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50% Refund under Maceda Law

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1 50% Refund under Maceda Law on Tue Mar 20, 2018 4:49 pm

shalalah


Arresto Menor
We had been paying pre selling condo for 3yrs & 8 mos for the total amount of Php 253,833.48. And we had suddenly back out because they refuse us to take a housing loan thru Pag Ibig. We have told that we can only have the 50% refund. However, the figures that the developer's Atty showed us is less than 50%? We had never been defaulted nor penalized? Please advise if we can still fight for the 50% with no deductions thru HLURB?

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2 Re: 50% Refund under Maceda Law on Tue Mar 20, 2018 9:53 pm

attyLLL


moderator
There is no law requiring a developer to accept a Pag-ibig loan unless they committed to it prior. What I recommend is you find some way to continue your payments or find another way to pay the contract price.


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3 Same case - Maceda Law (Refund) on Tue Apr 03, 2018 6:14 pm

Seeker18


Arresto Menor
Any update po on your case? I have the same situation now with my developer.

I have paid more than 5 yrs already.
Developer is offering only half of the 50%.
Deal or no Deal daw. Kesyo may deductions raw. marketing, operating expenses etc pati house depreciation sinama pa.

I went to HLURB. They verified na entitled ako sa 50% refund ng total payments plus 5% for each year after the first 5 yrs of payment.

They told me to file a complaint. After a month, a meeting will be set with the developer. Sa complaint ko I asked them to justify their computation. Kase pulos verbal lng si developer eh. Sa meeting, HLURB will act as the court, they will mediate daw for me and developer. Im expecting by end of April pa ang 1st meeting.

So far, eto pa lng ang hakbang ko towards getting my refund under Maceda Law. Im interested to know kung meron na bang nabigyan ng refund ng FULL 50% with the help of HLURB.

Thank you and good luck po sa atin with the same concern.

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4 Re: 50% Refund under Maceda Law on Wed Apr 04, 2018 5:30 pm

attyLLL


moderator
you should get the full 50%. their internal policies cannot supersede what RA 6552


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