The Maceda Law (RA 6552) – Read the full text and know your rights…

ADVERTISEMENT

Do you want to know your rights as a real estate investor, or simply as a real estate buyer who is making installment payments?

The first logical step would be to know what law applies and what that particular law contains, which in this case would be the full text of Republic Act No. 6552, which is more popularly known as the Maceda Law.

The full text of RA 6552 follows.

My Trusty Gavel

Know the law and know your rights (photo credit: steakpinball via flickr)

REPUBLIC ACT NO. 6552

REALTY INSTALLMENT BUYER PROTECTION ACT

AN ACT TO PROVIDE PROTECTION TO BUYERS OF REAL ESTATE ON INSTALLMENT PAYMENTS

Section 1. This Act shall be known as the “Realty Installment Buyer Act.”

Sec. 2. It is hereby declared a public policy to protect buyers of real estate on installment payments against onerous and oppressive conditions.

Sec. 3. In all transactions or contracts involving the sale or financing of real estate on installment payments, including residential condominium apartments but excluding industrial lots, commercial buildings and sales to tenants under Republic Act Numbered Thirty-eight hundred forty-four, as amended by Republic Act Numbered Sixty-three hundred eighty-nine, where the buyer has paid at least two years of installments, the buyer is entitled to the following rights in case he defaults in the payment of succeeding installments:

(a) To pay, without additional interest, the unpaid installments due within the total grace period earned by him which is hereby fixed at the rate of one month grace period for every one year of installment payments made: Provided, That this right shall be exercised by the buyer only once in every five years of the life of the contract and its extensions, if any.

(b) If the contract is cancelled, the seller shall refund to the buyer the cash surrender value of the payments on the property equivalent to fifty per cent of the total payments made, and, after five years of installments, an additional five per cent every year but not to exceed ninety per cent of the total payments made: Provided, That the actual cancellation of the contract shall take place after thirty days from receipt by the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act and upon full payment of the cash surrender value to the buyer.

Down payments, deposits or options on the contract shall be included in the computation of the total number of installment payments made.

Sec. 4. In case where less than two years of installments were paid, the seller shall give the buyer a grace period of not less than sixty days from the date the installment became due.

If the buyer fails to pay the installments due at the expiration of the grace period, the seller may cancel the contract after thirty days from receipt by the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act.

Sec. 5. Under Section 3 and 4, the buyer shall have the right to sell his rights or assign the same to another person or to reinstate the contract by updating the account during the grace period and before actual cancellation of the contract. The deed of sale or assignment shall be done by notarial act.

Sec. 6. The buyer shall have the right to pay in advance any installment or the full unpaid balance of the purchase price any time without interest and to have such full payment of the purchase price annotated in the certificate of title covering the property.

Sec. 7. Any stipulation in any contract hereafter entered into contrary to the provisions of Sections 3, 4, 5 and 6, shall be null and void.

Sec. 8. If any provision of this Act is held invalid or unconstitutional, no other provision shall be affected thereby.

Sec. 9. This Act shall take effect upon its approval.

Approved: August 26, 1972

Up next: Maceda Law salient features

Of course, this post will not be complete without covering the salient features of the Maceda Law. This will be covered in the next part of this series. Please watch for it.

ADVERTISEMENT
APL Builders and Planners - We give shape to your dreams!

To our success and financial freedom!

Jay Castillo

Real Estate Investor

PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

PS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead

 

Last updated by on .

Never miss an article, subscribe now and get email alerts when we publish new foreclosed property listings and real estate investing tips.


About Jay Castillo

Jay is the founder of Foreclosurephilippines.com where he shares real estate investing tips and foreclosed property listings. He was an I.T. Manager that loved to make things work, which is exactly what he did when he crossed-over to Real Estate Investing and Internet Marketing. He is also a licensed real estate broker with PRC License # 3194 ... [Continue reading]

Get more from Jay in Facebook, Google+, and Twitter.

  • Tophe Sailog

    Sir jay..may makukuha po ba ako na refund sa kinuha kung bahay kahit na di ko pa natapus ang downpayment na aabot sa 15 months?nkapag hulog na po ako ng 6 months sa developer pero nag decide ako na pa cancelled pero sabi nila wala daw po ako makuha dahil wala daw 2 years ako nkapaghulog sa kanila..may habol po ba ako don sa mga nahulog ko..130thousand din aabot po..salamat..

  • Euan

    Dear Sir,

    I have a unit sa empire …nahulog ko po 20% down payment (phph200thous) for one year pero before mag start po ng installment na 80% nawalan po ako ng work at informed po ang agent ko. hanggang nakarecieved ako ng sulat ng computations na may mga penalties nako…sabi ko hindi ko n tutuloy …sabi po ng agent wla na daw po akong marerefund? tama po ba un…sana mabigyan po nyo ako ng advise kung may habol po ako s perang pinaghirapan ko abroad..

    thanks

  • Leah R

    Nkapagbayad po ako ng 2 years plus 20% downpayment sa dmci amounting to P985,000.00 Ngaun po nagsubmit na ako last month ng back out,nailabas na ho ang refund last week amounting to P164,000 lang :(
    Akala ko ho ba according sa Maceda Law i am entitled to 50% refund,bakit sobrang baba ng binibigay sakin ng DMCI??
    wla ho akong late payment sa amortization,lahat paid.Pati sa association dues,water meter at electricity paid lahat.Tinanung ko ho ang project manager ng DMCI kung sa papanong paraan nila kinompute ang refund wala sya sakin maibigay.Kung magrerequest daw ako ng break down,contest na daw yun sa legal team.Please help,nanlumo po talaga ako sa binibigay nilang refund.Ano pong gagawin ko? I have 15 days to sign kung agree ako sa refund.

    Maayos at malinis ho ang unit ng iniwan nmin,tinirhan nmin sya ng 2 years pero bihira lang po kami sa unit so iniwan namin syang parang halos brand new except sa konting gasgas sa wall (painT) dahil ho sa headboard ng bed.

  • jmid

    hi sir jay,
    ask ko lang po kung ano po ang dapat kong gawin…
    as soon as naka down na po ako and cash out na din sa developer, tapos yung remaining balance po eh naka loan na sa bank.
    nung january 2013 ininform na po kami for move in. ngayon po since ofw po ako inihabilin ko po sa kapatid ko pero hindi nya po sha naka punta sa site until nitong september 2013 umuwi ako ng PILIPINAS at ako na po mismo ang kumuha ng key sa main office.
    ngayon po, nung pag punta ko sa BAHAY…. madami pong sira, biyak biyak ang dingding, natatanggal na pintura at marami pang iba… sa madaling sabi wala na sa magandang kondisyon ang bahay at halatang may tulo din pag umuulan kasi may lumot din sa may ding ding..
    gusto ko pong malaman kung may habol pa po ako sa developer…

    sobra pong nakaka disappoint ang pangyayaring ito… after paghirapan ito lang ang madadatnan ko.

    thankyou po.

  • Mariz

    Hi Sir, I would just like to ask re the Maceda Law? When you say at least 2 years of installment, what does it mean? I purchased a house and lot and paid an outright 10% dp, then remaining 10% in just 6 months. Now I am in my monthly amortization stage for 3 months but there has been some change in priorities so I intend to give up the house. Can my situation qualify for a refund in the Maceda Law or not?
    Thank you so much!

