GSIS sells foreclosed housing units by offering 6% fixed interest rates but…

sir, i emailed you something, kindly reply back..thanks

hi betty, replied already through e-mail. =)

Hello Jay,

Very good article, Thanks for posting I had already downloaded the GSIS list in Excel thereby easier to sort by price or lot area. Thanks.

Nolor98

Hi Noli, you’re welcome and thanks a lot for dropping by!

hi hello,
happened to come across this site. I want to comment it about buying a house from the GSIS.
I got bad experienced. I have written to the Ebdane of GSIS and he answered my mail.
It is a long story.I wanted to buy a lot in Victoria Country Homes. It is a house adjacent to my existing house in this area. Wow the almost damage house has cost at first 217.000 pesos which i was willing to pay cash but was told that they could not sell it they are waiting for clearance etc. Ok I waited. I checked the prize in internet again. The prize was changed to 317.000 pesos (100sg, house no doors no windows , just four walls, roof rusty, ceiling falling off). and that increase after 3 months. Ok I was interested to buy it as i thought i needed it. I went to GSIS office Dipolog. Wow! The price has increased to 446.000 pesos!!! I sit down and wait forthe explanation. I was told it is because of the former owner. How come? The chief of the section went down and when she came back she told me it is really for 606,000 pesos!!! This is GSIS! I said no i wont buy. They can keep all those damage houses. GSIS said:GSIS sells foreclosed housing units by offering low interest???? I thought of writing again to Ebdane but I thought my email will be endorsed again to the local office. GSIS will be sitting on their dead investment.
Now they removed the list of Zamboanga del Norte from their listing.

Im just wondering what makes them overpriced the houses so much? By the way instead of buying the house i wanted i bought another house for my niece just 20 meters from that house in question, the house has improvement and costed only 263,000 pesos!!!

Hi junglerose, thanks for sharing your experience. I hope this really serves as a heads-up to those who are looking at GSIS properties. This makes me feel so frustrated as this program could really help a lot of people but instead this happens. I’m just glad that you were able to buy a house from your niece instead, and at a great price!

If there are other people out there who have had similar experiences, please do share so we can increase people’s awareness and maybe get the attention of the concerned people who can stop this. Thanks.

Thanks for the valuable information.

hi sir. ung mga unoccupied lang ba ang pwede bilhin? kasi may kakilala ako, occupied na ang nakalagay sa ad. pero binili pa din nia. un nga lang napamahal sya ng konti lang naman,. i got to visit kasi ung mga nakalagay sa internet. pero ung mga un occupied, napag pilian na talag. meron nga tlgng pundasyon na lang ng bahay un natira. panu ba un sir. and bakit ung price ng house varies pero same lang nman na subdivision at same anf floor area? sana matulungan nio ako dahil puzzled ako ng konti e. thanks.

sir jay and one more thing. nagpunta na kasi ako sa isa sa mga subdivision na nakalagay sa internet. then may mga bahay dun na parang foreclosed na din (kasi wala na nakatira). pero ndi ko sya nakita sa posting ng gsis. ano po un , under negotiation pa na foreclosed xa? senxa po pero gusto ko lang kumuha tlg ng bahay na malaki. and before sana makapag investigate ako.

thanks

Hi Riza, minsan talaga previous owners cannibalize a property before leaving, kaya ayun, yung iba eh pundasyon na lang ang natitira. Kung bibilhin naman ang occupied, you just have to consider the additional cost, pati na rin yung tagal na hihintayin mo to wait for the previous owner to leave.

Dun naman sa iba iba ang presyo, depende rin siguro sa balance sa loan amount. Pag malaki pa ang balance, mas mahal ang presyo para marecover yung loan balance.

With regard sa mga bahay na parang foreclosed na pero wala sa list, baka naman hindi pa nag lapse ang redemption period kaya hindi pa sinasama sa listahan.

My mom and I planned to buy a foreclosed property in Moonwalk Subdivision in Las Pinas. Actually, we’re still hoping that the response from GSIS will be in favor of us.

