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Forclosure

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1 Forclosure on Tue Feb 28, 2012 5:38 pm

zykha57


Arresto Menor
If you make a housing loan to Pag-Ibig and you have paid almost 2 years of your loan and after 3 mos of delay you are given a notice that your property has been foreclosed. What happened to your loan balance? Are you required to still pay the said loan?

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2 Re: Forclosure on Fri Mar 02, 2012 6:11 pm

TiagoMontiero


Prision Correccional
You should have contacted Pag-ibig for a grace period, anyway, if the property is already sold via public auction, you have 1 year to redeem it.

All your loan payments will be forfeited in favor of pag-ibig if the Bid Price is lower than the entire loan. IF, the bid price for your property is higher than your loan, then, the excess will be turned over to you.

you don't need to pay your amortization, BUT you need to come up with the entire amount of your loan within 1 year, if you want to recover your property.

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3 Re: Forclosure on Thu Feb 20, 2014 10:34 pm

dexter213


Arresto Menor
How long is grace period if they settle the amount

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4 Re: Forclosure Today at 4:00 pm

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