Man Bought House From PAG-IBIG "acquired assets" Dismayed , former owners refused to leave

A man who identified himself as 'Edgar' is having problems with the house and lot he bought from his PAG-IBIG membership, a government agency that allows employed Filipinos to avail cheap and affordable properties for their own or family.

Edgar bought the house from PAG-IBIG's 'acquired assets' but to his disappointment, he and his family is unable to occupy the house because the former owners of the properties refused to leave.

"Hanggang ngayon nagbabayad ako, pero ‘yun nga, ang masakit doon, hindi ko naman siya natitirhan. Hinihingan nila ako ng Php500,000 noon, para umalis na sila," he said in the media interview.

He was told by the former owners to just file charges because they will not leave the house. They have been living in the house for 15 years but unfortunately, the house was foreclosed by PAG-IBIG.

The agency promised that they'll help Edgar in filing charges against the former owners so that he can immediately use the property he availed. He is determined to pursue the case and is willing to wait for the court's decision but he is also hoping for PAG-IBIG to be more strict and do whatever legal measure they must be do so that the former owners will immediately leave.

Public Relations and Informations Group of PAG-IBIG OIC, Florencio Galang Jr., said that the property which Edgar bought is an "as-is, where-is" asset.

"Ibig sabihin, kung ano ang itsura ng bahay na ‘yon, as of the date of publication, as well as kung ‘yan ay occupied or not, alam ng miyembro," Galang explained.

"There’s a risk, if you really want to purchase the property, which is occupied, alam po ‘yun and ine-explain mabuti ‘yun doon sa buyer, at rine-request natin sila na tignan at bisitahin agad ang property even before they decide to buy the property," he added.

Meanwhile, PAG-IBIG advised potential property buyers to visit the properties first before proceeding in buying it.

Owning properties, specifically house and lot, is every Filipinos dream. From cheap to the most expensive 'homes', there are a lot to choose from.

Good thing there are several ways on how to own a home without paying too much. Through the 'Home Development Mutual Funds (HDMF)', better known as Pag-IBIG Fund, buying you're own house is no longer just a dream, plus, it won't cause anyone a fortune.

The savings program of PAG-IBIG is open to all Filipinos, either your employed locally or overseas, self-employed and voluntary.

Watch the Video:

One good reason why investing in PAG-IBIG acquired asset is a good idea.

Lower market value price. There are three modes of payment - cash, installment and housing loan.

  • Paying in cash has a discount rate of 30 percent and you have one month to pay. 
  • Installment, you can get 20 percent discount if you can pay within 12 months and there's 12 percent interest rate per annum. 
  • Finally, in housing loan there's 10 percent discount and payment term is up to 30 years but the borrower's age must not exceed 70 once the loan reached it's maturity date.

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