  • Pingback: Philippine Property Outlook Q2 2013 - ForeclosurePhilippines.com

  • roberto ortega

    sir pwede ko pa bang apply ang maceda law kung ang house and lot na binabayaran ko ay nasa banko na po. nakapag bayad na po ako ng mahigit sa 700 thou. mag 2 years na rin ako nag babayad sa banko. minadali kasi kami ng developer na ipasok na sa banko. noong una ang sabi sa amin pwede naman daw sila sa pag ibig. may problema pala ang subd. sa pag ibig kaya tuloy napilitan kami ipasok sa banko. sa ngayon nahihirapan na po ako mag bayad.natatakot lang po kami mag asawa kung tuloyan hindi na kami makabayad. mahahatak lang ng banko. may nakapag sabi sa akin tungkol sa maceda law. kaya po ang tanong ko pa ay kung nasa banko na may pag asa po bang ma aply ang maceda kahit papaano ay meron maibalik sa amin. salamat po hintay ko nalang po ang sagot sa email ko. muli salamat pong muli…

  • Jenaro Cabali

    Sir, good Day! I would just like to have an expert advice, if me and my other three siblings have the right to refund our money from our developer AVIDA, if we believe we have been misinformed.
    Last November 2012, we were approached by an agent from AVIDA and were offered to purchase a unit at Nuvali. After seeing the unit we were amazed and have interest in investing for our family. We were asked to make a reservation fee of 10K each, but before we paid the reservation, we asked them first if our current income is enough to be approved by the bank, secondly we also asked them to send us computation of the monthly amortization just to know if we have the capacity to pay the amortization before we pay the reservation, they replied and this was documented thru email. At first they have given us computation of an 20 / 80 scheme were we have to pay 20% and the 80% will be loaned at the bank. From their computation, we told them that we have no savings to pay the 20% down payment, so we told them that we cannot continue to purchase the unit. they have offered us another scheme which is 5 / 95 wherein the 5% is payable in 6 months. they also gave us copy of computation for the monthly amortization coming from PNB the bank who will offer us the loan. base on the computation, we have to pay 14K for the first 6 months which is the down payment for the 5% then 12k monthly from the 7th month till we finish the payment of amortization until the 20th year. Base on the computation they have shown us, we were encouraged to pursue our dream, we made the down payment of 10K then immediately issued them PDC of 14k for 6 months from December to May. the checks were all good and have no problem and they were able to collect it but after the 5th month,we were advised that the bank has made a mistake in giving us the computation, not included on the computation were the processing fee of 45 k outright cash and other fees. WE WERE NOT TOLD ABOUT THESE. AVIDA then gave us another computation, but base on the computation we now have to pay 22 k monthly for the first three years which is too much and we believe is not anymore feasible against our income. we only decided to invest and paid the reservation fee and issued PDC’s because what we know is that that we will only pay 12k for the monthly amortization. We went to AVIDA office in Alabang and had a meeting with them and we were told that it was a bank error. they told us that they will help us. More sadly we had advised AVIDA that we will hold the 6th month check payment until the issue is settled and were given reference numbers conforming the holding of checks. Giving us more burden they have deposited the checks and all checks bounces. THE Y ARE NOT PROFESSIONALS IN ALL DEALINGS. My two sisters who were a doctor and a dentist, me and my other brother who were both professional on our fields feel that we have been scammed. Also, I dont know how the bank approved our loans if my two sisters and I have problem with our documents, wherein my 2 sisters both separated from their husband but not legally but still they approved it that they knowing it that my sisters will be having problem with their papers, and I have credit issues on my credit card
    We now would like to ask for your expert advice if we have the chance to refund our hard earned money which now is 80K collected from each and one of us. Hope to hear from you the soonest. Thanks in advance!!!

  • http://goggle lily

    sir good day po ask ko lang po may nabili po akong rigths ng house and lot na hindi nabayaran ng 1st and 2nd owner then ako po ung huling nakabili ng rights at na full paid ko na po ung lote now ng makuha ko ung title naka name sa 1st owner need ko daw po bayaran lahat ng taxes bago ko mapalipat sa name ko ung title napakali po ng inabot ng capital gains tax kaya po nahihirapan akong ilipat sa name ko ung title talaga po bang need ko i shoulder ung buong bayarin ng mga taxes mula pa ng kinuha ng 1st owner ung lupa sa natioanl home mortgage ko po un itinuloy bayaran na sa pagkakaalam ko ay hawak ng ating goverment ask ko lang po dapat po bang i shoulder ko angnapakaling bayarin sa BIR?salamat po Godbless.

  • jennifer anne loyola

    Ask ko lang po if nsa batas na if matapos mabayaran ang down payment sa isang property, dapat po ba yun trn over na? kasi po naguguluhan kmi eh, we bought a house and lot unit Sa Amadeo under Asia miles, were done na with the down payments, until now wala pa kmi napipirmahan na contract or any rules so pano po nmin malalaman kung kelan i tuturn over ang bahay, and if ever po i cacancel nmin may makukuha ba kmi kasi almost 500t na nahuhulog ng mama ko.

  • http://www.foreclosurephilippines.com sun

    hi sir ask kulng po kung anu dapat namin gawin nagpa receve po kami ng 10k sa hamilton homes sa cavite. ngaun po nagkataon ung nabundol quh png bata kailangan po operahan ang sussgets namin mag.asawa refund ung reservations fee ksi po nung may.19 lang kami nagpa reserve taps pagka lunes ng gabi nag decide kmi refund nalng ung reservation fee namin ksi gagamitin namin sa hospital, ngaun po sabi collector ng developer sa dun sa subd ndi na dw pwde refund ung reservations fee namin dahil na iforward na po nila sa main office ng developer nagulat po kami bakit nasa developer na ni requiments po wala kami pinasa sa developer kahit po birth or id pics ni isang requiments po wala kaming bnigai sa knila nung merkules po bumalik aqu ndi na dw tlga marefund ung 10k ksi nandun na ung form ng agrement sa main office nila sabi quh bakit po gnun ndi po OR ang bnigai nio skin at provincial reciept lng po eto bigla ko pong nakita sa mesa nia ung form na fillupan quh nung sunday ibig.sabhn po nasa knila pa ang pera wala pa po sa office nila, at sinabi skin pumunta dw aqu sa broker at nandun dw ung pera namin pag dating quh po sa broker galit po sila skin bakit dw po aqu nagpunta dun nsa developer po dw ung pera namin pinag papasahan po nila aqu. pagka taps po sabi ng broker skin maam gus2 mu sa iba ka nalng kmuha ng property ibigai namin ang 5k reserve namin ung 5k. nagulat po aqu sir parang iniipit nila aqu nakalagai po sa reciept quh valid for 7days kaya naiisipan ko po lumapit sa NBI or sa tulfo or sa HLURB di quh lam sir kung anu ga2win pinaghirapan po namin ung 10k arw arw magbayad ng interest dhil inutang po namin un sa bombay sana po mabigyan nio aqu ng advice kung anu dapat gwin!salamat po.

  • Shi

    Hi SIr!

    I would just like to inquire if the closing fees are included in the maceda law. I already paid for the closing fees which are only due on its turnover date but chose to pay it on installment. Will I get the 100% of such closing fees upon cancellation or also 50%?

    Another thing, my unit is due for turnover last January 2013, but they only dressed up the unit this April. Will the computation of penalties start on January 2013 or after the acceptance of the unit?

    Thank you very much.

  • meldy

    Hi Sir Jay,
    good evening po,
    naka pag loan po sa pag-ibig ng housing na approved ito 1997 since then naka pag bayad naman ako but nag karon po ako ng financial problem at mag 3 years na di naka bayad sa pag ibig. Sir ako po ay may kaba na baka palayasin na kami ng pag – ibig protected po ba kami ng Maceda Law in this case? 25 years to pay po yong low cost housing na naloan ko sa pag-ibig at mortgage loan po ito. Ano po kaya ang magandang gawin ko kasi as of now di ko pa rin kayang e update ang arrears ko?Sana sir matulungan nyo ako at masagot nyo po ang aking mga katanungan. Thanks a lot.

  • johngie

    hi! good pm… inquire ko lang po. contract ko inhouse financing is 5 years to pay… 12 months to pay yung 20 % DP.. tapos ko na po bayaran yung DP last year pero wala pa unit.. then nag deposit sila 5 cheques ko with interest… dapat ko po bang bayaran yung interest? since hindi ko nman kasalanan kung nagka problem ang developer nila? pls reply po. thanks :

  • Raghav

    Its not Buyer Protection Act its name should be Buyer Humiliation Act as its protect the Developer only and its says buyer will get 50% of his/her hard earning money back. Its out dated and anti buyer law. Real Estate prices most of time go up not down so why should developer refund 50% of buyers payment while developer charge huge upto 24% interest if buyer didnt pay its payment on time. All buyer should fight against this law which give right to developer to humiliate the buyers. If someone not paid then that unit developer never sale in 50% down payment so why refund is 50%.

