!!
Hi Admin,
Would like to ask the charges when selling or buying a house.
What are the charges / fees when selling or buying a house?
Who will shoulder the fees & charges?
What is the Int Rate for Capital Gain Tax? Where to verify? Who will shoulder?
Thanks
@van:
Please refer to this article:
https://www.pagibigfinancing.com/articles/2012/email-exchange-buying-preparation-unpaid-amortization-membership-reactivation-etc/
The first part shows some tips for first-time home buyers.
@Mike:
Sorry, but we don’t have a calculator to do that yet.
@treb:
I’m sorry to hear about that. But you can try to go to the office and ask them to restructure the loan to a longer term. This way, it will be easier on your budget.
@pnoy:
Some charges:
Capital Gains Tax, Title Transfer, Documentary Stamp Tax, Lawyer’s fee, etc. Normally, you split the fees with the buyer and seller, but of course, everything is negotiable.
Ask ko lang po pagnakapag avail na ako ng restructuring/condonation ng housing loan before then di ko ulet nabayaran for ilang years at ngayon may dumating ulet na letter na foreclosure na yung bahay namen pede po ba ko mag avail ulet ng restructuring or condonation program. At kung ang date po ng foreclosure is May 13 pede pa po ba maadjust yun. Kase ang payment na hinihingi is 500 thousand pede ko pa ba marequest na maliitan nila yun kahit kalahati?
tnx
Good morning! I would just like to clarify what #5 (“Legal heirs of deceased borrowers with unpaid loan balances after application of the proceeds of the Mortgage/Sales Redemption Insurance.”)of your article above “Who Can and Can’t Loan Under Home Loan Restructuring Program” means. I thought that if a Pag-ibig member with a housing loan dies, the property becomes the property of whoever the member’s beneficiary is, without any responsibility of paying the balance of the deceased member’s housing loan anymore. This is the reason why you are charging a certain amount (some sort of an insurance)so that in case the member with an existing housing loan balance dies, you at least recover a certain amount of the cost of the property. Looking forward to your response. Thanks!
hi admin, gd pm po, i would like to ask if i can still avail of housing loan loan reconstruction, naka pag avail na po kasi ako dati, is it possible pa po? as of the moment delinquent po ako by almost 7mos., or can i avail of the condonation? what shall i do po?
thanks and god bless…
@Sheryl:
The rule says you are not allowed anymore to restructure it for the second time. But you can try to negotiate with them about the price and maybe the extension of the payment.
@Oliver:
Yes, indeed you are right. But some older loans don’t have that kind of insurance imposed in the past.That’s the importance of the mortgage redemption insurance.
@joebert:
I think you should take care first about your delinquent payments. Please resolve it at the branch.
Hello admin thank you for your response (dated April 25). I understand that its possible for my wife to be the one to apply for our restructuring and condonation program. I just have a follow-up question. What documents should my wife bring when she applies for the same. Thank you once again for your assistance..
Hindi po ako nakaka receive ng monthly bills ko from pag-ibig simula ng magpa change address ako nung January 2012. I was out of the country so madalas yung kasambahay ko ang nagbabayad ng bill pero nung sabi nya wala daw bill hindi nya alam ang gagawin paano magbayad. Then nung umuwi ako last month, nagulat ako last week nung nakareceive ako ng last and final warning to settle my account dahil default na daw. My question is…
1. Pag binayaran ko buo yung past due ko, hindi na ba maco considered default ang account ko?
good afternoon admin ask lng po ako pag mag avail tayong redemption sa housing loan ano po ang computation nya?i hope mabigyan nu po ako ng guide kng paano..2004 pa po kc ndi nagbayad ang may ari 2,800 ang mo. amortization tapos gusto nmin aplayan, yon kc ang advice ng 1 of your staff sa pag ibig natatakot po kmi bka super laki ang amount..salamat po..more power..
@Bong:
It depends on the reason of the restructuring. But basically, the staff there will have to
check on your records and the status of the mortgage. Your wife will be advised from there on how to proceed next.
