Pag-ibig Housing Loan

[Mike Cortez]

What is the penalty if you give up an approved housing loan from Pag-ibig?

[joma_s]

What is the penalty if you give up an approved housing loan from Pag-ibig?

A housing loan involved a valid land title (if its the case of you building a house). That land and any development on it will be your collateral for securing a loan from Pagibig. If you give up, then they will confiscate and sell the property take their parts (including profits and legal expenses) and return anything over to you (if there is).

[Mike Cortez]

So they will take my property then what happens to me? Am I going to end up in jail eating malunggay?

[joma_s]

So they will take my property then what happens to me? Am I going to end up in jail eating malunggay?

no to jail, but you will end up without the collateralled property (which, at the time of loan is PAGIBIG's legal property). they will sell it to recover their investment.

Pag-ibig will do everything not to 'confiscate' but will suggest ways on how you can recover like asking a relative to pay for it or having YOU sell it so that your losses will be few.

[Mike Cortez]

Ah okay. Hey, thanks for the info.

[pgma]

what is the maximum amount does Pagibig lend to its members?
is it based on contribution or the value of property you are using as collateral?

[joma_s]

what is the maximum amount does Pagibig lend to its members?
is it based on contribution or the value of property you are using as collateral?

Sa POP (Pagibig Overseas Program) ang membership (contributions) is your KEY to qualify for a loan. That means even if you have high value property, hinde ka makaka-loan. They would ask you to be a member first by completing a minimum contribution.

When applying for a loan, Pag-ibig will study your requirement (cost of your project house). Based on that, along with your combined (earning of you and wife and business too) capacity to pay, considering your expenses (children in school, car loan, etc), they will decide your maximum amount to lend.

[joma_s]

http://www.pagibigfund.gov.ph/benefi...%20Program.pdf

please read the accurate guideline sa link na ito

4. LOAN AMOUNT
A qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Three Million Pesos (P3,000,000.00), which shall be based on the lowest of the following: the member’s actual need, his loan entitlement and the loanto-collateral ratio.

[Mike Cortez]

Joma budy, the reason why I asked you about the loan is because someone went in my unit. Buti na lang I don't live there so walang masyadong gamit except for the furnished items na kasama. The refrigerator which was given to me, pinalitan din ng non working one. I reported na din sa police then gave the docs to the admin and they promised na aayusin nila. Mukha namang puro run arounds lang. Im thinking parang hindi na safe dun. I wonder if this is enough grounds na pumayag ang pagibig to cancel my loan.

[Phil1229]

Im currently working abroad as OFW......ask lang po ako kung anung po bang proseso kung gusto ko ng bitawan yung unit ko... 5 years active payee po ako ng pag ibig at updated po yung amortization ko... ang tanung ko po:

1. Pwede ko po bang bitawan na yung current unit ko na 5 years ko ng binayaran ang amortization? Anu po dapat gawin?

2. May mababawi po ba ako sa mga naihulog ko sa loob ng limang taon?

3. Saan po ba ako pwedeng lumapit? Sino po bang responsible person sa ahensya nila? Anu po mga requirements?

Actually po, kaya gusto kong bitawan yung unit ko kase gusto kong mag upgrade ng unit at lumipat ng ibang lugar. nag inquire po ako sa bago kung agent pero suggestion nila ibenta ko nalang daw kung may sasambot.. since wala naman sumasambot... my nag suggest naman saken na i surrender ko nalang daw sa pag ibig....san po matulungan nyo ko....thank you