  • jake

    hi po sir Jay! We really need legal advice. from cavite po ako. kmi po ay nka bili ng unit sa isang private developer na after 2 yrs ng pag babayad nalaman namin sa aming bgy na ifoforclose ang aming property ng isang Government institution. Ang dahilan ay naka sanla pla ang aming mga bahay (366 units) sa nsabing institusyon. at dahil sa hindi nkaka bayad ang nsabing developer sa knila ay ifoforclosed ang aming property. kmi po ay nataranta at natakot sa balitang aming narinig kung kayat hindi na po kmi nag bayad sa nsabing developer. After a year pinag stop payment na po kmi ng developer. Nag start na po ang kaso. Kmi po ay nag buo ng grupo at kumuha po kmi ng lawyer at nag habol pra saming karapatan sapagkat wla po kaming ka alam alam na ang nabili naming bahay ay naka sanla nga. Nanalo po kami sa HLURB at sa Office of the President. Nag karoon po ng core grp na mag rrepesent saming grupo habang tumatakbo ang kaso. after 9 yrs. ibinaba po ang disisyon. Nagulat po kaming lahat ng ang maging disisyon nila ay IUPDATE ang aming mga accts sa nsabing developer. Para po sa kaalaman ng lahat hindi po kmi naiinform ng maayos ng mga nsabing core grp namin na siya sanang kakampi nmin sa laban na e2. Kmi po ay hiningan nila ng 5000 pesos kada unit owner na umabot pa 6,500 sa dahilang sila nga po ang mag aasikaso at mkikipag usap at mkikipag negosasyon don. Para po eto sa knilang paglalakad, pagkain at mga kakailnganing pang xerox ng mga papeles para naman po ipamahagi saming mga miyembro nila. ang grupo po namin ay nahahati sa 3 sektor FULLY PAID, UPDATED at PARTIALLY PAID. Nung una po bawat sektor ay may representative. Sa mga pag titipon na naganap nsabi po ng aming butihing abogado na maari kaming humiling ng anong bagay sa dveloper sapagkat natalo nga po namin sila sa kaso. Nais niya rin pong paabutin ang aming kaso sa pinaka mataas na hukom kung hindi susunod sa kasunduan ang nsabing developer. Hindi na po siya nakakasama sa court of appeals dahil nga po mediation na eto. Sa kasamaang palad, binawian po ng buhay ang aming abogado nun lamang nakaraang taon. Sa huling pag titipon na nakasama namin siya sinabi niya samin na malaki ang chansang manalo sa pinaka mataas na hukom sapagkat wla naman talaga kaming kasalanan. kayo ay inosente sa mga pangyayari at may karapatan kayong mag habol. “Kung matalino sila na mga kalaban natin dpat mas matalino kayo sa knila”. Ibalik po natin yung sa pag baba ng desisyon sa court of appeals. Wla po kaming ka malay malay na mga members na may final disisyon na pala sa court of appeals. May nakapag sabi po sa aking kapit bahay na isang concerned fully paid na papunta dw po ang core grp sa court of appeals dahil may disisyon na. Sa madaling salita po yung sinabihan ng isang fully paid ay dali daling nag punta sa maynila sa court of appeals upang malaman ang desisyon. Gulat na gulat po sila na ang disisyon ng judge ay i UPDATE ang mga accts. Nag tanong po ang aming ksma kung bakit naging ganun ang desisyon. Dahil sa naging maingay sa loob at nag karon ng diskusyon sa pagitan ng core grp at ng mga miyembro nag disisyon ang judge na mag usap usap kaming muli dahil kitang kita po na wala kaming nalalaman sa mga napag uusapan nila. Dto pa lang po ay mapapansin niyo na na inililihim na ng core grp sa knyang mga miyembro ang knilang mga napag uusapan. Sa labas po ng court of appeals hinamon ng presidente ng core grp ang aking kasama na ipatawag ang lahat ng miyembro at tipunin. sa madaling salita tinaggap po ng aking ksma ang hamon. Nung meeting na po hindi inaasahan ng lahat na darating ang presidente ng core grp. Dumating din po ang aming lawyer sapagkat nangangailangan po kmi ng knyang payo dahil sa ginawa ng aming presidente. Subalit naki alam na nmn po ang presidente ng core grp samin. Halatng halata na pinag tatakpan niya ang kanilang ginawa. Npaka lungkot ksi siya yung inaasahan nming kasama nmin numpla pang sariling interes lang nila yung inilaban nila para sa knilang mga titulo. Tumakbo pa rin po ng isang taon ang kaso sa court of appeals dahil sa mga delays ng magkabilang panig at hindi pag kaka sundo. Sa mga meetings hiningan po kmi ng draft pra sa mga hiling namin pero wla po silang inuprubahan. Ang developer pa rin po ang nasunod at alam po namin na ang core grp pa rin ang naglaglag samin dito upang pwersahin kaming mag bayad. Sa ngayon po ay pwersahang pinag babayad kmi ng 20% ng developer dahil yun daw po ang inaprubahan ng government institution. hindi naman po kmi mkakapayag na ganun na lng ang gawin samin sapagkat kung tutuusin kung merong may karapatang mag demand dito ay kaming mga niloko nila at hindi sila na mga manloloko. Last March 5, 2013 nagkaron dw po urgent meeting between our core grp and the developer. nagkagulo po at natakot kming mga members dahil sa sinabi ng isa nilang ksma na mag babayd na dw po ng dp na 20% this coming March 15. Nagulat po kming lahat. And early in the morning ng March 6, the following day may meeting dw po sila ulit with 2 parties the government institution and the developer. Sa kagustuhan ko pong malamn kung para san ang knilang pag memeetingan ay nais ko pong sumama para po may representative kaming mga partially paid. pero hindi po pumayag yung isa nilang kasamahan na nkipag usap sakin habng ang knyang mga ksma ay nag sisipag ayos na para sa pag alis nila ng 12:30 ng tanghali dahil alas 2 ng hapon ang meeting sa government institusyon. Hanggang dumating ang isa niyang kasamahan at humahangos na nag sabing maari dw po akong sumama. kayat nag madali po akong nag ayos at hindi na nkakain ng tanghalian. gayun pa man mukang wla po tlga silang balak na isma ako dahil iniwanan na po nila ko at hindi sinabing nsa van na sila. habang akoy nag hihintay nman sa labas at tinatawagn kung san ang tagpuan. dahil sa pangugulit ko sa katatwag ay sumagot yung isa nilang ksma at pinag madali ako na papuntahin don sa kinaroroonan ng pampublikong van. Don po ay napag alaman ko na humihingi po sila ng pambayad para sa processing fee pra po sa restructuring. Ang sabi po nila nsa MACEDA law pa din dw po yung sinusunod nila pero parang sobrang agrabyado po kmi dito. e2 po and desisyon nila sa court of appeals. restructuring granted. mamimili kmi sa 5 yrs to pay with 16% interest and 10 yrs 18% per annum. 50% off ng penalty don sa 21% per annum before, IN-HOUSE financing sa developer. 1,500 php for processing fee on march 12 and 20% dp on or before march 15. Nagulat po ako. kaya po nag react po ako dahil wla po tlga kaming ka alam alam sa mga nangyayari at mga naging disisyon. Nag ka gulo pong muli at may nag sabi na hindi na dw sila papayag na ma delay pa. pero napaka unfair po e2 para saming mga partially paid. nakiki usap din po ako sa representative ng developer pero binabastos lamang po ako. Sinabi niyang gumawa na lng dw ng sulat as grp kung hihingi kami ng extension para sa pag babayd ng dp na 20%. nag patawag po kmi ng meeting pang kalahatan para po malaman ng lahat. marami pong nagulat at sumama ang loob. malinaw po ang pagkaksabi “GUMAWA NG SULAT PARA SA GRUPO”. pero sa meeting po sinabi ng presidente na 10 days lang ang iginawad ng developer samin na extension para sa pag babayad na sadyang ikinagulat naman po ng aking kasama. Wla po ako sa pa meeting namin kasi po may nilakad po akong importanteng bagay pero nasabi ko naman po sa aking ibang ksamahan kung ano ang napag usapan sa meeting na dinaluhan ko. kaya po alam nilang gagawa talag ng sulat at walang arw na sinabi. Dto po, muli na kaitang kita ang pagiging bias ng developer sa presidente ng core grp. sila lang po ang nag kaka intindihan. Ayw din po nila kaming kausapin kung hindi alam ng presidente ng grupo. Pinag babwalan din po kaming mkipag usap sa ahensya ng gobyerno. Npaka rami po naming katibayan sa ginagawang pakikipag sabwatan ng presidente ng grupo namin sa kalaban na hindi ko na po maisiwalat dito sapagkat napaka haba na po talaga. sa madaling sabi mas mdami pong sumang ayon samin at maraming galit sa presidente. gumawa po kami ng sulat. sa pag gawa po nmin ng sulat binigyan po nila kami ng pag gagayahan at kailangan dw po ng pirma ng presidente ng grupo bago ipasa sa dveloper kinabukasan. ng matapos ang nsabing sulat hindi po ito pinirmahan ng presidente dahil may mga gusto pa silang idagdag dapat dw po may mga pirma na ng mga tao na gusto ng pag papa extend ng payment. sinabi po namin meron na pero attachment na lng po na nsa yellow paper. hindi po pumayag ang presidente ng core kasi daw po utos lang sa knya yun ng developer at yun dw po ang dpat nming sundin. galit na galit na po ang bawat isa sa amin sapagkat bukod sa dis oras na ng gabi sadyang kitang kita na ginagawa kaming mga mang mang ng aming presidnte. kaialngang kailangan po na maipsa namin kinabukasan ang sulat. sa kagustuhan po naming matapos ito ay tulong tulong kaming nag ayos muli ng sulat para sa dveloper subalit wala na pong pirma ng presidente. dinala namin ang sulat sa kanilang tanggapan subalit hindi po kami hinarap nung tao na naka talaga pra dito sapagkat wala dw pong pirma ng presidente. at kahit anong paki usap ang gawin sa secretarya niya upang siya ay maka usap hindi po tlga kmi pinag bigyan. lulugo po kaming umuwi. binago na naman po ang sulat. at kinailngan talagang pirmahan ng presidente. sa pag kakataong ito alas 9:30 ng gabi ay pumunta ang ksma nmin sa knya pra papirmahan ang papel subalit sinabi ng kanyang asawa na wla pa siya. lumipas ang isang oras 10:30 ng gabi bumalik don ang aming ksma sa knailng bahay upang papirmahan muli. sinabi po ng aswa at ng knyang anak na tulog na dw po ung presidente. samantalang inaabangan po namin siya sa daraanan niya hindi po nmin siya nakita. iniwan po ang papel don upang mapirmahan na at mdala ng umagang umaga sa tanggapan ng dveloper. talaga pong pina tigasan niya na hindi niya ppirmahan yung aming sulat. sinabi niya po kasi sa isa nming ksmahan na hindi niya yun ppirmahan. napaka walng puso ng taong ito. napakaraming tao ang mawawalan ng bahay na nanalo naman sa kaso na kundi dahil sa knyang pakikipag sabwatan sa developer ay maaring mas nasunod ang aming mga inihain. napaka habang kwento at salaysayin ito. nais ko lang po maishare sainyo. kinabukasan naibigay po nmin ang sualt sa developer pero may meeting na po ulit ang developer ng arw na yun sa government institusyon. hindi po kmi ulit kasama kagndahan lng hindi po natuloy ang meeting nila at iseset hanggang march 15. subalit kaninang umaga may txt pong na tanggap ang isa naming kasama na nag sasabing 20 days daw po ang ibinigay ng government institution samin. yun daw po ang na aprubahan ayon sa pag uusap ng presidente ng grupo namin at ng developer. agad po naming ipinarating sa institusyon ng gobyerno ang txt msg na natanggap namin. nsabi po nilang wala pa silang napag uusapan tungkol dito. isa na naman po itong pang loloko ng aming presidente at ng developer kinakasangkapan nila ang sangay ng gobyerno. daglian dw pong nag email ang isa sa tauhan ng gobyerno sa dveloper upang sagutin ang mga katanungan namin sa nkarating na mensahe subalit wala po silang sagot hanggang kninang hapon. KMI PO AY NANANAWAGAN SA LAHAT NG MAAARING TUMULONG SAMIN SA GINAGAWA NG DEVELOPER AT NG PRESIDENTE NG AMING GRUPO. SOBRANG PAG PAPAHIRAP NG ISIPAN AT DAMDAMIN NA ANG NARARANASAN NMIN DITO. IKINAMATAY NA NG ISA SA MGA KASAMA NAMIN ITO SA SOBRANG PAG IISIP. DEPRESYON, STRESS, GALIT NA PO ANG NARARAMDAMAN NAMIN NA KUNG TUTUUSIN WALA PO KAMING KASALANAN PERO NGAYON KAMI PO ANG GINIGIPIT. ANG TANGING NAGING KASALANAN PO NAMIN DITO AY BUMILI KAMI NG BAHAY PARA SAMING MGA ANAK NA MATATAWAG NAMING TAHANAN NA HINDI NAMIN INAKALANG NAKA SANLA PALA. ITO PONG SUBDIVISION NA TINITIRHAN NAMIN AY LOW COST HOUSING. ISANG NAPAKALAKING SUBDIVISION PO ITO SA CAVITE. WALA NA PO KAMING TIWALA SA DEVELOPER AT PRESIDENTE NG AMING GRUPO. NAIS LANG PO NAMING MALAMAN NA KUNG HINDI NA PO KAMI MAG BABAYAD AT MAFOFORCLOSED NG DEVELOPER ANG AMING MGA BAHAY ANO PO ANG MAAARING MANGYARI SAMIN? SAPAGKAT SAMING PAGKAKA ALAM ANG TITULO NG AMING MGA BAHAY AY NSA SANGAY NA NG GOBYERNO NA PINAG SANGLAAN NILA. HINDI NA PO NAMIN KAYANG KUMUHA NG ABOGADO. KAYA PO SANA MASAGOT NIYO ANG AMING KATANUNGAN. SA MGA NAIS PONG MAG TANONG PARA SA KABUUAN NG KWENTO SABIHIN NIYO LANG PO KASI KAILANGANG KAILANGAN PO TALAGA NMIN NG TULONG SA LALONG MADALING PANAHON. MARAMING SALAMAT PO!