Please let her visit the branch as soon as possible.
@lyn:
Sorry, but I’m just confused here. You said you didn’t receive the bill due to change of address. And recently you receive a letter to settle your account. How come?
Anyway, please visit the branch immediate to settle on your account and save it from further complications.
As to your question, yes, you can pay it in full anytime.
@vic:
Please request for the computation at the office.
To Admin: 6 mos. na po ako di nakakahulog due to financial constraints, puwede ko po ba ipa-reconstruct ang loan ko and at the same time lower the monthly amortization? thank you.
Yes admin hindi ako nakakareceive ng monthly billing statement. ang na receive ko lang ay yung Demand Letter indicating unpaid bills. Pero yung katulad ng nakikita sa online na monthly billing na dapat dumadating every month, wala. Nagtataka nga din ako so inisip ko dahil kaka change address ko lang kaya baka wala pa.
@joelg3:
Yes, please proceed to the branch where you got the home loan.
@lyn:
Please visit the branch to settle the problem. And if you can, please bring some payments for the overdue bills.
i will apply for housing loan restructuring and penalty condonation program..how much is my initial payment?
gud day po baka pwede nyo ako matulungan ma aprub ung request ko,ala napo akowork mag housing housing loan restrusturing po pwede po ba sa asawa ko na requrements ang ibigay ko,pls sana po matulungan nyo ako para po wala napo kami problema at makapastart na kami na monthly..sana po matulungan nyo ako
@maryann:
There’s no initial fee whatsoever, but please refer your case at the branch.
@rowena:
The staff there at the branch has the final decision on your account. Please coordinate with them.
Hello po, IM EDISON from sta mesa, at dito po ako nagtatrabaho sa manila for 15 years, gusto ko sanang i LOAN or ISANLA Sa PAGIBIG ung LUPA ko sa ilocos norte with area of 875 sq. mts. Pag ma i LOAN KO na, may ibinebenta na Lupa dito rin sa Sta mesa yon na rin po ang pagagamitin k0 pambayad sa lupa. okey ba itong paraan po na pag loan? THANKS and more POWER. WAITING FOR YOUR REPLY.
Admin may nabasa po ako na kapag hindi ganon kalaki ang past due mo pwede daw na makipag usap na lang paano ang settlement since madami pa daw kasing documents na kailangan pag nag file ka ng condonation. is it true? 3 mos lang po ang kulang ko nung biglang nawalan ng work ang asawa ko and now na nakakabawi na kami gusto ko unti unti bayaran ang 3 buwan. at pwede po ba kahit hindi sa main office pumunta?
@Edison:
First, Pag-IBIG Housing Loan is not meant for that kind of loan. Please read this article to know the details:
https://www.pagibigfinancing.com/articles/2010/pag-ibig-housing-loan-101/
@gemma:
It’s true for some branches. Yes, if you can negotiate that kind of arrangement, please do so.
Magandang araw po! I’m a member of PAGIBIG since 1985, had my housing loan approved and paying my monthly amortization since June 2001, interest rate applied to my housing loan is at 16% per annum. Is there anything that I can do to re-process my loan to be able to avail of the current lower interest rates for housing loan? My loan was processed using the old high interest rates. My loan amount is below Php400,000.00, with current balance of approx. Php354,000.00 after so far paying 11-years (132 monthly amortizations). Is loan restructuring an option that i can take? I heard that with loan restructuring I can avail interest rate of 6% per annum for loan amount below Php400,000.oo. I hope you can help old-time & long-time contributing members of PAGIBIG (like me) who are too much burdened by the old high interest rates for housing loan. Hope to hear from you. More Power! GOD bless…
good afternoon,
pede po ba malaman ang procedure ng pagpapa-lengthen ng pagbabayad ng aming monthly hulog sa pag-ibig,,,instead na 10 years to pay po gs2 lang po namin na gawing 20 years to pay, pano po ba ang procedure since nag-issue po kami ng SPA sa hipag ko para xa ang magasikaso ng pagbabayad sa kinuha naming bahay, sana po ay malinawan namin ito upang makagawa kami agad ng paraan, salamat po, gary
Hi Edgardo,
It’s called restructuring and the procedure is already outlined above. Better still, you can have your representative go to the branch where you got the loan. They will have to check on your loan details first and apply the appropriate restructuring process specific to your case.
