Housing loan cancellation

Hello po,

Sana matulungan nyo po ako, nung 2014 kumuha ako ng housing loan at patapos n po ngyn oct 2017 yung downpayment at biglang nagkaroon kmi ng financial problem at hindi ko na po kayang tapusin yung downpayment.
Ang tanong ko po entitled po ba ako s refund kht 50% under Maceda law kahit nakalagay sa contrata na pinirmahan ko ay " should i fail to pay any installments on the above downpayment on its due date for any reason whatsoever (including voluntary withdrawal) this reservation shall be automatically cancelled and the amounts paid shall be considered forfieted as liquidated damages."

Sana po matulungan nyo ako dito..
Thanks in advance

I think Maceda Law is not applicable to you because you have availed housing loan to pay for the property (you are not considered as installment buyer).

Read the article of Lamudi.PH about Maceda Law.

Try using this search tag "Eight Things You Need to Know about the Maceda Law" when googling.