Updated on September 3, 2015 by 188 Comments

Jay CastilloHi, I’m Jay Castillo, and I do my best to help fellow real estate investors in the Philippines by sharing lessons I have learned when I started investing in foreclosed properties.

I was an Information Technology professional before I decided to go full-time with real estate investing and internet marketing.

Way back in 2006, I decided to quit my job. However, it took me 4 more years before I actually did. I decided to get out of the rat race when I suddenly realized that my job was literally killing me. At such an early age, I was diagnosed with hypertension with no underlying reason. I believe it was caused by severe stress from my work.

I was an I.T. Manager back then, but by default, I was also the Oracle Database administrator/developer, Information Security Manager/Network Specialist/Server administrator, and Helpdesk Staff (we lacked manpower pretty bad, and this actually lasted for more than 3 years).

rat race

This image from richgrad.com best describes how I felt back in the rat race!

With the scenario above, is it any wonder why I wanted to get out of the rat race?! At the back of my mind, I knew that there was more to life than just being an employee that was grossly overworked… for what?! This sustained my passion and desire to venture into real estate investing, and later into internet marketing.

My real estate broker credentials

I reviewed for and passed the November 2007 Real Estate Brokers Exam which was still under the Department of Trade and Industry (DTI) back then. My DTI Real Estate Broker License # is REB-NCR20056(N)-08.

As of March 29, 2011, my application for registration without examination has been approved by the PRBRES and I am now a PRC licensed real estate broker with Real Estate Broker License No. 3194.

To verify that I am a PRC licensed real estate broker, you may use the following procedure:

  1. Visit the “Verification of Professional Licenses” page at PRC’s website:  http://www.prc.gov.ph/services/default.aspx?id=16
  2. Use the “Search by name” option
  3. From the list in the “Profession” box, select REAL ESTATE BROKER
  4. On the “First Name” box, enter JOSE DIONISIO
  5. On the “Last Name” box, enter CASTILLO
  6. Click on the orange “Verify” button
  7. The verification result will be displayed
You should see something like this:
PRC Verification of Professional Licenses page

Tip: You can also use the same procedure above to verify the license of other real estate brokers!

I started this blog last October 31, 2008

When I started this blog, I was more focused on acquiring investment properties that generate passive income through foreclosed real estate investing. My goal then was to surpass my passive income goal before the end of 2009, and then I shall “retire” from active employment and go full-time with my advocacy.

This was exactly what I did, although it came a bit late. I was only able to “retire” from active employment by the end of January 2010. I was late by about a month but I don’t mind that one bit!

Now I’m more active as a real estate broker, although I’m still on the lookout for good deals and opportunities.

I’m currently focusing on buying foreclosed properties for myself, which means I cannot broker properties for now.

The journey continues…

My advocacies

Financial Literacy

So what are my advocacies? For one, I advocate financial literacy as a means to a worthwhile end: becoming financially free!

After one becomes financially literate, the next logical step would be to find other income streams, ideally, the passive ones.

Obviously, one way to do this would be through investing in foreclosed properties in the Philippines.

Why bother to become financially free? To live life to the fullest! Ask yourself, what would you do if money was no longer an issue? Think about it!

Real estate investing for real in the Philippine setting

Another advocacy of mine is to help fellow beginning or newbie real estate investors to succeed with real estate investing here in the Philippines. I do this by sharing what I have learned based on actual experience.


In a nutshell, my mission is to be financially free with the ultimate purpose of helping people and my community. My goal is to make a positive difference in the lives of people around me, no matter how small that may be.

The only way I can do this is to share the lessons I myself have learned in my journey to financial freedom. After all, one cannot give what he does not have. I hope to help as much people as I can who are in the same journey.


In the perfect world that I envision, I can see a lot of people who are truly rich and financially free. Would you want to be part of that world?


About the blog

I started this blog as a tool to help me in my real estate investing activities. In this blog, I have all my foreclosed property listings and important websites online, so I have no more clutter and lost clippings of foreclosed properties at home. Old listings are archived and can be accessed as needed … Click here to learn more…

Why did I choose the domain foreclosurephilippines.com?

I often get the question “Why foreclosurephilippines.com”? It sounds too negative! It’s like I want to foreclose the whole Philippines. This of course is not true.

I simply chose the domain foreclosurephilippines.com for search engine optimization (SEO) purposes. A lot of people are actually searching for these keywords using Google, which is probably why a lot of people end up on this site!

ForeclosurePhilippines.com runs on the self-hosted WordPress blog platform and is powered by the Dynamik Child Theme for the Genesis Framework by StudioPress. Our hosting is provided by Dreamhost Hostgator and I got the domain from GoDaddy.

What am I doing and why?

My goal here is to make investing in real estate in the Philippines a bit easier for fellow real estate investors out there. At the very least I want to help make it easier for people to find all available listings of foreclosed properties out there.

At the same time, I want to share real life lessons learned from the trenches, the things you will learn for yourself if you do decide to go out there and invest in foreclosed properties here in the Philippines.

I am not a real estate guru!

I still see myself as a newbie real estate investor, believe it or not, and I don’t claim to be a guru! I still have a lot to learn, who doesn’t?

Without the hype and B.S.

I would like to paint a realistic picture of how this can be done without the hype and B.S… period! After all, investing in foreclosed properties is not a get rich quick scheme!

Raising hope without giving false hope

I keep on saying that real estate investing might be simple, but it is not easy. No, I am not trying to discourage anyone out there, I just want everyone to manage their expectations. It can be done but it would take a lot of hard work and perseverance, at least at the very start.

Even if one is able to create passive income streams, there is still such a thing called maintenance and management of one’s business, which in this case is real estate investing.

I would like to point out that there really is hope that real estate investing can lead to financial freedom, but you have to pay the price. I would not want to give any false hopes that you can achieve success in real estate investing overnight. You need to plant before you can harvest, there are no shortcuts.

Investing in real estate ethically, morally, and legally

I truly believe that we can all invest in real estate in an ethical, morally upright, and legal way. We can do this without taking advantage of other people, and this is the only way for long term success.

Paying it forward

I simply believe that this is the right thing to do. I guess this is my way of paying it forward to all newbie real estate investors out there. A lot of people helped me along the way, and I want to do the same.

You are not alone

If you are new to real estate investing in the Philippines, I just want to let you know that yes, it can be done, and you don’t have to do it alone, because you are not. You are welcome here, enjoy your stay!

Here’s to our success and financial freedom!

Jay Castillo
Real Estate Investor
PRC Real Estate Broker License # 3194
Blog: http://www.foreclosurephilippines.com
Follow me in twitter: http://twitter.com/jay_castillo
Foreclosure Philippines in Facebook: Foreclosure Philippines Facebook Page

Text by Jay Castillo. Copyright © 2008 – 2011 All rights reserved.

Image source: Richgrad.com

PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

PPS. If you feel that anyone else you know might benefit from the contents of ForclosurePhilippines.com, please do share this to them and don’t forget to remind them to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.

  • zumo

    Good day po Sir tanong lang po ako dahil kumuha po ako ng house and lot sa cebu last Nov po .if madelay ba ng payment 2 months babawiin na ba ng bangko dahil po bank financing po to sir .pero magbabayd namn ako pagmakabalik ulit ako ng australia.anu pong advise nyo sir .thanks po

  • Allan Mantaring

    Hi Jay, currently im a seaman working as chief cook, actually my job give e a good salary rather working in our own beloved country. But despite of this good income, there is sadness inside me and that is my family, I actually planning to start to invest in foreclosure property, but to tell you the truth I know nothing on it, hopefully your blogs help me to start in my new journey in real state. I am really blessed i find your blog in ANGAT PILIPINAS COALITION. God bless and more power.