The property was introduced to us by a friend and officemate who lived just in front of the property we want to purchase. But the same person told us about the schemes that GSIS employees are doing with these foreclosed properties. To answer a query above, kaya yung ibang property that are already vacant and seemed to be foreclosed ay hindi nakalista sa website ng GSIS is because may anomalya sa bentahan ng properties. Some GSIS employees, palibhasa’t may access sila sa list ng foreclosed properties, they tend to pick some properties that the want to purchase even before it is open to the public. Kaya kahit na wala ng nakatira sa mga bahay, eh wala pa rin sa listahan. Sindikato talaga. May insidente pa nga sa Moonwalk na may pinatay dahil dito. And the people there suspected that the said GSIS employee did the crime.

Kung iisipin, hindi lang ang pinuno ng GSIS ang may baho. Kundi pati mga taong nasa ibaba nito na kung tutuusin, sa atin lang din naman umaasa. May hanap buhay sila dahil sa compulsary na pagbabayad ng bawat pinoy sa GSIS na sinasabi nilang maaasahan. Kaya i suggest, better look for rent-to-own housing by private realtors.

Hi Corics,

Thanks for sharing, grabe naman yung insident na meron pang naging patayan. I would echo your suggestion na maghanap na lang ng ibang alternatives unless things like these are addressed by the GSIS.

Sayang talaga kasi mas maraming matutulungan SANA ang program na ito pero ganito ang nangyayari.

hi jay, please help.. i’m looking for a foreclosed property in cabanatuan city, nueva ecija.. preferably a house and lot or lot na pwedeng tayuan ng apartments. i can’t do it myself kasi i’m an ofw. please help.. thanks a lot. God bless..

Hi benj, as much as I would want to help, I would only be able to look this January, this is because of the unrealistic workload at the office which would only last until end of December 2009… hehe.

Hello, Jay! My mom used to work at GSIS-tacloban. Dahil wala na siya access sa said government agency kasi nag early retirement na, di ko na matanong what mga foreclosed properties sa Tacloban City na di kamahalan. Gusto ko na kasing magkabahay. Right now, I am still living with my parents sa V&G Subdivision po. Pls send me list ng foreclosed properties and also yung price na di po lalampas ng Php 500k and loanable po. Thanks.

Hi Mr. jay,
Happy New year!!
I’m looking for apartment that been foreclosed somewhere in cavite area, can you point me in right direction!

Thanks

hi sir!

My mother-in-law had a house in meycauayan, bulacan. It was also a GSIS property but they haven’t paid it yet. We want to pay it can u help us about process? And also I would like to buy a foreclosed house in sto niño meycauayan bulacan, I heard GSIS still have there. Kindly help me regarding my concern.

Thanks a lot!

Came across this agent while we were looking for a property, sa text we thought we’ll buy rights and then assume balance from GSIS. When we checked the property, it was foreclosed daw by GSIS sabi ng agent, ang appraisal is 900K, but I have to pay 300K muna. I asked if mababawas un sa 900K. Hindi daw, i’ll get acknowledgement receipt daw dun sa staff ng GSIS. Then pay the downpayment with all the requirements para sa housing loan. Grabe an dami siguro nila makikinabang dun s 300K namin. Called up GSIS today to ask ung foreclosed properties dun sa website nila, wala n araw available dun s area n un. Dec 2009 lang pinost lahat daw almost 50 properties un nde na available. Grabe, we were just hoping we can look for a property na mura and with good payment scheme to have a property of our own, dahil nde namin kaya cash out lahat. Lolokohin pa kami ng mga taga GSIS n yan. Kaya wala tayong asenso.

nakakatakot naman pala bumili ng foreclosed property sa GSIS. i was really planning to buy this year, already went to GSIS to confirm the availability, the guy there confirmed the available ones but based on the stories posted here parang dadaan ako sa butas ng karayom para makakuha ng property lalo na nasa abroad pa ko.

anyone here has a story that “all goes well without a hitch”?

