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Redemtion Period and Litigation Fee after forclosure

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Arresto Menor
Good day po. I called PAGIBIG office yesterday. I have a defaulted amortization of 13 months. From Feb 2011- March 2012. The attendant asked me to pay atleast 11 months of my account to update so they can not endorse my account by June for foreclosure. I was aware of the 1 year redemption period they give to the borrowers. I told her that I can only give atleast 3 months payment before June this year. She told me that there was no assurance for that, and if it will be endorse for foreclosure, I can still redeem the house and pay for my defaulted amortization plus the litigation fee. By the way, I talk about this to my husband, we agreed to continue paying every month.. Prioritize the monthly payment kahit endorse na for forclosure but within that 1 year given period for redemption we promise to redeem the house sooner. Is this okay po bah? Ang sabi kasi nang office I will not be granted restructuring kasi di naman ako yung orginal borrower. I just assume the house.

My question is how much po bah usually is the litigation fee? and what's the process on redeeming the house?

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i would not recommend giving the monthly if pag-ibig does not agree in writing to hold off the foreclosure. litigation costs is about 20% of the entire balance.

try to work out a deal to give 3 months worth now, and 2 months worth monthly until you are up to date.

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