  • http://www.foreclosurephilippines.com Jay Castillo

    No problem Ivy. :-)

  • http://www.foreclosurephilippines.com Jay Castillo

    Good pm po, mas mabilis po kung tatawag kayo sa BFS. Marami po kasing inquiries ang pumapasok through the inquiry form, around 30 per day. Please call for faster response. Salamat po.

  • Gie

    i’ve been looking for a property to buy somewhere pasig/ cainta for over a year now however i still have not seen the property that i can probably say good enough for my family. my loan application has already been approved by a particular bank first quarter of this year and i’m hoping to find the right property anytime soon. i hope you can help me. thank you.

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Ms. Tess, napakaganda po ng hangarin niyo at saludo po ako! Ang suggestion ko po ay maging maagap po kayo sa mga property dun sa lugar na gusto niyo. Patas lang naman po ang laban, unah-unahan lang po talaga, pwera na lang po kung auction.

  • Cecille

    Hi Jay

    My problem is slightly out of topic, I am just so desperate to get some answer as I am based overseas. We have two condo unit with DMCI, diffculty came and it hard for us to continue paying the in-house mortgage.

    1st unit – we paid over 2 million (20% deposit + 10mos mortgage) developer only refunding us around 500k after deducting marketing cost of 177k, penalty 50k etc…
    2nd unit – we paid around 2.5million (30% deposit + 9mos mortgage) developer refunds of about 720k after deducting the same + property tax.

    Developer wouldnt explain what are the deductions, only told us to lodge complaint at HLRUB if we have any, so basically, what we can have for refund is like 25% of what we totally paid.Is this legit? we are searching Maceda law and it doesnt really say about deductions, it just say we are entitled 50% of what we paid regardless of the contract we signed. Patulong naman po. Thank you. Cecille

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Cecille, I guess you have no recourse but to lodge a complaint at the HLURB. I believe this is the only way to force them to explain the deductions.

  • Ahvic

    Mr. Jay i just want to ask ung nakuha po ng brother ko seaman po ksi xa and npatagal ang bakasyon nya ndi po nya nhulugan ng 11 mo ung bhay nya may tumawag po pagibig last friday and sabi po nya kailngn mabayaran ang 300k ng monday or else ifoforeclose po nila ung tirahan nmin nkiusp po kmi na pgbgyan kmi khit 1 mo para maproduce nmin ang pera but then ndi po sila pumayg .. Im requestng 4 a promissory note muna since nkaline up n po xa mkasakay ulit pero d po sila pumayag gnito n po b khigpit at manggipit ng tao ang pagibig .. Imomove n daw po nila sa legal ang case para ipadlock ang bhay nmin

    • http://www.foreclosurephilippines.com Jay Castillo

      I’m sorry to hear your brother’s situation pero may pag-asa pa po yan. May 1-year redemption period pa po, at sa pagkakaalam ko po, hindi nila pwede ipadlock bahay niya during that period.

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Jam, thanks for the interest. I have just updated our rates and you can see them in our advertise page: http://www.foreclosurephilippines.com/advertise

  • gil banaria

    Sir Jay,
    I hope you will start a focused online listing-buying-leasing real estate exchange site like that of bahay.ph, mypropety.ph, philippinerealestatemls.com, ahyer.com, homes.point.com – yung pang-real estate lang. Then make it more generous by not putting a price tag on every spot or section of the site. Your blog has become one of the top blogs inspite of it being free! Generosity has its just rewards. You can replicate this excellent service in the property exchange activity. Just expressing an opinion.
    Gil Banaria

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Gil,

      Thanks a lot for the kind words. Actually we have this in our pipeline, but there is no definite date yet when the site will be ready for public use.

      For sure we will announce it here when it’s ready. Thank you so much Gil!

      • gil banaria

        Eagerly awaiting that, Sir. Here’s praying that more learnings come your way – for more sharing!
        Gil B.

  • Lyn

    Sir marami salmat po sa reply..ay ganun po baun kaht na sa amin un bahay at hawak namin ang titulo eh pede ipaauction ng bir?wala po 
    Bang notice na darating sa amin?at mga ilan yrs po ba bago nasasabing tax delinquent properties for public auction?pasensya na po at tlgang wala po ako alam malaking tulong po ang katulad nio sa amin mga naguumpisa pa lang,maraming salamt po ulit!

  • http://www.foreclosurephilippines.com Jay Castillo

    Sorry everyone, I need to focus on finishing the members area and updating the database, so I will not be handling any foreclosed property inquiries for now (I will start removing my number in all remaining listings that include me as the broker). Other listings are direct to the seller, so please contact them directly. For Buena Mano properties, please contact my wife Cherry at 9662541/09178568573. Thank you.

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Kf, we’ll publish a compilation of review centers once providers start publishing their schedules for the 2015 real estate brokers exam. They usually start at September.

  • marco

    Hi jay
    I want buy ps bank forceclose properties. Could u admit me get Max discount and best term and condition.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Marco, we’ll contact you directly through email. Thanks.

  • Lyn

    Hello po.my gsto lang po aq itanong pano po ba yung bahay at lupa namin na gusto namin ibenta nabili po namin 15 yrs.ago pro d po km nakakapagbayad ng tax ng bahay amilyar lang po..anu po ba dapt gawin?anu po ba ung tenyears back tax na sinasabi at panu po inaapply un?

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Ms. Lyn, pumunta na po kayo agad sa assessors office para makakuha ng Statement of account(SOA). Yung 10 years back taxes po ang total na taxes plus penalties and surcharges. Bayaran niyo napo agad bako masama bahay niyo sa tax delinquent properties for public auction.

      • Lyn

        Sir marami salmat po sa reply..ay ganun po baun kaht na sa amin un bahay pede ipaauction ng bir?wala po Bang notice na darating sa amin?at mga ilan yrs po ba bago nasasabing tax delinquent properties for public auction?

      • Lyn

        Sir marami salmat po sa reply..ay ganun po baun kaht na sa amin un bahay pede ipaauction ng bir?wala po 
        Bang notice na darating sa amin?at mga ilan yrs po ba bago nasasabing tax delinquent properties for public auction..hihingi lng po ba km ng statement of account sa assesors office at pg nabayaran na ba eh maaaus na po ba?pasensya na po at wala tlga kmi kaalm alam sa ganitokya malaking tulong po kau sa mga katulad namin wg po sana kau mgsawang magturo sa mga nangangailangan salamat po at god bless!

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Patrick, yes, we will add PVB soon, we are just gathering more info. Thanks for the heads-up!

  • Laila Dee Capistrano

    Hi Jay, I’m searching about Property Tax Amnesty in Manila, when I saw your ForeclosurePhilippines.com. I read a lot which makes me interested. I’ll keep in touch w/ you through email. BTW, do you think the RPTax amnesty in Manila will be granted this year?? Laila

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Ms. Laila, it’s possible with Erap at the helm in Manila, but nothing is for sure.

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Paul, Thanks for the kind words. To get a fairly accurate estimate of a property’s market value, you can just follow what we do, which we wrote in the following article: http://www.foreclosurephilippines.com/2009/07/how-i-estimate-market-values-of-foreclosed-properties.html

    Even if your property is not a foreclosed property, the same principles apply. Good luck. :-)

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Issa, the first thing you should check is if the developer has a License To Sell issued by the HLURB. Just go to http://www.hlurb.gov.ph and search for it there. Let us know if you find it so everyone here knows they are legit. Thanks!

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Oliver, thanks!

    Yes, OFW’s can purchase foreclosed properties, but I highly advice you do the final inspection so you can decide if you really want to buy a property. You can’t depend on anyone else to make that decision for you so I guess you have to come home to do this.

    Of course, you need a trusted person to inspect and shortlist properties before you come home to inspect the most promising ones. You also need to execute a Special Power of Attorney or SPA in favor of a trusted relative who can sign on your behalf in case the paperworks are not yet complete and you need to go back abroad, just make sure the SPA is very specific and only covers what you specifically authorize that trusted person to do on your behalf.