Hi Sir,kelan po ba ilalagay sa website yung housing for sale ng 2010,kasi hinihintay ko pa sa website yung block 24lot 34 po sa lapidsvilee san rafael bulacan….salamat po

Hi Sir,kelan po ba ilalagay sa website yung housing for sale ng 2010,kasi hinihintay ko pa sa website yung listing foreclosed housing unit sa V ang G subd.Tacloban city

Hi Rosanna, first of all, sorry for the late reply. I was not able to see this comment of yours until now. Anyway, I just checked and the GSIS website has been revamped and the their new listings are hard to find pero I was still able to find it. I’ll post it in one of my next posts.

Hi Sonny, happy new year too! Sorry also for the late reply. I’ll be on the lookout for new listings with properties in cavite for you.

Hi Aneth, I suggest you first get the status of the house from GSIS and ask if it would be possible for you to assume the loan of your mother-in-law and what are the requirements.

As mentioned above, I will post the new listings from GSIS in an upcoming post. Please watch for it.

Hi Stephanie, grabe naman! I hope and pray na mawala na ang ganitong klaseng mga transaction. sayang talaga kung ganito lang ang mangyayari. yung list nila na bago more than 8 thousand properties ang nakalista, post ko in the following days.

hi Apol, just like you, gusto ko rin makarinig ng story na may happy ending naman…

Hi Bhel, hopefully andun na sa list yung hinahanap mo, inupdate ko na yung link sa post ko sa article ko, makikita mo dun yung bagong list. eto yung link papunta sa GSIS website: http://www.gsis.gov.ph/housing/default.php?type=root&id=128

Hi Marco, kagaya nung nasabi ko kay Bhel, may updated list sila sa website ng GSIS as of May 12, 2010: http://www.gsis.gov.ph/housing/default.php?type=root&id=128

Post ko rin dito asap. thanks!

SIR JAY,
Firstly thanks for the reply,sir pano po namin malalaman na yung pangalan ko ay naka pasok na sa inaplyan namin na unit,tulad ko po kasi nasa ibang bansa po ako at pinalakad ko lang po ang papers ko after po na ma completo ko mga requirement,sana po matulungan nyo po ako,sabi kasi ng taga lakad ng papel ko wait ko na lang daw yung sulat galing gsis for payment po,,,,thanks sir jay god bless

[...] I just hope this program delivers as promised without the hassles as described in my previous post about the GSIS along with comments from readers. The article can be found here: GSIS sells foreclosed housing units by offering 6% fixed interest rates but… [...]

Hi Jay,

My wife and I visited GSIS the other day. I asked the person in booth 16 about the foreclosed properties. He did not tell us specifics on which properties are available. He simply asked me the location of the properties I’m interested in. He said properties in metro manila are already taken. I said i am also interested in moonwalk properties. He said that most of those properties are still available. he told me to come back with at least 5 prospective properties and bring the downpayment and other requirements when I’m ready. So I said, ok… and cannot think of other things to ask, we left.

Then it occurred to me… i forgot to ask them if they would be able to hold the property in my favor if i pay the downpayment and processing fee. Since they cannot tell me which ones are still available, you will be left helpless once they announced to you that somebody else already secured the property.

It also occurred to me (although I’m not sure) that they are accepting many applicants for a single property and then they choose the one with the highest bid.. or if they have preference on the would-be buyers. but if they do it that way, and as I read on one of the posters who paid and lost his processing fee, then I think GSIS makes a lot of money out of these people who only want to avail of this so called low amortization housing.

Hi Onnie, thanks a lot for the feedback. I hope and pray that GSIS will somehow find a way so that they can handle their acquired assets and interested buyers much like how Pag-IBIG does it, systematic, less hassles to buyers, win-win for all parties.

I’m an interested buyer also, but based on what was written here, nakakatakot to take risk, at ang nakakalungkot masyado magsamantala ang mga tga GSIS sa mga taong nangangarap magkabahay at maglalaan ng perang sobrang pinaghirapan. Come on, these anomalies should be brought to President Noynoy’s attention, or calling IMBESTIGADOR or BITAG???!!!

one common problem and sobrang sakit sa ulo:
OCCUPIED – paano ba ito paalisin ng matiwasay at walang gulo, masisira etc, ng hindi na kelangan umabot sa korte?