Hi, i am an ofw. I left my company in Philippines last June2011 and started working as ofw. the problem is, hindi ko na po naipagpatuloy yung contribution ko sa pag-ibig since june 2011. im planning to pay again the contribution this month this time po is for ofw na. yung before kasi na contribution ko eh sa previous company ko sa pinas. 1 year po ako sa first company ko then 3 years sa 2nd company ko. ask ko lang po kung kapag naipagpatuloy ko this month yung paghuhulog ko sa pagibig pwede na po ba ako magloan? since meron naman po ako 4 years na contribution before. ask ko lang din po kung anong type ng loan ang kukunin ko kung sakali magpagawa po ako ng house sa lote namin. yun po kasi balak ko papatayo po ng house pero yung lot sa amin po. ano po kaya iba pa requirements sa loan na yun kung sakali?sana po matulungan nyo ako… salamat po
dR,
Yes, you can pay for 24 months and then apply for a home loan. But, make sure that you consolidate all your past contribution AND simply reactivate your old members. Don’t make the mistake of applying for the POP membership.
In your case, that would be under the House Construction.
d2 po ako nag work sa abudhabi…nabigyan po kami nang lupa nang magulang nang mapapangasawa ko from province dyan sa pilipinas…kaya nangutang po ako d2 sa financing institution nang 500 thousand at kasalukuyang itinatayo na ang bahay namin… since naubusan na po kami nang fund pwede po ba ako makahiram sa PAG IBIG para mapatapos ko ang bahay? or pwede po ba ako manghiram nang pera para bayaran ang utang ko d2 para sa PAG IBIG na lang ako maghuhulog,since mas affordable ang monthly payment at di malaki ang tubo…
Hi Rhoneil,
You can apply for a multi-purpose loan, but I don’t think you can get as high as 500K.
hi admin! ask co lng poh kng ano po dpat gwin pgttransfer ng bhay?bcoz d developer said 60k dw po mgagastos s pgttransfer.is dat ryt? i’ve paid d monthly amort. for almost 3 years,but i have arrears 3 months.have any option to settle my arrears?does restructure can help me o settle it before i sell it?thanks
Denilen,
Please coordinate that one with your developer or home seller.
Hello Admin,
If I may ask, I was a former Pag-IBIG member for more than ten years and I stopped my contribution when I migrated to Canada. Its been almost 5 years now living in Canada as a canadian citizen which I acquired few months ago. My question is, am I still allowed to continue my membership with the Pag-IBIG as a canadian citizen? If not, what will be the requirements? Please advise. Thanks.
Francis,
Please consider asking yourself why would you still want to become a member of Pag-IBIG? If it is just to avail of the housing loan, you are making it very complicated on your part. There are better alternatives and much simpler ones.
Thanks, for the advise. The reason I ask this is because when the time comes I retired and decided to go back in the Philippines. Thanks anyway.
Hi! pwede po ba magapply ang husband ko ng housing loan reconstructure almost 3 yrs ng hindi nakapag bayad ng mo amort. Is it possible na itransfer na lang sa name ko para ako na lang magbayad ng mo aMORT THANKS!
Hi Kat,
Yes, he can apply for a loan restructuring. Please ask him to visit the branch immediately.
Good evening.
I would like to inquire if my father can still avail of restructuring program of Pag-ibig. He took out a housing loan in January of 2010; however, he defaulted in paying the February 2011 amortization and onwards. Now, he wants to continue the loan payments. he wants to avail of the restructuring program. what should we do? i would appreciate any feedback on this. Thank you.