  • Marites Meres

    Jay, I hope you will receive my mail on speedy way. I am facing a situation with my amortized property in kawit cavite inside a subdivision. I faced arrears of 5 months, I do want to loss my property, I paid a lot for the down payment and monthly amortization. Can you please help to keep it. I requested to have a dialogue with the bank via skype or telephone to express my intention to keep the property. Because it is holiday in Philippines, so I will wait until bank resumes business in Jan 2014. Can you please help me.

  • April rose

    Hi jay , ask ko lang if you encounter an assume balance condo sale? Thanks!

  • alfred
    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Alfred, may I know what topics you are interested in? We might have them here already and you don’t have to attend any seminar. :-)

  • jose camagay II

    hi sir Jay, I want also to be a license real estate broker, can you recommend me any school that I can attend to, for review

  • Ron Buenaventura

    Hi Jay,
    I’m a Filipino Canadian currently residing in Toronto.
    I got some interest in investing in a 2-3 hectare Agriland for Mahogany Plantation.
    Looking at the area of Puerto Princesa or Bicol. Would appreciate if you could direct me to the right spot where to start , foreclosed farm land would be a good idea if you could find me one.
    thank you and regards,
    Ronnie Buenaventura

  • Rogel Corrales

    Hi Sir, I would like to know what is the average selling price of a lot (per square meter) in GSIS Hills, Talipapa, Novaliches, Kalookan.


  • dennis

    Sir Jay,ty for ur helpfull blog, ask ko lng Sir which website or investors sa pinas pede magbinta ng lupa.This lot i mentioned is located in Cebu it is about 4 hectares.This is actually agricultural land but nearby w/ the area is town homes at d kalauan sa SM City.Looking forward for ur advice.
    God Bless.!!

  • junior Cabingas

    sir ask ko lang po.. tungkol po sa property jan sa CDO SA MEGAHEIGHTS subdivision marami papo bang bakante?? tas tanong ko lang po if SAAN BANDA ANG PHASE 1?? KASI MAY BABA AT TAAS DIBA???? SA BABA PO BA? PLEASE REPLY PO sa email ko. maraming salamat:)


    HI JAY,





  • Wenju Matt Herrera

    Last January i put a down payment for a property in Palawan….this end of June i promised that i will pay the full amount of the selling price, the question is, is there any suggestion or comments from you, because all the transactions was done by the lawyer in Puerto Princesa., and this is the first time for me to deal a property in Philippines…i am Filipino and from abroad. Any suggestion or comment will be fully appreciated,

  • Cassandro

    Hi Jay!

    Can you please help me, i am trying to help our OFW’s here in Kuwait on Property Owning Literacy on both Investment and their Dream Home.

    I am offering my capabilities as your channel here in Kuwait.

    Some of our kababayans are interested on the “Foreclosed Properties”, what are the tools and requirements needed in order for an OFW to acquire their desired properties?

  • http://facebook.com/joy.apostol.37 Joy apostol

    sir pwede humingi ng opinyon kc hndi po kmi member ng gsis tpos ang ginawa ng developer gumamit po cya mga tao na gsis member at ung devloper hndi po nere2mit ung payment nmin kaya naging magulo at malapit na daw po maforclose at ung ginamit na tao ayaw na po pmayag reinstructuring ngayon nagpunta po kami ng gsis kasama yung holder na ginamit para humingi po kami ng latest balance ngayon po yung outstanding balance pag iCash po namin may discount po ba o kaya amnesty sa mga interest

    • http://facebook.com/joy.apostol.37 Joy apostol

      paano ko makikita reply niyo po?

  • Myrnz

    Hi Jay, we have a property in sta. rosa laguna in which we want to sell, with a house around 90 percent finished already. the lot is 140 sq. m. Would you know of someone who can help us? or maybe anybody who can finance to finish the house and then sell it? thanks.

  • Jennifer E. Lodia

    Hello Sir,

    I am interested on item D-356-0131 under La Union. Is this still available?




    hi Jay or Cherry, i want to know what to do with a property title wherein one of the owners passed away and planned.
    There are surviving owners and the surviving owners plan to sell it


    • arnel fuentes

      Hi Sir,
      I had read what you’ve been into in different perspectives. Like you, I wanted to be a licensed real estate broker. I took the 27th annual review for real estate broker last N0v. 1982, took the exam and passed it. But up until now, i had not secure my license from the DTI then, PRC now. I presently work in the Government as Housing coordinator from 2000 to present. With your experience, do i have a chance now to get my license?My present job deals mostly in real estate handling.Besides, i am interested to follow your blog/posts, just to be aware in these present times of real estate business. Thank You

  • len

    Hi Jay,

    Your website is very informative. Im very greatfull that I found this site. Hope you could advise me.

    I bought a condo in mandaluyong, already started 3 months DP amortization and got my loan approval in pag-ibig. The developer have it leased first before it was sold. During the punchlisting, I am very disappointed because the unit have lots of damages. I did not notice it before i bought it because the tenant is still in the unit. The developer promised to repaint/renovate the unit…. But I am thinking now to not continue with the next DP amortization on March 10 and cancel the sale. Can I refund my payments? Or if I stop paying on March 10, do I have grace period to sell it so I can refund my payment? Or what options can I do. Sayang kc ung nabayad ko.

    Can you advise what is the best investment? To buy a lot first, then save money again to built apartment or to buy a condo, loan in bank and have it rented to help with amortization? The reason also why I back out from the condo is because i’m afraid that in the future due to circumstances, I can’t pay anymore the loan.

    Can you advise what is the best investment?

    Thanks in advance Jay,

  • Ruben

    Hi Jay, nice to read all your blogs, just wondering if you could help to purchased the property in Mayamot Antipolo by RCBC savings bank, B20 L12 Caimito St., Palmera Subdivion. I heard that the previous owner doesnt want to vacant the property, could i have an advise please. Thanks


  • Cheryl

    Jay, pwede mag hingi ng advise.

    i am working on a refund through maceda law against megaworld. nakabayad na ako ng 2 years so qualified ako. i also send my cancellatiion sa megaworld. NOW, from here ano gagawin ko.
    mayroon ka kilala good lawyer, to work my case.

    Thanks, Cheryl

    • cez

      Hi Cheryl,

      How’s your refund sa Megaworld. I have the same problem.

  • cherq

    Hi Jay,

    I purchased an agri land last year and had it titled. The title is already available but pending registration. I believe this one will take long (currently on hold based on LRA online status). I didn’t ask for an actual survey of the lot as I got the vicinity map from the assessor’s office and assumed this was correct.

    Now my concern is I’m looking at the vicinity map and I got hold of a photocopy of the title and checked the technical description. I got some information from a website how to interpret the data and plot the shape (roughly). However, it doesn’t seem to match that of the vicinity map – fewer points. I believe the guy from DENR who processed the title used the technical description from the original survey (1920s). But I’m confused why it doesn’t match the map when it should, right?

    On the other hand, the neighbors are also giving me different information on the “boundaries” of the lot based on common knowledge. I am planning to fence the area. What is the best way to go about this without causing boundary conflicts with adjacent lots? I have been informed by the guy from DENR to do the relocation survey once the title is out. However the guys from the assessor’s office are telling me they should have done the survey prior to processing the title.

    Your help will be greatly appreciated. Thanks!

  • marlon mota

    Hi Jay,
    Just wanted to say my sincere Thank You’ for taking this on. You’re really helping people a lot in their journey to financial success. I’ve been following this blog of yours for some time now but not yet generating any action for myself. I hope this ‘first time posting’ will ignite the fire… Any advice BTW, why some people like me is still slow to action given all the useful guides and sharing from others?