  • MA. Eppie Serrano

    Hi Jay,
    We arrangedthe purcahse of a unit at Mezza Residences, SMDC Sta Mesa in January 2012 and gave a downpayment of 1.8 but filed for a loan for the payment of the rest of the amount payable in 10 years. By March 2012 we learned that our loan application was disapproved so we immediately downgraded to a 2 bedroom unit costing 4.6m. Upon downgrading, we paid an additional amount of 500k so the downpayment now went up to 2.3 but up to now hindi pa na=a award sa amin ang unit. Last February they informed us that the former Copntract for Unit 3805 was already cancelled and processing of papaers for the new unit 3711 is on-going. Pero sobrang tagal na tagal na. Mag isang taon na. Gusto na naming mag-back out sa pagbili. Walang consideration, insensitive and SMDC< Enta pa rin kami ng renta. KUng ituloy namin ang plano naming hindi na bumili and with the Cancellation that we both agreed on, pwede ba naming makuha ang buong amount? Noong October pinagbayad kami ng reduced penalty na 117,000.00 sa mga delays na hindi kami ang may kagagawan.
    Please reply ASAP. THANKS. Gustong gusto ko ng mag back out sa "SLOW COMPANY NA ITO."

  • Pingback: 20 Tips - How To Top The Real Estate Brokers' Licensure Exam - ForeclosurePhilippines.com

  • Leoniza Anceno

    good evening po. May question po sana ako regarding Maceda Law… yung 50% refund po ba na stated sa MACEDA LAW na TOTAL PAYMENTS MADE is it principal payment only or principal payments + interest and penalties? thank you po.

  • Jiji De Dios

    I bought a condo but the unit will be turned-over by June only. I had only paid 9 months and I cannot continue anymore for financial reasons. I already informed the realtor about my situation even before my payments will be delayed and requested for a refund. Is it true that I cannot refund anymore? We have not used the unit yet as it is not ready for occupancy yet.

  • des

    good morning! bumili po kami ng condo last Oct 2012. nakapagbayad na ng reservation at 3 mths installment ng dp. preselling po ito. pinapirmahan na po ako ng mga papeles pero sabi nila bago rfo on aug 2013 kelangan pa daw magappear sa pagibig for acceptance. pwede po ba makapagbackout pa kc nakapagdecide kami kumuha ng bahay kaso condo. mababalik pa kaya ung reservation na non refundable o di kaya ung 3 mths dp namin. Please reply. Thanks.

  • janet

    good morning po,tanong ko lang po kung may bisa ba ang deed of sale na hawak ko kahit na di pa ako nakapagpadeclare na nabili ko na ang kalahati ng lupa?

