Pag-IBIG housing loan restructuring until Sept. 30
MANILA – The Home Development Mutual Fund or the Pag-IBIG Fund has reminded its members that socialized and low-cost housing loan borrowers have only until Sept. 30, 2010 to avail of its Housing Loan Restructuring and Penalty Condonation Program.
“The Pag-IBIG Fund, as a way of helping out its members during the financial crisis, came up with its Socialized and Low-Cost Housing Loan Restructuring and Penalty Condonation Program for its borrowers or installment buyers who have lapsed in their monthly amortization payments,” Emma Linda Faria, Pag-IBIG Fund officer-in-charge, said.
The program, which implements Republic Act No. 9507 or the Socialized and Low-Cost Housing Loan Restructuring Act of 2008, aims to assist delinquent borrowers in preserving their properties from foreclosure or cancellation of Contract to Sell by providing them the opportunity to update or restructure their accounts under affordable terms.*
