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PagIbig Loan and Section 7 Issue

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1 PagIbig Loan and Section 7 Issue on Wed Mar 07, 2012 1:12 pm


Arresto Menor
Ask ko lang po regarding sa pagibig loan... nagtanong po kasi ako dati sa kanila regarding sa loan and sabi po nila di daw po nila tinatanggap yung title na may Section 7 annotation, kailangan muna daw ipacancel/remove yung section 7 bago daw nila iprocess yung loan.

Bale may bibilhin po akong lot sa QC and vinerify ko na po sa RD yung title, clean naman po sya and walang encumbrances, except sa Section 7 na nakalagay sa 2nd page. And if ever na binili ko cash yung property and pinalipat ko na sa name ko, andun pa din daw yung Section 7 annotation.

After ko kasi bilhin yung lot, iloloan ko siya ng Home Construction Loan sa pagibig, maproprocess kaya iyon or tatanggapin nila kaya yun kung may Section 7 pa din nakalagay, kahit na nasa pangalan ko na?

Ang explanation kasi sa akin regarding sa Section7, di naman daw kailangan ipatanggal dahil proof daw yun just to show the title is reconstituted title dahil the original was lost, burn or destroyed. Wala naman daw effect sa new ownership.

Ang tanong ko lang po bakit ayaw tanggapin ng pagibig yung Section 7 if wala naman effect.

Sana po matulungan nyo ako. Salamat.

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2 Re: PagIbig Loan and Section 7 Issue on Sun Mar 11, 2012 10:29 am


because it is not true that sec. 7 has no effect. just process its removal then the pag-ibig will accept it.

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