  • Jessica H. Dela Cruz

    Hi Jay,

    I’m Jessica H. Dela Cruz, OFW here in Qatar. I spent half of my life working abroad that’s why I’m sick and tired working here abroad. I’m interesting investing for a foreclosed property because is cheap and flexible payment. In this case, can you please advise me where I can buy a foreclosed property wherein I start for Gasoline Station business or Grocesary Store….Can you please help in this regard….Hoping for your favorable reply soon….Many thanks…Jessica H. Dela Cruz

  • elisa

    Hi Jay,

    I was lay off in our company last July 2012. I’m planning to invest in real estate to have a passive income for myself and for my loved-ones. I’m also interested in one of the foreclosed properties which you advertised in this website, but the amount is not sufficient from what I got from our company.

    Would you help me how to start a passive income from real estate.

    Thanks and God bless!

  • ross

    Hi Jay,

    i’m posting this for a friend. but i’m one of your followers / subscribers on this website. I really think that this has helped many people and so far for me as well as I am now thinking of investing for a property on my own. Thanks for this site and you as well.
    Anyways, my friends has a lot in la union which was given to them by his mother in law. unfortunately, his wife passed away. He is now thinking of selling the lot. We would like to know how to begin in doing so and what would be the process? We would really be glad to hear from you soon, best through email or mobile. More Power and Thank you in advance!

    — ROSS —

    • ross

      Hi, jay! it seems we you are busy.. will just be waiting for your feedback.. thanks!

  • Nar

    Hi Jay,
    Happy New Year! I am looking for a 200+ sqm. lot preferably somewhere in Multinational Village or United Pque. Can you help me find one? Thanks!

  • conrad

    please sendme the details of
    d 1360539
    thank you

  • Louie Walican

    ur a great help to people…very informative and well though off blog… my respect to u

  • Robin

    Gd pm Jay,
    I just invested in 3 condo units from Shell Residences located in front of Mall Of Asia.
    May I ask your expert opinion on my investment. Are they in good location?
    I happen to chance upon your website thru Money Sense Magazine and learn a fair bit about Foreclosephilippines, am impressed with yr knowledge.
    I hope to invest in foreclosure condominium in Pasay or Fort Bonifacio Global City and hope you can be my adviser or even broker.

    Towards better health

  • Ann magbanua

    Hello Jay,
    I am so happy to see this column . I am presently residing in UK. I have a apartment in las pinas which I wanted to sell.Can you help me find a buyer please. It has been no occupants for 2 years now but I have a caretaker who does the cleaning .Please will you let me know if you can help me.thanks. Ann.

  • Clark

    Hello Mr. jay Castillo. Actually, I work as an agent and I currently have a friend now who wants to help me to put up a Real Estate Business. Could you give me some ideas on how to get to have a good Real Estate Business? This friend of mind has a lot of money and he is now waiting for my proposal. Wish you can help me on it. Thanks.

  • Dexter Dizon

    Hi Jay!
    I’m reading a lot of articles lately but I really don’t know where to start until I found this site of yours. I want to learn something new and become financially free, I’m also in IT field.
    Thank you for this very informative and helpful site. I’m hoping to meet you some time in the near future..
    Godbless you always.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Dexter, I’m always glad to see a fellow IT practitioner here, thanks for dropping by! You’re welcome and I also look forward to meeting you one of these days. By the way, sorry for the late reply (and comment approval), I noticed at any given day there are at least 20 comments to approve and somehow yours got buried under the newer ones. :-(

  • Janeth D.

    Hi sir, is this property still available? pls provide me some information and pictures.. pls contact me. 0915-483-0452.. thanks and God bless
    no.490 4th street cor Rd L7
    Angeles Citicenter subd, Phase 2
    Brgy Tabun, Angeles city
    L.A 228sqm
    F.A 92 sqm
    min bid- 1,253,000

  • http://n/a JV Cruz

    Hi Jay,

    Can you refer me to some of your broker friends whose area of responsibility or concentration is in Paranaque? I’m selling my parent’s house and lot in Sun Valley Paranaque? Can send their contact details to (deleted by admin). Thanks!


    • http://www.foreclosurephilippines.com Jay Castillo

      Hi JV, my wife and I can handle this for you if you want. You can call/text me at 964-9489/0917-8843882. Just let me know, thanks!

  • Lennon Seno

    Hi sir, your blog is very helpful and inspiring. I’m also in IT with a nice job but am also looking for financial freedom like you. I can see myself thru you – very passionate and focused in every things in the way. I hope I will be like you when I pass the broker exam next year. I’m gonna keep coming back in this site that’s for sure.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Lennon, glad to hear we have very similar backgrounds, and you are taking concrete steps to pursue your goal. Good luck with the brokers exam, i’m sure you will pass, I look forward to seeing you in the top 10! I hope to see you around here often! Cheers!

  • Romeo

    Hi Jay, You sound like the expert at these matters. When does the Philippine govt foreclose your property for non real estate tax payment. We have a property in Cam sur, Last time i guess the taxes was paid was 2010. Do i still have a chance to pay what i owe without govt foreclosure? I appreciate the response. Thanks

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Romeo, thanks for the compliment, although I would rather refer to myself as a practitioner who is still learning, which is really a never ending process. I’ve seen tax delinquent properties whose arrears were only for 5 years and they were already up for auction. A lot were for 10 years or more. So it means you definitely have a chance to settle your arrears, you just have to pay penalties and surcharges, if any. Thank you also for the question, cheers!

  • http://e.b.loredorealty.com Elmer Loredo

    Hi Jay.. it’s quite a long time already since you have been sending me information regarding foreclosure investing as well as materials/listings of bank foreclosed properties.

    Its only now that I have the opportunity to send this message to you.. I look forward to meeting you some time in the future regarding real estate investing, marketing and others.

    I am Elmer Loredo, a real estate broker # 411 and Real Estate Appraiser no. 56. I am a real estate builder, lecturer and one of the partners of a real estate auctioneer before.

    Hope we can meet in person. Elmer Loredo 0920-9134800 or 8718285

    Thanks and more power.

    Elmer Loredo

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi sir Elmer, that would be great! I’ll contact you directly through text. Thanks again!

  • http://360philippines.com Milo Timbol

    Hi Jay! I heard you talk during the internet marketing summit organized by Anton Diaz (I took his Maven’s course). Anyway I’d just like to congratulate you on your website, it ranks pretty good on real estate keywords and it has really good information. I’m planning to take the exams next year, hope to make a living out of it too and get out of the rat race. that’s it! more power to you!

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Milo, thank you so much! Good luck with the real estate brokers’ exam, and I look forward to news that you are already out of the rat race! Cheers!

  • paul
  • Bong

    Hi Jay,

    Do you have list of reputable and recommended interior companies dealing on extension, and designing and do construction as well.

    Appreciate your feedback.

    Bong (aka bizmen PMT)

  • Mary Ann De Sousa

    Hi Jay, I am looking for a foreclosed property to buy within the area of proj.4, 2, and 3 or Murphy, and Cubao…please let me know as soon as you got any information..Thanks a Lot and More Power

  • http://www.behance.net/knels_art Knel

    Hello, Mr. Jay. Our house and lot in Elysian Homes Subd., Meycauyan, Bulacan, has already been foreclosed, and transfer process to Bahay Financial Services is already done. Sad to say, we were late in officially giving it up, although we were notified about it (we simply misunderstood things). Now, i fear because my husband’s name is blacklisted in SSS? (as what BFS told us), and it sure has an adverse effect on his retirement benefits (is that true?0 –and the only way to clear this up is to have the property sold. But selling it now is already out of our control. How could we help expedite selling it? Many thanks, and God bless.

  • Rocell

    HAve you written your book yet? Is it available?

  • kat

    Hi, Jay. Thanks for all your hard work for this website. It’s very helpful.
    Landed here because I’m looking to buy for myself.
    Maybe if I find the process easy enough, might do it as another stream of income.