  • Ronald

    hello po!…ask ko lng po sna kung ano ang pwede ko gawin sa house and lot na ko?…mahigit 3 years ko na din po sya nahulugan pro nitong nakaraan e nagkaroon po ako ng problema financial at 8months po na hindi ko na nahulugan yung unit na kinuha ko…last week lng po tumawag ang developer sa amin at for cancellation na dw po ung unit ko…sinabihan din po ako ng developer na once macancel ung unit ko e wla dw po ako makukuha kahit singko…halos nsa 1.5M na din po yung naihulog ko dun sa unit ko…binasa ko po yung contract nila na napirmahan ko at na mention nman po dun yung sa R.A. 6552 kaso may idinagdag pa po sila na maraming bayarin na dapat ko bayaran once macancel…tapos po ilang beses ko binasa yung sa maceda law at wla nman po na bangit tungkol dun sa mga sinasabi nila na dapat ko bayaran…example po itong mga sumusunod…reservation fee, broker’s commision,incentive,promotion and other fees,administration fees and cancellation, other related unpaid obligation of the buyer to the seller, marami pa pong iba…ano po ba ang dapat ko gawin?…malaki po ba ang laban ko sa kanila na may maibalik dun sa mahigit 1.5M ko na naihulog?…I am looking forward for your immediate answer regarding this matter…thank your very much po.

  • denise

    hi sir, bumili ng property ang asawa ko sa crown asia tapos na namin hulogan ang total Dp for 1yr & 5mos then ipinasok sa BDO, naka 1 yr. po kmi ng hulog sa bank pero pagdating ng May di na po kmi nakapaghulog up to present. May notice for bidding na po ung property namin sa March 11,’13..ang bilis po ng pangyayari… nabasa ko po ang Maceda Law, pwede po ba kami maka-avail ng 50% refund kung sakali? if ever po, kanino? sa Crown po ba o sa BDO? Then, second question is, kung sakaling voluntary surrender po ba gagawin ko, pwede pa po ba kaya un sa case namin para sa ganun hindi po mabad-shot name namin sa CMAP? Third question po, masyado po yatang mabilis ang foreclosure notice na ginawa ng BDO sa property namin? From May 2012 up to Feb. 2013 na hindi po kami nakapagbayad…makatarungan po ba kaya ito Sir?

  • jack

    atty pwede po ba advice sa tanong ko???

  • leah maglalang

    sir ask ko lang po ma fo forfeit po ba ang bahay ko kung hindi ko pa po nababayaran lahat ng buo yung downpayment ko at yung move-in tsaka yung loan difference ko na 75.000 po lahat lahat.ko pero aproved na po ako sa pag-ibig nag babayad na po ako sa pag-ibig monthly.

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

      Hi Leah, negotiate mo na agad na babayaran mo yung loan difference. Nag ba kulang yung loan equity mo, tama po ba? Negotiate niyo na agad na babayaran mo rin siya in installment para magaang naman para sa iyo.

      • leah

        thank you po. pero ayaw po nila pumayag ng installment gusto nila reconstruct daw po kaso hindi ko po kaya kasi mas malaki na po. ma foforfeit po ba ang house ko kasi ang remaining balance ko na lang sa realty corp ay 75,000

  • reba

    ask ko lang po atty. what if nagsign ako ng contract sa immigration and nagbayad ako ng half lang ng requirement fee nila pero due to some problem hindi ko na maitutuloy pa makukuha ko pa ba pera ko?

  • kc

    Hello just want to ask lang po, how about pag 4 months na di nabayaran yong monthly payment sa nabili namin na lote, ano po ba gagawin ko?

  • jack

    tanong lang din po nakapurchase ako ng lot inhouse financing and fully paid na po sya last 2009 pa until now wala parin yung land title ko at sumukat na ako sa kanila na gusto ko nalang i refund lahat ng binayad ko pati interest and principal na binayad ko sa kanila makuha ko kaya yun kasi sila naman may kasalanan 4 years na kong nag iintay ng titulo

  • Raiza Binaday

    Hi sir! Pano po kya s case nmin? Almost 4 yrs. n po kming nghu2log ng bhay. My husband got sick kya ngpunta kmi s land dveloper nung bhay and asked kung my mare2fund kmi if ever n iwi-withdraw nmin ung contract. They said wala dw po kming maku2ha. We also asked kung pwedeng humingi ng grace period since my husband is sick and can’t go back 2 his work. They said if can’t pay within sixty days, mapo-porfeit dw ung property nmin. Sir, pls. help us. Thanks.

  • Raiza Binaday

    Hi sir! Pano po kya s case nmin? Almost 4 yrs. n po kming nghu2log ng bhay. My husband got sick kya ngpunta kmi s land dveloper nung bhay and asked kung my mare2fund kmi if ever n iwi-withdraw nmin ung contract. They said wala dw po kming maku2ha. We also asked kung pwedeng humingi ng grace period since my husband is sick and can’t go back 2 his work. They said if can’t pay within sixty days, mapo-porfeit dw ung property nmin. Sir, pls. help us.

  • Mariepi Conge

    Atty Jay ask ko lang po about maceda law recently po kase bago mag end ang 2012 na vacate namen ung house namen d2 sa antipolo dahil na cancelled ng developer almost 4 years na po kame dun nakatira nung ma cancelled ung bahay 25k per month po ang mothly amortization namen 100k po lang ang na refund namen after a week ng e vacate namen ung bahay tama po ba na un lang ang na refund namen kase ang pagkakaintindi ko po ay 50% supposed to be ang dapat namen na refund? sana po masagot nyo ang tanung ko regarding this..tnx and god bless…

  • Jon

    Hi gusto ko Sana hingin Ng tulong ko sinu pwedi mg assist sakin Kung attorney po ba at sinu pwedi tawagan kasi mag back out na po kami sa pag hulog Ng bahay kasi grabe na interest Ng sent na ko Ng letter pero sinasabi nila na sayang ilang na Lang daw makakabalik samin at Wala din daw sila pero ung developer na pwedi ibalik samin kaya kailangan

  • riana

    Hi ask ko lng po tapos na kmi mgbayad ng downpayment nun May 2012 nun kinuha namin yin house malinaw po sa usapan na ipapadok namin iyun sa pagibig february pa lng kinumpletona namin papers namin pero evrytime we follow it up sa developer lagi nila sinasabi na on process pa rin, nabibigatan na kmi sa monthly amortization, can we havevthe rights to demand na di muna kmi mgbabayad ng in hoiuse financing hangat di naapprove ang pagibig

  • http://Esah27@gmail.com Joel

    Sir ung po bang 50% na refund isung mismong mga binayad ko sakanila for about 45 months na ako na ngahuhulog sakanila?

  • http://Esah27@gmail.com Joel

    Sir
    Maykarapatan po ba ako nakumuha ng refund ko kasi kulang po kami ng hulog na 15 months sa developer ang pinadalhan po nila ako ng letter recession letter.. Ang sabi po kasi sakin wala daw po ako makukuha na refund.. 2 lote po kasi ang kinuha ko.. I think nasa 80% na po ang naihulog ko.. Pwera pa po dun ang down payment reservation.. 15 months nalangpo ang kulang ko sakanila.. Bayad ko na po ang lupa ko.. Natatakot po kasi ako na mawala pinaghirapn namin ng ganun ganun nalang..

  • Jon

    Sir jay
    Tanung ko Lang po Kung ung 50 na makakabalik Ay ung kalahati Ng lahat Ng mabayad mo po
    At second tanung po nung nawalan po ako Ng work 9 buwan po ako Wala work kaya nag hiram po ako sa nanay ko Ng pang up date tapos po 2month naka bayad uli din mga 6 month d naman naka bayad kaya Ng pa restructure po Ng payment bakit ung remaining amount nakaroon naman Ng same interst kya lumaki naman at Wala na kataposan pagbayad tapos Wala daw sila pera kung mg bak out ako kaya every month na
    Bawasan ung refund ko hanga sa Wala na makuha anu po ka dapat ko Gawain

  • ellen jimenez

    gud am. my daughter bought a condo unit @ cambridge village last 2005.she issued post dated checks for the said unit up to march of 2008.-More than 3 years na nakapaghulog in the amount of (402,000).financial crisis has affected us kya hindi na natuloy ang monthly amortization.last june 2008, nagpadala ang empire east ng letter of cancellation with forfieture of payments as damages (notarized). since wla po ang anak ko-nag abroad para maghanapbuhay at hindi rin namin alam ang gagawin dhil hindi kmi aware sa Maceda Law.But last March 2009, nagpadala sila ng final notice of turnover of unit.Nag fax po ako ng spa to confirm.since then, wla na po communication.However, last November 2, 2012, meron almost the same case na nafeature sa column ni Atty. Persida Acosta,kaya po nabuhayan kmi ng loob na mababalik khit man lng 50% ng pinaghirapang pera ng anak ko.Nag inquire na kmi sa empire east regarding ng status ng unit at wala silang maisagot.for 3 weeks now, same answer ang ibinibigay-wla pang docs sa knila.this morning, in-admit na ng staff nila na me nakapag move-in na sa unit last 2010 pa.saan po kayang office kmi pwede humingi ng tulong para maprocess agad ung claim namin?sa hirap po ng buhay, napakalaking tulong po ang perang ito para makapag umpisa ng hanapbuhay.salamat po.