Hi Brenda,
Please ask him to visit the branch immediately and ask for a computation there.
Gudeve…may bahay po ako sa laguna na lubog sa baha til now….ano po ba ang maipapayo nyo sa ganitong sitwasyon….its a 20 yr contract….naka 6 years na po kami sa pagbabayad….ano po ba ang dacion en pago?
ivy,
dacion en pago means you give up on the mortgage and surrender the property to the Pag-IBIG Fund.
hi, my husband sold the rights of our house and lot from PAG IBIG with deed of sale for assumption of mortgage. Unfortunately we found out by checking at pag-ibig recently that the new owner (rights ) did not pay for 5 yrs already (they only pay in their 1st 4 years of stay ) and the house is in foreclosure process na. My question: what happen to my husbands BENEFITS? will it be affected? he is contributing monthly through salary deduction as a regular employee. What should we do? They are occupying the house and it seems they have no plans of paying anymore…just to stay their for free.
Hi Gagay,
If you did it right, your husband should be free from his original obligation already. The new buyer should be the one responsible for the mortgage.
Did you have a Deed of Assignment? I hope you did and also let Pag-IBIG have a copy. Here is a good article that discusses the importance of this document:
https://www.pagibigfinancing.com/articles/2012/how-to-assume-a-loan/
Hi,
Good Day!
ask ko lang po, if required po ba regular employee ka para ma qualify sa housing loan. since nag aaply po ako sa ibang company now. I-aprove padin ba nila loan ko, kahet na sa bagong company ako,’ requirements na po kasi kame sa housing loan namen’. baka pg nag CI sila, ibang company na pala ako. thanks
Melmar,
It might affect your loan application. But the first thing you need to do right now is to consolidate your past contributions with the newer contributions.
Hi,
Gaano po ba katagal ang Approval ng Pag ibig sa Housing Loan, bale ng pasa ako ng requirements sa Developer, and mag bayad ako ng equity for 18 months, kung after 18months pa before ma approved ng pag ibig yun loan, meaning pede ako mg apply to other companies,
thanks
ask ko lng po, i availed housing loan restructuring. Ung downpayment po na hinihingi nila ay hindi ko po kayang ibigay ng buo bale po umabot po ng 72K ang kailangan kong ibigay for down payment. Ang kaya ko lng ibigay ay 30k. Is there any way n pwede kong staggered payment? Seafarer po kasi ako this month ang alis ko ulit, so in this case pwede ko pong madadagdagan ang monthly amortization ko n 30K instead of 24, 400. Please advise po.
Thank you and God Bless
Dang,
Please coordinate with the staff at the branch where you applied for the loan re-structuring.
Sir i plan to apply house reconstruction loan pero hindi sa akin nakapangalan yung title ng house namin. Possible po kaya yun? If ever magissue ng power of attorney yung nakapangalan sa title sa akin makakapagloan kaya ako? Thanks
I am currently paying 14k+ per month on the 4th year of 15 year loan. Can I restructure my loan in such a way that I would only need to pay less than 5k per month? Aside from lengthening the loan term, is balloon payment also an option?
Paulo,
Not anymore.
Hello Admin,
What do you mean not anymore? Kindly explain further.
Thank you in advance.
Paulo,
If the 14k per month is the scheduled amortization, Pag-IBIG won’t allow you to lower it unless you pay advance. It’s best to visit your branch.
good day!
i want to inquire about loans for house renovation dapat po ba sa name ng member yun property n i renovate what are the requirements to be prepared ,plans from architects , what else ,,im OFW how can i get loan 600k php then how much will be monthly for 5 yrs …finally can we get it cash how the pgibig will deliver the loan in what forms about house renovation kindly help me to enlighten up.. pls .. email me for reply..
thanks a lot !
good day po!
