Another frequently asked question I often receive is “Can I buy bank foreclosed properties with financing through a Pag-IBIG housing loan?” and the quick answer I give is “It depends…”. Obviously, if you buy a foreclosed property from Pag-IBIG, you can finance it through a Pag-IBIG housing loan.

But how about foreclosed properties from banks,  can they be purchased and financed through a Pag-IBIG housing loan? Please continue reading below to find out.

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More than a hundred foreclosed properties are set to be sold through public auction in the upcoming Mega Property Auction of RCBC and RCBC Savings Bank. This auction of foreclosed condos, house and lots, townhouses, and other types of real estate will happen on February 27, 2010, Saturday, 9:00AM, at the Podium 4 Lobby, RCBC Plaza, Ayala Avenue corner Buendia Avenue, Makati City, Philippines.

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I’m really glad to report here that Unionbank has already posted their list of foreclosed properties for sale for their 149th Special Public Auction online through their website. Not only did they finally finish updating their website, they also included pictures of the various foreclosed properties for sale. Please continue reading below for more details.

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Everyone is invited to buy foreclosed properties from Unionbank’s 148th Special Public Auction on January 23, 2010, Saturday, 9:00 AM, at the Delas Alas Room, 2nd floor, Philippine Columbian Sports Club, Plaza Dilao, Paco, Manila, Philippines.

Only 10% downpayment is required, with the balance payable up to 15 years, with fixed interest rates at 13% per annum for the first 3 years and 15% for the next 12 years. Just bring Php20,000.00 show money in the form of cash or manager’s checks (MC) to qualify to bid for each foreclosed property. Read the rest of this entry

For the very first time, I am featuring a listing of properties to be auctioned in a  foreclosure sale. During the past year (Yes, Foreclosure Philippines is already more than 1 year old), I have been featuring information and listings for the two most common types of foreclosures we can invest in here in the Philippines. These are bank foreclosed properties or acquired assets and real property being sold through tax foreclosure auctions. Read the rest of this entry

As mentioned in my previous post which contains the full text of Act No. 3135, I am posting here Act No. 4118 which amends the original Act 3135. However, after reading the contents of Act No. 4118, I am inclined to believe that the full text of Act 3135 which I shared in my previous post was already Act 3135 as amended by Act 4118.

Why am I posting these? For starters, I just want to be sure that we are all on the same page when it comes to extrajudicial foreclosure sales in the Philippines. Please continue reading to find out more… Read the rest of this entry

A public auction of foreclosed properties will be conducted by RCBC Savings Bank in their latest Dream Buys Auction which shall be held on December 5, 2009, 9:00AM, at the Development Academy of the Philippines (DAP) Building, San Miguel Avenue, Pasig City, Philippines. Read the rest of this entry

One of my mentors, bestselling author Trace Trajano, recently posted a story about Anna, who bought a property in a foreclosure auction in the US. Take note that some of the things in the story might not be applicable here in the Philippines. Nevertheless, there are lessons here that are applicable to real estate investors  no matter where our locations may be. Before that, here’s the story of Anna… Read the rest of this entry

I found this very interesting advertorial in the in-flight magazine of the Cebu Pacific flight we took in our recent Boracay vacation and I just want to share it to all of you here, along with my insights and opinions. The advertorial which I am posting below is from The Property Forum Philippines, one of the top property auctioneers in the Philippines. Its president, Mr. Noli “El Subastajero” Alleje, has become a very familiar face when it comes to auctions of foreclosed properties. Read the rest of this entry