  • Lisa

    Hello Atty,

    I’m a first-time buyer po ng isang house and lot. Ready for occupancy po ang nakuha kong unit. I requested for the removal of the balloon payment since hindi ko po sya kayang bayaran ngayong taon. Only then I was made aware that the property I bought was a foreclosed property – hindi po nakasaad sa contract to sell ko yun, may habol po ba ako sa developer ko?

    Sabi po ng nakausap ko from their head office maccharge daw po ako ng 3% interest pag hindi ko nabayaran ang balloon payment ngayong taon (payable in 3 years). Pero I sent my request 6 months ago and until now wala pa din silang ginagawang action and the status of my request is still for approval ng bank. I understand that it takes awhile before getting a response from the bank (let’s say alam ko na foreclosed yun property) pero the request was sent ahead of time, will I still be liable for the penalty?

    Hoping for your response.

    Thanks,
    Lisa

    P.S. I find your website very informative and helpful especially for first-time buyers like me. Thank you and more power!

  • gerald

    atty. ask ko lng po.im planning to stop paying once i reach 2 years,just to get my rights for 50 percent refund as mentioned on maceda law…pano naman po gagawin ko kung after 2 years n ako nagbabayad at ipapacancel ko n po ung condo na kinuha ko sa developer. ang problema ko po,since di2 po ako sa abroad at hindi pa kc ako posible makauwe sa pinas,ang tanong ko po,pwede ko po ba ipancel ung payment through phone? o pwede rin po ba ako mag ask sa relatives ko na sya n lng mag cancel ng payment ko sa condo?since di2 nga po kc ako abroad…atty ano po dapat kong gawin? hoping matulungan nyo ako.thank u

  • Mjane

    Hi po Atty,
    ask ko lang po kung 50% ng total na naibayad ko sa lote even before restructuring kasi na restructure po terms ko at forfeited yung kalahati ng naibayad ko. And according po sa developer they still need to deduct the penalties and expired interest kasi 2 years po arrears ko. thanks po.

  • Russell Leyrit

    Hi Atty.,

    I just received the notice of cancellation from the seller of my condo unit today. The letter was dated October 8, 2012 and notarized on October 9, 2012. The mail envelope has the date of October 30, 2012 stamped by our city post office but I didn’t receive it until October 31, 2012 (today). The cancellation notice is due to my arrears in payments which amounts to 12 months of non-payments. I have decided to just opt for the cancellation since I no longer have the ability to make payments anymore. The notice says that they recognizes the Maceda Law that I should get a refund of the installments I’ve paid (more than 2 years of amortization and full down payment) but they also stated there that I have an obligation to pay the delinquent amount. Since I am agreeing to cancel the contract, would I still be liable for the unpaid amortization and penalties with interest? Would I be entitled for the 50% refund as per Maceda Law?

    Thank you.

    Sincerely,

    Russell Leyrit

  • http://foreclosurephilippines.com Libby

    Hello po sir. I stopped paying installments on the piece of property last 2010. Nawalan po kasi ng work ang husband ko. I totalled the number of installments paid po is 14 mos lang and 6 mos po for the downpayment. Ngaun meron na po pinadala yuyng developer na notice of cancellation. Pede ko pa po ba bayaran yung kulang na installments para makabuo ng 24 mos to qualify for a refund? And sir, wala po pala ako contract to sell na napirmahan. Please help. Thanks po

  • http://none arnny castillo

    sir yun po bang govt financial institution like gsis is exempted from maceda law?

  • Edward

    Greetings Sir Jay,

    Kindly asking, does Maceda Law still apply if the developer has not issued a contact to sell yet?

    My case po is that I invested in a condo unit and parking last February 2012 and have been paying for around 7mos already amounting to more or less P100k as of this date. Due to some financial difficulties & change in priorities I am contemplating if in case I decide to stop with the investment, will I be able to refund my money? how much? The developer told me that I won’t be able to refund anything despite the fact that there is still no contract to sell yet….

    Just want to know my stand so that I would come up with the best decision. Some people around me told me that I can even pursue my situation thru the “small claims law”..is that possible and if in case I pursue such action, will it be worth it?

    hope you can give me some tips on my situation. thank you Sir for sharing your time and expertise.

  • http://yahoo.com chloe

    Hi sir jay,

    good day po, ask lang po if nakabayad na po kami ng 3yrs sa isang developer den di po kami nakakapaghulog ng almost 4yrs na po possible po ba na makakauha kai ng 50% refund. la rin po kami kc narcv na letter from them den nun tumwag po ako sa customer hotline may buyer na raw po un haus namin at un mga inistall nmn mga lights and tiles di na raw po pede makuha
    thank you po.

    thank you po

  • Rina

    Hello po,

    I bought a townhouse sa Profriends last 2009. Sad to say, I got fired from my job hence, I could no longer pay my succeeding monthly amortizations. Under sa Maced Law, dapat entitled po aku sa 50% refund, right? because until now I’m still paying for it. I called their office and the staff said that I’m not entitled sa refund since they only grant refunds daw if my fault ang company, and not because sa arrears or difficulties of the buyer to pay.

    But I read the Maceda Law many times, and it indicated that I’m entitled to it, right? Regardless of the reason–since it’s my money anyway and no one is above the law.

    Thanks

  • josefina arenas bonita

    Dear Sir, buyer po aq ng 1 condo.@ naging sales agent po.sa loob po ng 1 taon naging 3 ang condo ko dahil sa pagsisikap kong makabenta..sa isang taon po ay nag quota ako ng me 70million.pero natuklasan ko po na niluko ako ng broker ko dahil sa kanya napunta lahat ng commision…sa sama ng loob ko hindi ko napasukan ang nga trabaho ko at nawalan aq ng trabaho..nakiusap po ako sa office kung pwede ko pag-isahin ang nga condo ko..pero hindi daw po pwede kesyo under maceda law dapat maka 2 years bago me marefund…hindi nman po ako nagrerefund..nakikiusap po ako kung pwede itransper ang nga naibayad ko sa 2 namin condo….wala din po ginawang action ang office sa panluluko ng broker namin at hindi daw po sakop ng company ang problema ko..samantala nuon po sinabi nila na me 50%KAMING MAREREFUND kung hindi na namin kaya itong bayaran…at maitanong ko na din po,ala nga p bang pakialam ang developers sa problemang panluluko sa akin ng broker na lahat ng benta ko sa taong yon lang napunta ang commision….hindi po ba tauhan nila itong tao at condo nila ang nga binebeta ko??bakit wala at labas sila sa problema…umaasa po sa inyong tugon sa email ko..(deleted by admin)

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

      Hi Josefina, nakakalungkot po ang sitwasyon niyo at maiintindihan ko kung may nararamdaman kayong galit. Ako nga na licensed broker, naranasan ko na rin ang kagaya ng naranasan niyo, may pinagkatiwalaan akong kapwa broker pero lolokohin lang pala ako… tsk tsk… marami talagang ganid sa mundong ito, pati sa industriya ng real estate.

      Sa sitwasyon niyo, parang iba kasi ang pag assign ng rights at pag assign ng payments, kagaya ng nabanggit mo. Sa Maceda law kasi, pwede mo i-assign ang property sa ibang tao, pero in your case, ikaw na nga yung may rights dun sa tatlong condo, at gusto mo lang na malipat yung payments sa dalawang unit sa isang unit na lang (tama po ba?). Depende talaga sa developer yan at sa policy nila. Sa banko kasi pwede i-assign yung reservation money sa ibang property, pero pag monthly payments na, ibang usapan na yon.

      Kung recognized kayo as an agent pati po ang developer, may karapatan na sila na mag-intervene sa problema, pero kung ang nirerecognize lang nila ay yung broker nila, baka nga sa tingin nila ay manghihimasok at makikialam lang sila.

      Matanong ko po, may written agreement/contract po ba kayo ng broker na nangloko sa inyo? At may prueba po ba kayo na client niyo yung mga nakabili ng mga units na worth more than PHP70M? Kung meron po kasi, sa tingin ko po may habol kayo. kung wala, para pong “it’s your word, against the word of the broker” at baka mahirapan po kung magkaroon ng kaso.