tanong ko lang po kung wala nang pag asa ma save pag naka receive na ng notice of cancellation of CTS, 10 months pa lang po ako di nagbabayad… kakapunta ko lang sa pag-ibig para mag avail ng loan restructure at at mababayaran ko na po yung 20% which is 20k kaso naka receive naman ako ng notice of cancellation
hi po,,,ask ko lang sana..we are having housing loan in a reputable developer.so far wala pa naman pong approval from pagibig coz the construction is still ongoing..just in case po na maapprove we are planning po sana to fully fursnished it (with interior design) since bare units lang ung offer na house and lot bago kami magtransfer.is it possible po to take another loan for this purpose pwede po ba dito yung loan for house improvement?kahit hindi pa po namin natatapos or even months pa lang namin binabayaran young house and lot loan namin?thank you for your advice…
i mean housing loan from pagibig thru a developer…sorry po
magandang araw po!,
isa po akong OFW (seaman) meron po akong housing loan sa di inaasahang pagkakataon meron po akong 6 na buwang arrears pero buwan buwan po nagbabayad po ako subalit hindi ko po makayang mag update sa kadahilanang meron po akong anak na nag aaral isang 3rd yr & 2nd year college, at 4th yr. high school po, at napakabigat po ng aming buwanang gastusin, pero sinisikap ko po na mabayaran buwan buwan ang aking housing loan, ngayon araw po january 8, 2013 ay ayaw na pong tangapin ang binabayad ko para sa buwan ng July 2012, ang sabi po nila ang magagawa ko na lamang paraan ay bayaran ng buo ang 6 na buwang kulang ko, pero wala po akong ganong kalaking halaga, ano po ba ang dapat kong gawin sa abril pa po ako makakauwi ng pilipinas, ayoko naman pong mawala ng ganun na lamang aking pinagsususmikapang ipundar bilang isang OFW, wala naman po kaming matitirhan kung kami’y papa-alisin..ano po ba ang pwede kong gawin para maisalba ang aking hosing loan, sana po ay mapagpayuhan ninyo ako sa lalong madaling panahon dahil akin pong inaalala ang pamilya ko sa pilipinas, maraming salamat po.
I want to ask if how many times can I re-construct/re-structure the term of my housing loan?
Am I allowed just once or more than that?
For example, I want to shorten my term from 10 years to 5 years?
Then time came that I want to extend my term from 5 years to 15 years?
Is that allowed
What are the procedures/steps?
Hi Admin,
Gusto ko po sanang i-convert ang garahe namin na paupahang bahay. Pwede po ba akong magloan sa Pag-ibig with this in mind? If yes, housing loan po ba or home improvement ang pwede kong i-loan? Thanks po! 🙂
I got a house from NSJB. 5 years to pay the equity for P7k each month with NSJB and 30 years to pay P10K with pag ibig (loaned 1M). I missed paying 24 months both for NSJB and Pag ibig. I just read about the condonation now and missed it. (1) When will the next condonation be? (2) If I apply for loan restructing, can I also borrow P200K from pag ibig to pay off NSJB so i can use the house now and have it rented to help me pay for the loan from pag ibig?
Hi Admin,
I am an OFW and I’m going to take a pag-ibig housing loan this year (under construction na po ang unit) where payment terms i want to choose will be 30 Years. If I can settle the payment within 3 to 4 years, will I get a restructred interest (rebate) based only in 3-4 years interest plus the principal amount borrowed?
Thanks!
Hi Admin,
May property kami na mortgared sa pag ibig na naging delinquent for 3 years na, pwede pa ba namin eto marequest for restructure? iniwan kc namin eto pansamantala for personal reasons and then babalikan na namin para tirhan. Thanks!
hi po,
ask ko lang po, 9 months na po kami delinquent sa mo. amortization, the house is under my name, wala po ako work ngayon, husband ko lang po ang may work, pwede po ba kami mag apply sa home loan restructuring program? 30 years to pay po ang house namin, nakaka 6 years na po kami sa pagbabayad.
thanks po
hello po pwede po ba magtanong kung pwede mag loansa pag renovate nang bahay?…anu po ang requirements