Pina-assume balance of a Pagibig housing loan

Good day po mga Sirs ant Maam. Nagbabakasakali lang po ako baka may maprovide kayo advice to put us in the best direction.

Ang nangyari po kumuha kami ng bahay from "Fiesta Communities" dinaan sa pagibig housing loan. nakabayad po kami ng 1 year after that nabuntis kasi si misis. at that time may financial crisis kaya we decided to sell the house at ipa assume ang balance. up to date po kami magbayad kaya wala po arrears kumbaga malinis ang record ng i sell namin.

smooth naman po transaction with the help of a Fiesta community manager ngsign ng documents na sinasabi binebenta ko for assume balance yung bahay. ok po up to that point.

After 2 years more or less po eto nagpadala na ng sulat si pagibig di sila nagbayad. di rin nila inasikaso yung change name sa title. supposed to be may 1 year pa sila para asikasuhin yun after nila i assume yung balance sa amin pero wala sila ginawa.  

ngayon po nasa LAST CHANCE na yung sulat ng lawyer ng Pagibig. pahirapan po sila kausapin. nasa kanila na po lahat ng documents ng bahay.

In need lang po ng legal advice, common citizen lang po.

Maraming salamat po.

Didn't you INFORM Pag-Ibig, they AGREED and the LOAN was transfered to the buyer?
If that was done, then no problem for you except perhaps you need to spend some TIME by you are on the title.

(You still being on the TITLE can PERHAPS even be an advantage for you (=Asuming the LOAN is transfered, Pag-Ibig will demand money from THEM. If they don't pay,, the property will be Foreclosed. Then PERHAPS YOU get the chance to buy it back within a year by you are at the title.)

BUT I don't know if you risk to be demanded to pay the PROPERTY TAX. Tell the municipaly/barangay office you aren't owner anymore and bring the transfer documents.

Hi, ako nman I am planning to buy a housing, iaassume dn nmen ung balanceoverdue. Im worried n bka d matransfer ung bahaybahay after nmen ma fully paidfurnished. Anu po ba dpt, gawin pra before nmen assume ungthat balance, makasiguro kme nang amen n tlg un,.

missy0818 wrote:Hi, ako nman I am planning to buy a housing, iaassume dn nmen ung balanceoverdue. Im worried n bka d matransfer ung bahaybahay after nmen ma fully paidfurnished. Anu po ba dpt, gawin pra before nmen assume ungthat balance, makasiguro kme nang amen n tlg un,.

Is the title transfered from the developer yet?

A safe way to transfer titles (beside the documents):
/Payment is PREPARED but NOT transfered yet. (Except perhaps a downpayment).
/Loan transfer is PREPARED but NOT transfered yet.
/The bank do the transfer and move the loan to the new owner WHEN the title is transfered to the new owner.

Hello,

Did you keep a copy of the documents for yourself?

1. Go to Pag-IBIG. Find out exactly what happened. Pag-IBIG will not wait for 2 years before informing you that payments were not made.

2. The transfer of title will not happen if there are arrears on the loan.

3. If documents were not submitted to Pag-IBIG at all, it would mean that should your account be sent to foreclosure, you will be blacklisted and would not be able to take another housing loan. That would truly be unfortunate.

Find out who was negligent and you can check what your options are from there.

EphraimT wrote:Good day po mga Sirs ant Maam. Nagbabakasakali lang po ako baka may maprovide kayo advice to put us in the best direction.

Ang nangyari po kumuha kami ng bahay from "Fiesta Communities" dinaan sa pagibig housing loan. nakabayad po kami ng 1 year after that nabuntis kasi si misis. at that time may financial crisis kaya we decided to sell the house at ipa assume ang balance. up to date po kami magbayad kaya wala po arrears kumbaga malinis ang record ng i sell namin.

smooth naman po transaction with the help of a Fiesta community manager ngsign ng documents na sinasabi binebenta ko for assume balance yung bahay. ok po up to that point.

After 2 years more or less po eto nagpadala na ng sulat si pagibig di sila nagbayad. di rin nila inasikaso yung change name sa title. supposed to be may 1 year pa sila para asikasuhin yun after nila i assume yung balance sa amin pero wala sila ginawa.  

ngayon po nasa LAST CHANCE na yung sulat ng lawyer ng Pagibig. pahirapan po sila kausapin. nasa kanila na po lahat ng documents ng bahay.

In need lang po ng legal advice, common citizen lang po.

Maraming salamat po.

Is that under Pag-IBIG?

When you get a house and it's only an assumption of mortgage, the title is still under the name of the original owner, to be kept by Pag-IBIG until the loan period has ended. Pag-IBIG will not transfer it to your name. When the loan is paid up, Pag-IBIG will release the title to you, together with all the pertinent documents (cancellation of mortgage, Deed of Sale etc). You yourself will be responsible for the title transfer when that time comes.

missy0818 wrote:Hi, ako nman I am planning to buy a housing, iaassume dn nmen ung balanceoverdue. Im worried n bka d matransfer ung bahaybahay after nmen ma fully paidfurnished. Anu po ba dpt, gawin pra before nmen assume ungthat balance, makasiguro kme nang amen n tlg un,.