      Mahirap po talaga magtiwala ngayon basta-basta, kaya kailangan may agreement/contrata, kahit kakilala niyo na ang isang tao para protektado at may habol kayo.

  • Amidala

    Good morning,

    Nakahanap na kami ng buy ng property namin. Bale DP 20% palang tapos namin. So pano po ba ang procedure dun? Pwede bang written agreen agreement muna na kami ang babayaran nia ng DP? The after ma-pay samin ang DP, saka ko transfer ung rights?

    Thanks

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

      Yes, that would be okay, suggestion ko po kumuha po kayo ng kakilalang abogado para mag draft ng memorandum of agreement or letter of undertaking.

  • Amidala

    One more question, Sir. Mas okay ba if benta nalang namin yung property? Matatapos na kasi kami ng DP this November, total is 421K. Yung unit namin sa Carmona for sure 2014 or 2015 pa matatapos. I am still confused if ilalaban ko to sa HLURB because magbabayad kami ng fees, and matagal yung process. Not certain din if 100% refund yung bigay.

    So, okay po bang option if benta nalang namin? Or, laban parin sa HLURB? Pwede naman ma-transfer yung property sa ibang tao, right?

    Thank you.

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

      Yes, selling through a Deed of Sale or a Deed of Assignment would be another option (covered yan ng Maceda law, please see section 5 above), just make sure how much the assignment fee would be, if any. For other developers, it can be as low as Php10K to as high as Php100K. Less hassle nga yon kesa magkakaso pa, in my opinion.

  • dors

    good day, sir! tanong ko lang po sir kung sa maceda law po ba sa naka state na kung wala pang new buyer sa lupa mo, di ka pa makakarefund? at naka state din po ba sa maceda law kung gaano po ba katagal bago makukuha ang refund? salamat po!

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

      Hi dors, alam ko wala namang provision na kailangan may new buyer muna. Alam ko rin walang nakalagay sa law kung gaano kabilis dapat marelease ang refund, depende na rin siguro yon kung nagcocooperate yung developer.

  • Amidala

    Good morning,

    Our DP will end this November. (24mos installment). Total is 421,000 PHP.
    Mag file palang kami ng complaint on Tuesday, October 9.

    So, since matagal ang usad ng kaso with HLURB, by the time na refund kami, 50% lang? Hindi ba namin pwede ma-refund yung buo? Ang laki ng 421K para mabawasan ng kalahati.

    Thank you.

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

      Hi Amidala, if you are able to establish that you have been paying for at least 2 years, the 50% refund is the least you can get based on the maceda law. But if you want to refund the whole amount because of issues with the developer, I suggest that you check with HLURB if there are grounds for a full refund. You can contact HLURB directly by consulting with the Legal Services Group at the HLURB Central Office in Kalayaan Ave., cor. Mayaman St., Diliman, Quezon City or call them at 924-3367/927-2697/920-8749.

      • Amidala

        Thank you very much!

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

          You’re welcome! :-)

  • maryann

    sir last thing po do u have other no. i cant connect to the no. that uve given me, and i cant send an email either. tnx

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

      Hi Ms. Maryann, will check if there’s another number and get back to you…

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

      Hi Ms. Maryann, based on the forum of HLURB (http://hlurb.gov.ph/forum/index.php?topic=34.msg149#msg149) , you can contact them as follows:

      “You can directly come and consult the Legal Services Group at the HLURB Central Office in Kalayaan Ave., cor. Mayaman St., Diliman, Quezon City or call them at 924-3367, 927-2697 or 920-8749.”

  • maryann

    hi thanks for the quick response….

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

      You’re welcome ma’am!

  • maryann

    HI… PANO KUNG TAPOS NG HULUGAN ANG DOWNPAYMENT TPOS NG TAKE OUT N PO NG LOAN S BANK, DI NMEN PWEDE TIGNAN UNG HAUS BEFORE HANGGAT DI PA NTATAKE OUT ANG LOAN, TPOS NUNG NATAKE OUT N UNG LOAN PINUNTAHAN NAMEN, PGATINGIN NAMEN DI UN ANG GUSTO NMEN N HAUS, IT WAS A DUPLEX AND NOT A SINGLE ATTACHED, AND WE ARE PREFERRED BY SINGLE ATTACHED, DI DIN NILA KME INFORM N DUPLEX UN, KYA DI KO ACCEPT ANG HAUS KSE DI UN ANG GUSTO NAMEN N HAUS, NGAUN PINAPILI KME JUST INCASE DAW N PGBIGYAN ANG PG TRANSFER NAMEN, THEN WE SEND A LETTER S DEVELOPER WHICH THEY TOLD US TO DO SO, AFTER 1MONTH THEY CALL US N DI DAW PO KME GRANT N MGTRANSFER KSE NATAKE OUT N DAW UNG LOAN S HAUS, SBI KO NMN KUNG SINABI NYO SKEN N DUPLEX UN EH DI DAPAT BAGO P MAOUT UNG LOAN EH NKALIPAT OR DI KO N TINULOY, THEN SBI SKEN FOR RECONSIDERATION DAW, GUMAWA N RIN AKO NG EFFORT TUMAWAG N DIN AKO S BANK TO KNOW WAT TO DO ABOUT MY CONCERN, THEN THE BANK TOLD ME THAT IT CAN TRANSFER BUT THE DEVELOPER SHOULD MAKE A LETTER TO TRANSFER, PUMUNTA AKO ULET S DEVELOPER THEN I TOLD THEM WAT THE BANK SAID, AGAIN THEY WANT ME TO GIVE THEM AN AMPLE TIME TO PROCESS AND ILAPIT DAW S HIGHER LEVEL, SO I WAITED AGAIN FOR 1 MONTH, THEN THEY TOLD ME NOW N DI DAW N APPROVE KSE MARAME DAW I COCONSIDER ANG BANK, IT MEANS MARAME FEES, SBI KO ON THE FIRST PLACE DI NYO AKO INFORM SNA MAN LANG YUNG CONSIDER N UN OR FEES EH ISHOULDER NG DEVELOPER SINCE IT WASNT MY MISTAKE, IM WILLING TO GIV ATLEAST 10% OF THE TOTAL COST PRA LANG MATAPOS N….. THEY AGAIN TOLD US N WAIT KO DAW ANG KOL NILA WITHIN A WEEK, ASK KO LNG IF EVER MAY HABOL PO B AKONG MAKUHA LAHAT NG NABAYAD KO? KSE DI KO NMN TLGA KSLANAN UN, UNG AGENT NILA CNSBI DIN SKEN N WLA SILANG GANUN MODEL N DUPLEX LAHAT DAW SINGLE ATTACHED KYA UN ANG SINABI NILA SKEN AT SIGURADO SILA DUN, KAYA UN, EH PARANG NAPAPAGOD N DIN AKO, PARANG MAS GUSTO KO IREFUND LAHAT NG PERA KO TPOS KUHA N LNG AKO NG RFO N SINGLE ATTACHED S IBANG DEVELOPER.MAY HABOL PO B AKO? TILL NOW AUTO DEBIT PA RIN S BANK KO UNG BAYAD SA DUPLEX N BAHAY.

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

      Hi Ms. Maryann, mabuti po isangguni niyo po agad sa HLURB lalu na at naka autodebit arrangement kayo. You can contact HLURB through their website (http://hlurb.gov.ph/) or call/email their Legal Affairs Group:

      Telephone No.: 920-8749
      E-mail: lsg@hlurb.gov.ph

  • Dave

    Paano kung meron ka nang nakitang di maganda sa gawa ng developer mo. Tulad ng na feature sa Imbestigador noong Sept 23.. May habol ba ang buyer kung walang 2 years ang payment?

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

      Hi Dave, dapat may habol pa, HLURB ang makakatulong. Please contact them using these which I got from their website: (http://hlurb.gov.ph/)

      “For immediate response to your
      legal queries please directly call or e-mail our
      Legal Affairs Group

      Telephone No.: 920-8749
      E-mail: lsg@hlurb.gov.ph

  • danny juridico

    ask ko lang po kung pano kung two years palang po ako nakakapagbayad, hindi ko na po kayang ituloy ang payments ko, two yrs na po ang arrears ko , may ipnadala napong noticeof cancellation,may makukuha pakaya ako. na acquire ko po ito as second buyer noong year 2000, ako na po ang nagbabayad since then, hanggang nagpa re structure po ako nung 2009.