    I wrote though because I noticed a lot of people are asking for solutions in the About page. Maybe you can set up a Forum page also where your community, since they seem to be composed of different experience levels of buyers and agents, can help each other out easily.

    Just a suggestion.

    Other than that, I wish you and your blog long life and abundance.

    Warm regards,

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Kat, thanks a lot for the feedback and suggestion. Yes, a forum is in the works. I just need to finish fixing the blog. Although it is functional right now, the next version that will be more user friendly will soon be deployed. After that, the forum and members area will be next. Please watch out for it!

      • Maj

        Hi Jay,
        I just came across your website and I need a favor..
        Am a forigner who bought recently a condo in Manila, I have paid as well the agreed 20 % downpayment.
        For some reason , I decided not to continue anymore , and not to pay the balance 80 % .
        I have contacted my developer for this issue .
        May I know what will happen next as a result of my decesion ?
        Will the developer compensate me something out of the payments I already made ?
        Any Liabilities on my side ?


        • http://www.foreclosurephilippines.com Jay Castillo

          Hi Maj, I was thinking if you can get a refund through the Maceda Law but if you have been paying for less than 2 years, you would only be entitled to 60 days grace period, during which you can sell the property or assign your rights to it. I believe this is the best way for you to get something back.

  • http://www.facebook.com/people/Marvin-Monsale/100001100323620 Marvin Monsale

    Nice one Jay, pls. keep it going!

  • Paolo Enrico Bondoc

    Hi Sir Jay!! I just recently passed the Real Estate Broker’s exam and I was wondering if you can give me some tips on how I can start in this industry..I have heard a lot of people saying that I should start in project selling but that would mean I have to do it in full time. Can I apply for developers as a part time broker? What are the requirements for me to be accredited? I’m a freelance contractor by the way, so is there a way for me to do both things? Thanks in advance!!

  • hera

    FOR SALE: Townhouse in PQUE.5mins drive to airport,10-15mins to Makati & MOA.3 bdrm with 4 T&B,veranda,newly painted.wd swimming pool,clubhouse,basketball/tennis court,24/7 maximum security.4M (neg)(terms)..BEst BUY!!!…for more inquiries contact 0932-4806627..

  • louis581

    Thank you Sir Jay for making http://www.foreclosurephilippines.com will surely share your advocacies as well. By the way I never knew That I could be verified through PRC’s website. Just checked may name and there it is, so nice!

  • Gina_guiking

    Hi Sir Jay, your website is very helpful. I am a starter in terms of real estate brokerage and I really like reading/seeing ads regarding this matter. It helps a lot esp    from someone more experienced.  If one of these days you can held seminars/workshops, I really appreciate if i can attend.  More power to you.

  • King

    Hi Sir Jay, your website is very informative. I am looking for a property in Bacoor Cavite can you help me with this? Can I have your mobile number also? Thank you and God bless

  • Alice sancor

    is that ITEM PB34 house and lot in oltama, urdaneta city, pangasinan located near urdaneta city, pls reply to my email.i wana buy if its good for rent purpose.tnx

  • Alice sancor

    hi jay, am looking for forclosure res.lot/house and lot around baguio,benguet and pangasinan(along hi-way only)..pls email me.tnx

  • Antonia D. Molina

    May I be informed/advised  about a foreclosed house I bought in Narra Homes, Imus, Cavite from Balikatan Property Holdings on March 24, 2011 and it’s almost a year now.I bought the property because the redemption period is already over. However the former owner doesn’t vacate said property because he said Balikatan has not sent him any notice ordering him to vacate the house. When I requested Balikatan thru NHM to send him a letter, their employees would quote what is stipulated in the Deed of Conditional  Sale “As is Where is”. My query is if Balikatan is the owner of the foreclosed house, why can’t it order the occupant who did not do his obligation of paying the house and lot per contract? Why do I have to resort to going to court? Please inform. Thanks.

  • Josephine

    Hello sir Jay, I am a real estate agent for almost 9 years and haven’t tried selling a foreclosed properties. Right now i am having a hard time looking for a house and lot with at least 500 sqm and 200 sqm lot area for parking purposes of a 13 units jeeps and 3 jeeps somewhere in Dasmarinas city. My client is persistent to find them asap. What to do?  Thanks and god bless.   J.M

  • conrad

    good site very informative.

    Sir, how does the foreclosure auction works? if you are the winning bidder do you have to pay additional charges aside from the bid price?


    God bless!

  • Edwin_tacdeo

    I’m selling my house at Tierra
    Vista Subd.,Marikina.
    LA 244 sqm FA 100+ sqm.
    semi comm’l(main
    road). It’s located along the primary road of the subdivision used by most
    all roads are cemented,
    near tricycle terminal(easy access to public transport
    corner lot,
    car garage,
    maid’s quarter w/ own T/B,
    Dirty Kitchen,
    side easement,

    Steel trusses for durability,
    newly refurbished,
    fruit bearing tree,
    corner lot.
    Few meters from
    clubhouse (includes covered basketball court,tennis court, open spaces,
    church, playground),
    near Farco
    near NGI wet and
    dry market.
    formerly owned by showbiz personality.
    Clean title
    Can include

    Call 639195383578

  • Rosemarie Mangosog

    hi jay, i am a real estate broker in california licensed by the de[t of real estate. how can i be a broker in the philippines? do i need to take the test? pls advise. ty

  • Ysmael

    Hi Jay. I would like to solicit your advise for a good real estate broker who maybe given the authority to sell a good location house and lot in Paranaque.. Thank you

  • Isaias Isanan

    Hi! Jay,

    I just wanna know if there is another set of schedule for broker license exam aside from march 27, 2012?

    God bless, 


  • Pachomius2000

    Dear Jay Castillo and wife:

    You are to all appearances persons who are knowledgeable about fund management, I need people like you; do you accept questions in private from people like myself on matters that have to do with fund management?

    Pancake Croissant aka Gerry

  • Pachomius2000

    Hope you get to read this comment.

    Dear Jay Castillo and wife, if are interested, or you have any ideas what you can do with them, two house/lots in Provident Village, please contact me: we can just help each other to our mutual benefit.

    My email: pachomius2000(@)yahoo.com.sg ( I am in the Philippines and living in Diliman QC ) — please just remove the parenthesis marks ( ) and you have my email address ready to use to send me your reply. 

    Pancake Croissant

    Two (2) units house/lot
    In Provident Village Marikina City
    145 Harvard concrete 2 floors
    Location not floodable except for Ondoy
    Lot area 336 sms
    3 cars can park inside and enter/exit
    without moving other cars
    Price net 4 millions pesos
    4 St. Anne near corner St. Rita
    Concrete 2 floors
    One (1) meter elevation from street level
    Lot area 409 sms
    6 cars can park inside, 3 can enter/exit
    without moving other cars
    Price net 2.5 millions pesos
    Call Gerry 351-8168 973-0753.
    Aka Pancake Croissant 

