We chanced upon this announcement at the official website of Pag-IBIG, which is basically a reminder that delinquent Pag-IBIG housing loan borrowers still have a chance to avoid cancellation (under CTS) and foreclosure (with mortgage loan) of their homes.
This is a welcome development and we hope this will mean less Pag-IBIG foreclosures down the road.
Unfortunately, we could not find more details, although it should be very similar to Pag-IBIG’s loan condonation program, which they had several years ago.
Here’s a copy of the banner announcement from Pag-IBIG’s homepage:
It was difficult to view this banner because of how Pag-IBIG’s website rotates banners at their homepage. They were rotating pretty fast, good thing I managed to click the banner above, but it was not linked to a page with more details.
Anyway, the announcement is directed towards Pag-IBIG housing loan borrowers who have received final demand letters, and Pag-IBIG listed 3 options for borrowers, so they can settle arrears:
- Loan restructuring program
- Non-Performing Asset Resolution Program or NPARP
- Plan of payment
We will update this article when we find more information from Pag-IBIG.
If you happen to have missed any of your monthly amortizations for your Pag-IBIG housing loan and find it difficult to pay the arrears/penalties, our advice is for you to contact Pag-IBIG directly and as soon as possible. They would be in the best position to assist you.
Related: 4 Foreclosure Prevention Tips
For more details, please contact Pag-IBIG directly
For you reference, here are Pag-IBIG’s contact details from their official website.
One last reminder: Please contact Pag-IBIG directly for more info, thank you for understanding.
Source: Pag-IBIG/HDMF Official website: http://www.pagibigfund.gov.ph
By the way, If you have additional info with Pag-IBIG’s program above, please share through the comments section below. Thanks.
