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Dear Atty,
We have granted a pagibig house loan in 1997. Total property cost P432 but we made an initial payment so our balance is 272K with a montly installment of P4.1K. Unfortunately, due to financial problem this has been reconstructed for P323K because of default payment of 6 months but our monthly remains the same at P4.1K. However, our financial problem persists until we can no longer paying for almost 8 years and when we went to Pag-ibig, the personnel say, the property was already foreclosed and elevated to court. Total cost of the property now is P872K.
We have learned about the foreclosure when, somebody came to our place and check the house, which prompted us to go to pagibig.
Please advise us atty,
1. why we are not receiving news regarding the property.
2. When are they going to serve the ejectment? with your expertise, how many more months, years do we have to stay in the house?
3. Is there a possibility to reacquire the property when the verdict to sale is already out.
4. At what cost? Originally, property was 25 years to pay, loaned at 272K and pay for 9 years amortization. It ballooned to P875K due to penalties.
Your advise is really needed. We need to prepare because of my children, specially my autistic one which is already attached in the house.
Thank you and God Bless,
Lyds
We have granted a pagibig house loan in 1997. Total property cost P432 but we made an initial payment so our balance is 272K with a montly installment of P4.1K. Unfortunately, due to financial problem this has been reconstructed for P323K because of default payment of 6 months but our monthly remains the same at P4.1K. However, our financial problem persists until we can no longer paying for almost 8 years and when we went to Pag-ibig, the personnel say, the property was already foreclosed and elevated to court. Total cost of the property now is P872K.
We have learned about the foreclosure when, somebody came to our place and check the house, which prompted us to go to pagibig.
Please advise us atty,
1. why we are not receiving news regarding the property.
2. When are they going to serve the ejectment? with your expertise, how many more months, years do we have to stay in the house?
3. Is there a possibility to reacquire the property when the verdict to sale is already out.
4. At what cost? Originally, property was 25 years to pay, loaned at 272K and pay for 9 years amortization. It ballooned to P875K due to penalties.
Your advise is really needed. We need to prepare because of my children, specially my autistic one which is already attached in the house.
Thank you and God Bless,
Lyds