Sa mga taong ayaw umalis, eh walang pinagkaiba sa squatter, if ayaw umalis sana magbayad kung wala eh di maghanap ng kaya sa bulsa.

What are the some procedures and hiccups pag Occupied na? Papaalisin ba sila or hahanapan muna sila ng lilipatan or me notice ba sila?… Need to make sure na di maaagrabyado yung nakatira…. I can protect myself with these so-called GSIS corrupts. Pero di naman ako heartless sa mga taong walang kaya sa buhay. Nagbabayad ba sila ng rent?

i agree with you kaya in my opinion, pag occupied, move on na lang sa ibang property. Not really sure kung nagbabayad sila ng rent.

SIR GUSTO KO LANG PO MALAMAN KUNG ON LIST NA PO YUNG BLOCK 24 LOT 34 SA LAPIDSVILLE 11 SUBD TAMBUBONG SAN RAFAEL BULACAN,THANKS PO AND GOD BLESS

helo.sir may foreclosure po vah dito sa zamboang,either sa guiwan,sta.ctalina at tetuan o sa sta.ctalina

Sir,

I would like to ask if you have a vacant lot or foreclosure house near in francisco homes subd. san jose delmonte bulacan and i have found one vacant lot and house as well but not in the list.

SIR,

puede niyo ako bigyan ng list of foreclosed properties dito sa Sto. Nino Village, Brgy. Perez Meycauayan Bulacan. Salamat po.

please send me foreclosed properties in Cogeo Village, Antipolo City

hello po. I recently went a local branch of GSIS and was told that only GSIs members can avail the ‘installment’ mode of acquiring foreclosed properties. cash basis na po if non-member. I am interested in buying a low-cost housing unit but surprisingly, the same bears no assessment price pero cancelled na ito (pre-owned po kasi). This is frustrating since my mom was the original awardee and we wanted to take the liability off her hands once she retired. Kaso, it had been months since we started following the same up with the GSIS local branch at hanngang ngayon wala silang malinaw na solusyon. Funny because a number of foreclosed units in the same subdivision where my mom’s foreclosed unit is also located had already been posted with assessment or selling price in the ROPOA (Real or other properties owned or acquired by the GSIS). in fairness to the guy who answers my mom’s question, he is willing to help, kaso mo nga they are handed with limited power and access para matulungan talaga ung mga katulad ng mother ko who only wants her money back.

Dear Sir Jay,
May bago po ba tayong listings sa Bacoor Cavite? Puede po kaya ninyo akong tulungan in assisting the documents? Please lang po kasi nakakatakot po ang mga comments na naposted dito.
God bless,
Lily

Good day!
Sir Jay, meron po kasi housing loan sa GSIS (LCH) ang pag-kakaalam ko po yung contract prize ng house is 525,000.00. baka po pwede nyo ako matulungan kasi base po dun sa mga receipt ko almost 700,000.00 na ang nababayad ko, siguro dahil na din sa naging arrears nya before. sino po ba pwede ko lapitan regarding this matter. thanks po

Hi Bobsky, baka kaya mas malaki na ang nabayad mo sa TCP ay dahil sa interest. Pwede malaman ang interest rate at kung ilang years to pay? Gawa ako ng amortization table so we can check.

Hi Janna, would it help to coordinate with the main branch of GSIS? As you said, the guy who is helping you might lack authority and someone in the head office, or even his immediate superior in the local office might be able to help.

To everyone who asked for availability of properties in specific areas, thanks for the inquiries but you will have to ask them directly from GSIS. I suggest you checkout their list in the recent housing fair 2011.

The GSIS listing for September 2011 from the housing fair 2011 can be found here: http://www.foreclosurephilippines.com/2011/10/housing-fair-2011-acquired-assets-listings-for-download.html

Thanks!

Dear Puring, sorry but you will have to ask from GSIS directly. Also, please bear in mind that this listing from GSIS is quite old. Please refer to the following link to get their most updated list published here: http://www.foreclosurephilippines.com/category/government-foreclosed-properties/gsis