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Conversion of Contract-to-Sell to Real Estate Mortgage

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Arresto Menor
Hello po!

Nag loan po ako ng bahay. After po ma-take out ng pag-ibig, i issued 24 postdated checks sa developer dahil yung 1st 2 years daw eh sa kanila muna magbabayad. Hindi pa nagla-lapse yung 2 years, last month eh naka receive ng SOA from Pag-Ibig sa bahay na halos 2 months ang kulang na hulog ng developer. Tapos yesterday, may dumating na letter saying na qualified na daw yung acct ko sa Pag-Ibi for conversion from CTS to REM. Hindi ko po alam para saan iyon, pero nag search2 ako ang sabi for delinquent borrowers daw. Pwede nyo po ba akong tulungan maintindihan yun? Tama po ba nabasa ko at hinala na di nakakapag hulog yung developer? Yung status naman ng checks eh lagi nilang nakukuha on time yung mga checke. On time naman din po ako mag pondo ng mga checke ko. Ano po bang dapat ko gawin?

Thanks po!

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why not talk to pag-ibig? but i believe that there is nothing wrong. from CTS to REM means pag-ibig will pay the developer in full, the title transferred to your name and the mortgage annotated.

as for the 24 checks, that might be your equity and separate from the pagibig loan. read your contract.

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