    • Edwn_tacdeo

      Would you be interested in swapping. I have a property at Tierra Vista, Marikina

  • Andrea Pabalan

    Hello Mr.Jay,
        I would really appreciate if you could give me some advice or maybe enlightenment what to do and whom i can approach for help in Pagibig Fund Office.I have a low cost house in sta rosa laguna(88sqm) which was awarded to me in 1996 ,started paying the monthly amort.of  5,218.61 but only until 1998 (my employer closed his company without any compensation given to us employees)thus my delinquency until i joined SAGIP an NGO that gave us members hopes na di basta ma forclose properties namin and the officers really had meetings and dialogues with then Pag ibig Officers and some respectable politicians until we were allowed to avail of a special restructuring and we are to pay from the first to third year the amount of 2,973.99 and on the 4th yr 10,205.09 and 5th yr.should be 12,422.33 that seems to be unrealistic for all of us members to meet but…sabi nang aming SAGIP officers they were so sure na di kami aabutin ng 3 yrs and magkakaron ng positive resolution ang aming appeal.But our hopes turned into desperation because wala nang nakiipausap na officers of Pag ibig same the politicians and i learned that almost 70% of SAGIP members stopped paying the agreed amount of amortization but not me..i tried my very best to pay continously until 2008 despite my being jobless ( i am a single parent of 3 boys)i only run errands for friends handed some help from kind relatives and if swerte2 did some buy and sell on the side  to survive.On Sept. 2008 nakipagusap ako sa Billing and collection div.ng Pagibig for some clarification because napansin ko na hindi nababawasan ang loan balance ko instead umabot pa nang 1M to my dismay considering na 375,000 lang ang contract price ng aking house n lot.PAG ibig  told me wala ng mababawas talaga kasi masyado maliit ang hulog ko so I opened up to them with my situation and asked their kind help to just allow me if possible to pay again the orig amort of 5,218.61 kesa ma foreclosed na repeatedly nilang sinasabi sa akin and with that i was so hopeless kasi my house n lot is the only property i got (dugo at pawis naipundar) na maiiwan ko sa mga anak ko.
              Until i was given another hope with the coming implementation of RA.9507Low Cost Housing Loan Condonation and Restructuring Program.They then computed me a new amortization amount of 13,917.25 payable within 12 years to my dismay.tinakot takot na ako nang foreclosure if i cannot come up with their demand of payment and there is nothing i can do but to follow kasi natakot na ako.Thanks to God my eldest son finished college 2009  and has helped me since then (nakakahiya man sa anak ko)because he has a family of his own now.I do not turn my back on obligations i know na ang utang ay utang pero i believe that meron at meron paraan ang ating government to help any filipino like me lalo at hardened up to own a house a simple house at that. i had paid my last amort.dec 2011 and i admit hirap na ako to pay for the next next months not until PAG IBIG will lend me a helping humanitarian hand. Do you think Mr Jay that i will still have all the chances of owning my house be granted a lower amortization to pay?Pls. pls. i need your help and advice .Sorry for this super long mail of mine.I thank you so much God Bless! 

    Andrea Pabalan

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  • Wpasimio

    Hi Jay!

    You’re doing a really great thing! I wish you greater success not only in your real estate investing but in your service advocacy as well.  Godspeed!

  • Mark Arsenio Moya
  • http://www.livingcashflow101.com/ Ronald Cagape

    Hi Jay, you have a lot of backlog in comments. I envy you! That just goes to show that you are the leading real estate blogger in the Philippines. I hope my blog becomes like yours when it grows up. :)

  • Samuel Galan

    Hello Jay, can I ask a question regarding how to become a License Broker without exam, I work as Sales Manager In Asian Pacific Realty for almost ten years. Im a license Civil Engineer in the PRC. I did not apply in the DTI or any government agency, am i qualified to become a license Broker without exam?

    I hope i can a positive answer, Thanks and God Bless.

    Engr. Samuel Galan
    73 Echavez Street Cebu City
    Cell 09325820071

  • Suarezjojo

    Hi Jay,

    This is going to be a big help to many Filipinos. God bless you more.

    Joshua Suarez

  • Tintin

    Hi Jay! Kudos to you and your wife. Your website is very informative and helpful. If i own an apartment builfing which is also my primary residence but at the same time a source of income since i have the other units rented out, do i pay capital gains tax or vat when i eventually sell it. I read somewhere that since it is my primary residence, the tax will be applied to the new primary residence i will be purchasing as long as it is with 18 months from the date of sale. Thanks! More power!

  • Arlene

    Hi Jay,
     puwede bang paki viryfy mo itong title ID 15663 kong still available nasa batangas yong lot
    gusto kong bilihen pls advice nasa Canada kami ngayon nag hahanap ng Residential lot na mauuwean sa pinas nakita ko ito sa foreclosure .

  • janet

    HI JAY,


  • janet

    HI JAY,


  • Antonio_dalisay

    matagal po ba talaga ang forclosed process ng papers kc halos 2years na
    my eamail:    [email protected]

  • rachel

    hi jay, mind if i ask ur number for some questions especially bout this forclosed properties tnx – rachel 

  • Aia Garcia

    hi kuya jay… hindi ko masyado naiintindihan ang ibig sabihin ng foreclosed… kakahanap ko ng lot na available sa taguig bumagsak ako sa site mo… hope if magkaron ka ng time please email me… kung tama pagkakaintindi ko ang ibig sabihin ng foreclosed ay mga property na na closed dhil hindi na kaya bayaran ng present na may ari… anyway please email me agad pag nagkapanahon ka. at kung may alam ka mura lng na foreclosed na khit lot lang sa taguig… 3 kami magkakaibigan sa isang government agency nagtratrabaho as assistant… pwede ba kami manghiram pag-ibig… tapos maghahati hati kami sa isang lote? possible po ba yun? this is my email [email protected] slamat po

  • lourdes

    hi jay,
     Seems i can’t get through you, you’ve got a long stretch of fan mails. It simply shows that foreclosed properties are in demand. You did the right decision. 
    The avida condo @ Boni is a good investment. Can I purchase it through Pag ibig fund?

  • Marilu

    Hello Jay:  I wonder if you can  give me some advise regarding on how to go about on buying a house in Paranaque, I am currently residing in US, my money is currently tied up and not be able to buy in cash.  I will be able to make some dp and monthly payments for now.  How much can I bargain for a house, not familiar with anything. I go home twice a year and really would like to have a place of my own when I go home.  

  • http://pulse.yahoo.com/_UJD2IDONY2GOXYCYCQF5W4P2ZM rochelle

    Good day Jay.  
    I’m interested in real property but i don’t know where and how to start.i’m reading all blog about foreclosure real property. I attended the last TRP last Dec3 at Philamlife.
    Paano po kung hindi naman ako Licensed Real Estate Broker, pwede pa rin ba ako maghanap ng foreclosed properties and have it rent-to-own or atleast ipa-rent?
    I hope you can help me.

  • loperaul

    nice site, jay! keep it up..

  • Maricon Malik
  • john
  • Yuhan

    Hi Jay. I have found your site very helpful. I have been reading your posts since last year.

    I have a situation here. And I thought you would be able to help clear this. :-)

    The facts are:  

    1. In February 2009, I moved in a condo in Quezon City. 

    2. In June 2010, my developer got the loan take out from Pag-IBIG. Then, I started paying the 5-year Pag-IBIG loan amortizations. 

    3. In December 2011, I asked my condo developer concerning real property tax. My condo developer told me that I have to pay the tax to them.

    My queries are:

    1. Am I required to pay the real property tax even before I get the title to the property?

    2. If yes, when should the period of paying the real property tax start? Will it be from the move-in date (2009) or from my first Pag-IBIG amortization payment  (2010)?

    3. Do I have to reimburse my developer for taxes paid on the property from 2009 or 2010 (as the case may be) up until present?

    4. If I have not asked my developer about paying the real property tax, I would not have been required to pay the tax now. Do I really have to pay the tax now — or can I opt to pay the tax when I get the title?

    Many thanks in anticipation of your response.

    More power and best regards.


    • Amigosan

      Hi Yuhan,
      It’s either Jay is too busy to answer or he answered you in private. If you got the answers on your questions form Jay, can you pls share them with us?
      Thanks and good luck.

      • Yuhanabulos

        Hello Amigosan

        Thanks for your message. 

        You may be right — Jay may be too busy at the moment. We respect that. Perhaps, we can wait for a while. I am confident he will provide us some answers soon. 

        Good luck and kind regards. 😉

      • Yuhan

        Hi Amigosan

        Thanks for your message. 

        You may be right — perhaps Jay is a bit busy right now. I suggest we wait for awhile. I am confident he will provide us some answers soon.

