it is a welcome news that the housing industry had attracted homebuyers despite the hard times ahead. but what bothers me is the way our governemnt is handling the situation.
one example is the housing project at the MRB sites in Quezon city. Beneficaries who formerly squat on this sprawling area were awarded individual units thru a loan 10 or 15 years ago. The sad thing is , up to now, majority of these dwellers are not paying ammortization for years—and continue to occupy the area.

seeing the pag-ibig website of the list of foreclosed properties for sale,it now reminds me of the phraise”an old wine in a new bottle”. the government is exposing itself into a new circus-that of attracting new buyers only to end up in foreclosure proceedings again.

With this, why cant our government implement political will to these projects- collect or vacate? or, have’nt it run out of SAFETY NETS to protect buyer’s and seller’s interest and make housing a successful government undertaking? Or is it the naked truth that homebuyers’ income is not enough to sustain ammortization?

I had a bad experience from PAG IBIG.
1. On 2003. My housing loan was approved by PAG IBIG thru AVIDA. A 125 sq. M. property (House & Lot) at Sto. Tomas Batangas.
2. My monthly amortization was 8.5K per month for 20 years. The cost of the property was 690K.
3. After paying the monthly amortization for more than 2 years.
4. I got a job here in Doha, Qatar and I decided to pay pay the house in cash thru a loan from a Qatari Bank.
5. For more than 200K of my monthly amortization. They deduct only 23K from the principal lahat napunta sa tubo.
6. Imagine a money PAG IBIG lent to its members are the money paid by its members thru monthly contribution. If PAG IBIG commitment is to help the members. That is wrong. PAGIBIG is only fooling its members. ” Ginisa lang sa sariling taba” Laway lang ang puhunan nila.
7. If you fully paid your loan you are still going for the notary of the deed of sale which is amounting to 1% of the loan cost.

Kaya huwag kayong maniniwala sa kanila. Hindi tulong ang ibinibigay kundi ilulubog kayo sa utang. Sabihin mo ang tutuo. Mr. Vice President Noli De Castro hindi yung puro ka papogi

God bless Philippines

It is cheaper to take a housing loan (for houses P1M and above) through the commercial banks than PAG-IBIG. Tapos yung perang pinapahiram nila ay galing din naman sa members. Why overcharge them? Tama na ang pagloloko sa mga Pinoy! Kawawa naman sila!

kidlat marunog ka ba mag-compute ng loan?

I’m looking for a legitimate house builder contractors to build a house in Sta Rosa, Laguna. Is there a site out there where you can check-out and verify their legitimacy and service?

i have a bad experience on the accredited bank (LBC bank) of the developer which I had purchase a house and lot and intended to loan from them.

I submitted all the documents they required within a week.
C.I. is done.
but almost two months I just received there final decision.
It was approved but conditional though.

They need to have a co-borrower.
- which is out of scope. im single and locally employed.

co-borrower is only needed when you are not locally employed (foreign worker), and married or shares title on the property.

That was been said and cleared to me by other banks which I scouted lately to apply for their loan instead.

Only the tenure of my employment history is questionable by them (LBC bank).
But im currently more than a year in my currently employer and 5 years total experience.

Earning t**** as the family income gross that banks normally required to be qualify.

so they demanded for a co-borrower.

i just dont get the logic on how the EXCOM (Executive Commissioner) on LBC bank do the analysis. (hopeless for them)

they have no assurance that the co-borrower can pay (neither tha principal borrower) the loan.

its a post requirement by them after 2 months of waiting.

but how can the co-borrower gives a big role on this application if your co-borrower income is not even half of your salary or at minimum of 20k per month?

i cannot find any qualified co-borrower as of the momment.

i am applying in other banks even they have higher interest rate.

TO EXCOM: i can surely pay though.

computations of housing loans are displayed already in the banks website for our convenience.

To KIDLAT:
I think it would be nice not to judge immediately. Una, you have to consider how a loan is computed. Your monthly amortization is not deducted from your loan amount. Part of it is paid on the interest and part of it is paid on the principal. As you pay every month, the more part is allocated to the principal and the interest part becomes lesser. You also have to pay for the pre-termination since the loan is supposed to be for 20 years and you cut it short to 2 years. The pre-termination fee is actuarially computed to cover the supposed “income” they fund would get from the loan on the later years. God Bless the Philippines

I also think tama lang na nagiging moderator ang pag-ibig kasi ang interest of in-house financed real-estate loans, palaki nang palaki, ang ang cost ng real-estate din palaki ng palaki. This triggered the recession in the US. Sana hindi bilisan ng mga developers ang price ng mga real estate.

You need to determine the right time to get a housing loan–considering your income plus prices of the real estates