BREACH OF CONTRACT OF DEED OF SALE

Dear Lawyers:

I acquired a house & lot unit thru Housing Loan from PAG-IBIG sometime in 2002. Immediately after the award of the unit, I sell the unit for 25,000 with corresponding Deed of Sale, Affidavit of Waiver, and Special Power of Atty. documents which I executed in favor of the buyer. The contract of sale between me and the buyer is not recognized & registered by the PAG-IBIG Fund. It is still my account that's being used for the mortgage. The buyer is aware of the mortgage of the property before the PAG-IBIG Fund. The buyer religiously paid the monthly amortization of the loan until the later part of last year - until I received several notices/demand letter from PAG-IBIG. It is now 8 months in arrears. The buyer is nowhere to be found. He doesn't answer my calls. My question is: What will I do in order to protect my interest in PAG-IBIG Fund so that I can protect my account? Because if I wont be able to pay the arrears, and the property eventually be foreclosed, the PAG-IBIG Fund will forfeit my monthly contributions (TAV) in lieu of the unpaid monthly amortizations.
Will i pay the monthly amortization? If i pay the monthly amortization, can i recover from the buyer for reimbursement?, Or can i recover my property again because he's in default already?

Did you execute a Deed of Absolute Sale or a Deed of Conditional Sale? What are the terms and conditions of the Deed?

If it is an Absolute Sale, you have in effect transferred ownership to the buyer. His failure to pay the monthly amortization will be to his detriment because the property that he bought will be eventually foreclosed by Pag-ibig. But since the loan is still in your name, you can probably recover from the buyer the amount deducted from your TAV if and when Pag-ibig decides to do so.

If it is a Conditional Sale, I suppose that one of the conditions therein is that the buyer will pay the monthly amortizations until full payment of the loan. In such case, you can definitely rescind/cancel the sale for failure of the buyer to comply with his obligation. Since the loan is still in your name, it is in your best interest if you will continue to pay the monthly amortization.

You can verify with Pag-ibig if they have a program for the waiver of penalties before you assume payment of the amortization.

i think this is an absolute deed of sale and in fact, as i have stated, i also executed an affidavit of waiver.