        Thanks and kind regards. :-)

        • http://www.livingcashflow101.com/ Ronald Cagape

          Hi Yuhan. Jay likely has a lot of messages. This is a very busy site. I have some experience in real estate so let me give some answers.

          1. Am I required to pay the real property tax even before I get the title to the property? Yes. The local gov’t doesn’t care if you have the title or not. They will levy the real property tax in any case.2. If yes, when should the period of paying the real property tax start? Will it be from the move-in date (2009) or from my first Pag-IBIG amortization payment  (2010)? Most likely, it’s your turn-over date. Check your contract-to-sell. There’s likely a clause there stating when should you pay your real property tax.3. Do I have to reimburse my developer for taxes paid on the property from 2009 or 2010 (as the case may be) up until present? See #2. Check your agreement with the developer.4. If I have not asked my developer about paying the real property tax, I would not have been required to pay the tax now. Do I really have to pay the tax now — or can I opt to pay the tax when I get the title? See #2. Read the fine print. Taxes are not optional. Somebody has to pay them. If it was the developer, they will likely put additional charges on top of the property tax.

  • Carantocelso

    hi jay, i am just planning to buy a house and lot or lot only from a bank(maybe acquired assets), preferably within quezon city and 36 to 50 square meter, but i want it through financing or a rent to own type, i have 200k as cashout then the rest would be through installment. i want to know from you if there are any property you know based on mu preference. thanks


  • laksmigovinda

    hi sir jay.. itatanong ko lang po sana kung ano na mangyayari sa commission ng ahente sa GA SKY SUITE? may pag asa pa po ba itong makuha gayung foreclosure na pala ang SKY SUITE? maari po bang maibigay na ng buo ang natitirang commission ng mga ahente?

    salamat po!

  • Wilma_Lynn

    Hi Jay

    Your website is very informative and this will help a lot of our fellow Filipinos who are new in real estate. I learned a lot from it. Can you recomend a real estate agent for me? I have a property near the Masinag Market that I wanted to sell. It is in a gated community

  • Em Evangelista

     Thanks Jay for this blog, it really helps me a lot to start in real estate investing.

    • http://www.foreclosurephilippines.com Jay Castillo

      You’re welcome Em, thank you also for dropping by!

  • Arnold

    Hi Jay,

    Thank for your sharing your story. A truly inspiring one. I’m just starting out my journey to financial freedom.
    I’ve started investing in stocks and would like to venture as well in real estate. My wife and I are planning to buy a
    6 door rental property. The property is a little bit neglected but we see its potential.
    However, we found out that the structure does not appear in the tax declaration. The structure has been there for 13 years.
    If we do a late declaration, what is the penalty rate?

    Thank you very much.


  • http://www.rcbcsavings.com Dimple

    Hi Jay, Im Dimple del Rosario from Electronic Banking Dept. of RCBC Savings Bank, I find your site very helpful in posting our updated Repo list. Please feel free to contact me for the updated list. Thank you very much. =)

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Dimple! Thanks a lot for the dropping by. Yes, I will be contacting you shortly in a separate e-mail, I am looking for the list for the auction on October 22, 2011. Thanks!

  • Mr. Pink

    Thank you for posting updates on your blogs and sharing your knowledge on foreclosed properties. I would like to inquire about the Pros and Cons of Foreclosed properties? I read in some forums that it sometimes takes time for you to get the title of the house if the property is foreclosed. Been meaning to buy a foreclosed property, but I’m hesitating because I don’t know the disadvantages to buying one.

  • http://www.thebreps.info Bob

    Magandang story. very inspiring for people who want adventure to seek financial freedom.

    • http://www.foreclosurephilippines.com Jay Castillo

      Thanks a lot Bob!

  • lomsody

    Hi Jay,

    It’s a nice website, congratulations my friend.


  • digs

    hi jay im digz, you’ve been a big help to our fellow Filipinos. I need your expert advice on this, my friend decided to sell his house since he will be leaving for new Zealand for good my problem is there were a lot of advises as how I can acquire the property thru loans etc etc and to be totally honest I still don’t have enough cash to outright buy it. The total amount is 1.8M and he left the original title to me. I’m thinking for a housing loan and my options are Pagibig and bank loan. My monthly declared salary is only 40K++. What is the best option for me? Thank you so much

  • Yllen

    Hi Jay,

    You have indeed created a very interesting & informative website / blogs. Thank you for sharing your knowledge and experiences.

    I am an ex-ofw .. got a couple of properties & savings enough for me and my husband’s retirement (i guess) but am not ready to retire as yet .. very interested in everything you write about.. especially about investing in foreclosed properties..

    Am a newbie. How do i get started? Reading your blogs is a good start i guess..

    I may be in a position to invest / buy .. but can’t do the selling (just can’t .. not good at it) .. but of course whatever i buy must go right?

    Let me know if there’s a way we can cooperate.


  • Cecille La Plana

    Hi Mr. Jay,

    I would like to ask what is the legal basis this…

    “Do property owners need real estate brokerage license to sell their own property?” I came across an article that states a property owner do not need one. I can’t find it now when I googled for it. Please help. Tnx.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Cecille, as per Section 28-(a) of the RESA Law IRR, owners are exempted except if they are developers. I have quoted Section 28-(a) below:

      SEC. 28. Exemptions from the Acts Constituting the Practice of Real Estate Service. The provisions of R.A. No. 9646 and the IRR shall not apply to the following:

      (a) Any person, natural or juridical, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her or its own property, except real estate developers who are regulated by and registered with the Housing and Land Use Regulatory Board (HLURB) pursuant to law and other resolutions/regulations such as but not limited to Presidential Decree (PD) 957, as amended, and Batas Pambansa Blg. 220 and their Implementing Rules and Regulations;

  • Jun Gundran

    Kudos Jay!! Keep them coming..

    • http://www.foreclosurephilippines.com Jay Castillo

      Thanks Jun!

  • Myles Bautista

    Hi Jay,

    First of all congratulations for being one of the top 100 Pinoy Bloggers for 2011… I really appreciate your site, it’s very informative. Knowing na may mga taong tulad mo, makes me a Proud Pinoy! Sana dumami pa ang tulad mo para naman umunlad ang bansa natin… Anyways, I’m just a newbie…I started calling banks for their Non Performing Assets may nag-email naman sa akin kaso may mga terms akong di maintindihan like COS Annotated, Closed Dacion, COS Release, Auction but no COS yet… Hope you can help me by explaining it further… Thanks! :-)

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Myles,

      Thanks for the compliment!

      Let me try to explain those terms as follows:

      COS – it means Certificate Of Sale. This means a property has already been sold through a foreclosure sale and the COS is annotated on the Title(the title is updated with the COS details). The date of annotation is usually the date when the 1-year redemption period starts.

      Closed Dacion probably means a property became the payment for a debt in lieu of cash and it is already finished or final.

      COS Release means just that.

      Auction but no COS yet means the property has already gone through a foreclosure sale but the COS is yet to be prepared.

      I hope I have explained the above well. :-)

  • Gemma

    Hi Jay, I came across this blog since I wanted to buy investment property in the Phils. I am looking at a lot in Novaliches and currently thinking about if I should buy it or not. I saw your comments below that you seem not interested in Novaliches area. Any reasons why? Just want to make sure I’m not making a mistake in buying and your idea would be very useful. I’m an OFW and really don’t have much visibility in the Phils real estate but a good friend of mine is helping me out to inspect and decide whether its good or not. I just want to get confirmation from experts like you. Would you also let me know where to start as far as websites are concerned to learn about more on RE in the Philippines.
    Thanks in advance for your reply.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Gemma, the only reason why I don’t like to invest in Novaliches, Caloocan, Bulacan, Malabon, etc is the distance. Even when we lived in Marikina, investing in these places would be a bad idea for me because of the time I would waste to travel to inspect prospective properties and maintain them if I do buy them.

      However, If you live in Novaliches, I see no problem for you to focus on that area. Good luck!