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

      Dapat po meron kayong makukuha na 50% nung naibayad niyo kung 2 years na kayong nagbabayad.

  • glance

    my house po me kinukuha gusto ko na pong i cancel kaya nga lang sabi ng developer pag cancel ko daw ung contract nmin ala daw me makukuha pr no refund i paid already about almost 130thou. what i will do?

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

      Umabot po kayo ng 2 years na nagbabayad?

  • Elmer P. Borromeo

    As ko lang po pwede po bang ma refund yung down payment namin, kasi kumukuha kami ng bahay at nakumpleto na yung 1 year down payment at ang sabi nila mga 1 year pwede ng tirahan hanggan ngayon wala pa 7% palang ang natatapus mga December 2012 pa raw matatapus.

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

      Kung umabot po sana kayo ng 2 years na nagbabayad, marerefund niyo po sana ang 50% ng naibayad niyo. Tinuloy niyo po ba ang pagbabayad?

      • anoche

        hi. purchased a condo on jan 2011: paid the reservation fee (P20T) on jan 2011; P185T – 5% DP on feb 2011; then from march 2011 to dec 2012 paid the installments (15% divided by 24 months – P25T per month). Will I qualify under Maceda Law if I will not to continue with the monthly amortization starting january 2013? Many thanks in advance for your help.

      • anoche

        hi. purchased a condo on jan 2011: paid the reservation fee (P20T) on jan 2011; P185T – 5% DP on feb 2011; then from march 2011 to dec 2012 paid the installments (15% divided by 24 months – P25T per month). Will I qualify under Maceda Law if I will not to continue with the monthly amortization starting january 2013? Many thanks in advance for your help.

  • Gina Escalona

    Nakabili din po kami ng husband ko ng condo. Nakabayad na kami ng monthly amortization for 43 months. meron pa pong remaining na 17 months for payment. kaya lang di na po namin kayang ipagpatuloy ang pagbabayad. Directly po kaming nagbabayad sa developer. Nagpadala na po ng notice of cancellation/Forfeiture ang developer dated June 1, but they just sent it & just received it june 18. May habol pa po ba ako sa refund?

    After knowing the Maceda Law, what are the step or precedures po to avail the 50% refund?

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

      Dapat po meron kayong habol sa refund. Na try niyo na po bang kausapin ang seller with regards to your refund, stating that you are aware of your right to a refund because of the Maceda Law?

  • Danny

    ask ko lang po kung ano mangyari kung namatay na yung buyer at nakahulog na sya ng 4years sa 5years contract ng lote o mahigit na 80% sa total lot value? ma aaward na lang ba sa kanya ba sa kanya yung lote without paying the remaining balance? o makakakuha na lang sya ng 50% na refund sa total na binayad?

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

      Yung pong nasabi niyo na considered fully paid na dahil namatay ang buyer, mortgage redemption isurance or MRI po yon. Dapat po ma check niyo kung meron ngang MRI.

  • Danny

    ask ko lang po kung ano ang mangyari kung namatay na yung buyer at nakahulog na sya ng 4years sa 5years contract ng lote o mahigit na 80% sa total value ng lot. ma aaward na lang ba sa kanya yung lote without paying the remaining balance? o makukuha na lang yung 50% na refund sa total na binayad?.

  • Rowena

    Is Maceda law covered Pag-ibig Loan?WE have Pag-ibig housing loan for 10 years to paid we already paid for 4 years now. as of now di na kami makabayad. meron po pa kami marerefund as pag-ibig?

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

      Mortgage po ba or contract-to-sell. Kung contract-to-sell po, dapat applicable ang Maceda Law. Pag mortgage po kasi, considered fully paid na yun dahil may Deed Of Absolute Sale na, hinuhulugan na lang yung utang.

      • heherson

        Jay,

        Do you mean hindi na covered ng Maceda Law yung utang mo sa bank kapag nagbank finance na yung purchase mo ng property?

        How about kung in-house financing? Normally kasi, downpayment (payable until the property is constructed) plus full payment of the selling price ang mode of payment. Tama ba ang understanding ko na kapag in-house financing na ay mortgage na yun, so hindi applicable ang Maceda Law katulad ng example mo above na Pagibig ang nagfinance?

      • LJ Tejano

        So ang ibig sabihin ho ba nun, hindi nagaapply ang Maceda Law sa mga naka mortgage / housing loan sa banks?

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

          Hi LJ, I believe if a housing loan is done through a mortgage contract, considered fully paid na yung purchase ng property dahil may deed of absolute sale na, what’s being paid for is the loan with the bank loan. Other housing loans done through a contract-to-sell should still be covered by the maceda law.

  • Jacqueong

    ask ko lang po, kumuha po kami ng house and lot, may reservation agreement po ako pinirmahan na nakalagay dun na no refund. ang sabi pa sken 50% ng downpayment start ng gawin ang house, ang problema ko po tapos na po kami magbayad ng downpayment hangang ngaun po mag 2months nako naghihintay gawin yung house pero hangang ngaun wala pa din ginagawa bahay lagi lang saken sasabihin na gagawin na pero wala, balak ko nalang ewithdraw at maghanap ng bahay na ready to move in, pero sabi saken wala daw ako makukuha sa binayad ko, sila naman po hindi tumutupad sa usapan. may makukuha pa po ba ako sa downpayment na binayad ko? sana po masagot nio po ako salamat po & god bless.

  • Chris_lhey

    We acquired a lot on Feb 20, 2010. We started paying the 6monthly installment on downpayment on March 20, 2010 and started paying the monthly amortization on Sept. 20, 2010. However, we defaulted on our monthly amortization last Feb. 20, 2012. My question is, how many months do we still have to pay in order for us to qualify for a refund of 50% according to the Maceda Law – RA6552?

  • weng

    ang sister ko po ay kumuha ng house and lot last 2009..she had already paid the full downpayment last yr pa..ngkaroon ng problem ang developer kya nastop ang construction ng unit..early last yr inaasign ng developer sa isang bank yung property na kinukuha nya but until now wla pa ring malinaw na usapan between the two parties kya di pa rin matapos tapos yung bhay..my right po ba na irefund na lang ng sister ko yung downpayment na hinulog nya if she decide na magbackout na lng..kung ang developer ang nagkaroon ng problem kya di natuloy ang paghulog ng buyer applicable po ba ang maceda law pra walang marefund ang buyer if less than two yrs lng nakapaghulog sa downpayment? in the first place, she was given 12months to pay the downpayment in full..thank you and i hope that your response will help me to take some favorable actions regarding this matter..God Bless and more power..

  • johncedrick

    Ask ko lng po kung may ma rerefund pa ako sa housing loan ko more than two years po kami tumira sa bhay namin then 1 year po kami nkatira sa bhay namin, pero tumagal po bkasyon ko as a seaman kaya di kami nkabayad, ngaun po umuupa n lng kami, may chance pa po ba na may ma refund kami kahit konti sa hinulog gko in 2 years.thank you po!!!

  • Third

    just want to ask if i will be entitled to 50%, i payed 27mos out of 30mos of downpayment, but i haven’t signed the contract yet since i’m outside the county. House and Lot not yet built.

  • Shykes

    Paano naman ang mga nakapagbayad lang ng 18 months, may makukuha din kaya kahit paano?? I look forward to your speedy response, thank you.

  • Babheuq_eighteen

    what if downpayment palang yung binayaran. pwede pa bang i withdraw yung contract??

  • Mjrose1007

    just want to ask about the 50% refund? makukuha b agad un ng buyer or paano ang procedure? kailangan b umalis muna ang buyer s bhay bago ibigay ung refund?

  • Malvin1125

    comment lang paano kung nagsign ako ng contract pero nakasaad duon na no refund policy? may karapatan pa din ba ako na marefund ung ininvest ko let say 2yrs na ako nakakabayad?

    • Gurlinpinkcell

      i guess yes kasi in Section 7 it states that any contract contrary to section 3-7 will be considered null and void…so meaning yung contract na nakalagay na you cant refund is void kasi it is also our rights as buyers to protect ourselves from developers. So any developers shouldnt claim any immunity to the law. So dapat makukuha mo parin ang 50% refund no matter what kaya nga ginawa ang batas na yan.

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

        I agree, thanks!

  • renren

    please post now the salient features of maceda law and recto law..please..

  • http://realestate.sulit.com.ph/ ian

    nice job on posting thanks its a good information for real estate buyers/investors