  • Danny Tan

    Hi. My wife’s family owns a prime property in Cebu City. Recently, a friend of mine told me that a foreigner is interested in developing the property through a joint venture or long term ground lease. Which do you think would be better? If we opt for ground lease, how do we determine the rental/lease rate? I personally would opt for the lease with surrender clause for the building after expiration of lease. Do you know of anyone expert on ground leasing that we can get just in case.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Danny, it would really depend on the numbers and your risk appetite. Having a JV would appear more profitable but the risk here is if people don’t buy the units, you won’t get your money. On the other hand, leasing the land would be okay and less risky but it would certainly be less than that of the JV, although you do get to keep the improvements at the end of the lease term.

      I would recommend you look for a real estate consultant who has ACTUALLY DONE JV deals, like Engineer Enrico Cruz and others like him. I myself have had no experience doing JV’s yet. Goodluck!

  • Erwin s. Francisco

    sir jay,
    good am! I’m Erwin S. Francisco an OFW working here in Singapore.i’m interested in real property but i dont know how to start.i’m reading all blog about foreclosure real property. Also i want to ask cause i buy a lot with improvement in pampanga to be paid in 3 years .paying the amortization every month is so high that there only enough money left for me to spend. i’m thinking if its a good investment or not cause it taking money for me every month. i hope you can help me.


    Erwin S. Francisco

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Erwin, it really depends on your goals. In my case, my goal is to have positive cashflow from the start so I would rather not have an investment like yours. My advice would be to have it rented out so that it can at least offset some of your monthly amortizations. i hope this helps.

  • http://trader202.multiply.com/ joven

    I do online trading at PSE for years now, but I have no clear idea exactly between stock market & real state differences and all I know that stocks are more controlled than any other investment as long as you’re in the right trend (bullish).

    Very nice entries sir, keep posting.. As a newbies, I will set time to learn from this site now on.

    • http://www.foreclosurephilippines.com Jay Castillo

      HI Joven, thanks for the comment! Actually it’s a good idea to diversify and have investments in different assets classes like stocks and real estate, although I believe one has better control with real estate, meaning you can actually do something to help improve the value of your property(by improving it, etc.).

  • http://[email protected] malourdes gernan

    very interested,would like to ask about cmp lots if you know the developments in c6 road brgy. napindan, taguig city, plsgive me an idea what is cmp lots. thanks.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Malourdes, I’m not really sure what cmp lots are. Same goes for the developments in C6. Would you be able to tell me more about this so that I can ask around? Thanks!

  • Bong

    Hi Jay,

    I would like to take this lead of informing you of a couple of initiatives that would have a big impact on your business.

    How can I contact you aside from your website.

  • http://benjsports.com benjie

    Jay, i like your site. It’s informative. This would be of great help to a lot of people.

    • http://www.foreclosurephilippines.com Jay Castillo

      Thanks Benjie! You can also do this in Davao… =)

  • Norma A.

    Hi Jay,

    I have some concerns regarding hiring you as my real estate agent. Please reply back on my email just to be confirmed.



  • http://www.realtywebsigns.com Toti Patrimonio

    Congratulations to a very successful blog.

    I am a web developer and a CPA by profession. I have emailed something to your email add for collaboration.

    Thank you for creating this blog.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Toti, thanks for the kind words! Got your e-mail and I will reply shortly.

  • http://businessaccent.com Vic of BusinessAccent


    Thanks for sharing this information. You are really good in this field. I am proud to be a pinoy like you. I’ll be returning to this site regularly. Keep up the good work.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Vic, thanks for the compliment! Coming from you, it’s quite an honor, I have been a lurker at your site since late last year… hehe. Thanks for dropping by!

  • http://www.budsdoy.multiply.com joelrey

    hello nice web site!

    im looking for a house and lot foreclosure from the bank. loaction in manila.


    dubai UAE

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Joelray, thanks for the compliment. I really need to find time to help you and others who are also looking for foreclosed properties. I might even consider getting my own agents for this. At the moment, I’ll keep an eye out for properties for you. Thanks for visiting!

  • http://www.budsdoy.multiply.com joelrey

    nice website help a lot!im now working here in dubai UAE.im looking for a house in lot in manila. ty

  • Sonny

    Hi Jay!

    Meron akong balak bilhin na 12.5Hectares na forclose agri land sa Bangko. Paano to ma transfer sa name ko na more than 5hectares raw ay d pwede ma transfer or d pwedeng benta? Wala bang exemption ang bangko sa rule na ito?

    Maraming Salamat.

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Sonny, unfortunately, RA6657 really sets a limit to 5 hectares for the owner and 3 hectares for each child. if you have 3 qualified children then you can have that property transferred to your name, at least that’s my interpretation of the retention limits on RA6657. I’ll paste it below for your reference:

      SEC. 6. Retention Limits.- –Except as otherwise provided in this Act, no person may own or retain, directly, any public or private agricultural land, the size of which shall vary according to factors governing a viable family-sized farm, such as commodity produced, terrain, infrastructure, and soil fertility as determined by the Presidential Agrarian Reform Council (PARC) created hereunder, but in no case shall retention by the landowner exceed five (5) hectares. Three (3) hectares may be awarded to each child to the landowner, subject to the following qualifications: (1) that he is at least fifteen (15) years of age; and (2) that he is actually tilling the land or directly managing the farm: Provided That landowners whose lands have been covered by Presidential Decree No. 27 shall be allowed to keep the area originally retained by them thereunder ; Provided, further, That original homestead grantees or direct compulsory heirs who still own the original homestead at the time of the approval of this Act shall retain the same areas as long as they continue to cultivate said homestead.

      I suppose banks are not exempted from the agrarian reform law. I hope this helps. Thanks for visiting!

  • Hazel

    Hi Jay. I am currently looking for a house to buy – could be thru pag-ibig housing loan or rent to own. Do you have any leads? I would prefer somewhere in Taytay/Cainta, Rizal area or Meycauayan/Marilao, Bulacan area. Do you have any leads?

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Hazel, will let you know if I come across any in the areas you mentioned. Thanks for visiting!

  • mangjun

    …hello Jay, i just want to know the abc’s of rent-to-own. I am in the process of selling my condo unit in las pinas, and since my prospective buyer won’t be able to pay in full, i am considering the above option. is there a way for me to send you (email) the details so as to get a good advise from you whether i’m in the right track? many thanks.

  • http://www.foreclosurephilippines.com Jay Castillo

    Hi Rey, thanks for visiting!

  • irene

    hi jay,

    could you give us an idea on how your property portfolio looks like currently?

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Irene, I currently have 2 house and lots but we live in one of them. The other is under a rent-to-own contract. I have a pending property that is still being occupied by the previous owner after more than a year, which explains why I strongly advice others to stay away from bank foreclosed properties that are still occupied by previous owners. I am also part owner of our family’s subdivision in Caloocan and I really look forward in helping to turn it around and make it profitable again but first things first, I have to get at least 3 more passive income generating properties for myself in order for me to be financially free and have the time to do so.

      • irene

        what areas are you looking at investing? Do you have any advice?

        • http://www.foreclosurephilippines.com Jay Castillo

          Hi Irene, I basically target the whole Metro Manila except Novaliches, and the CaMaNaVa area. In what particular area in foreclosed real estate investing would you need advice on?

          • irene

            Hi Jay,
            Why not Novaliches and Camanava?

            I’m targeting areas with high rental yield and good tenant demographics.

            • http://www.foreclosurephilippines.com Jay Castillo

              Hi Irene, they are too far. Maybe I’ll consider these areas when I go full time into real estate investing so I’ll have the time. I like your strategy!

  • http://www.gensanexchange.com rey cartojano

    hi, jay, nice and very informative website, just dropping by…

    • http://www.foreclosurephilippines.com Jay Castillo

      Thanks Rey!