TESSA Salazar talks to an industry legal expert who shares at least 15 ways to prevent your home from getting repossessed.

Mike Denava, a legal officer of the Housing and Land Use Regulatory Board, noted that about 50 percent of buyers of house and lots and condominium units had admitted they could no longer pay their monthly amortizations or were dissatisfied with particular aspects of the project, and were asking for refunds of their payments.

He added that some of these callers were overseas contract workers who could no longer find jobs abroad.

Denava has enumerated the following 15 reminders to potential property buyers:
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RALLY S. Martinez, president and chief executive officer of XCell Property Ventures, Inc., explains the present state of the real estate market, particularly the mid-luxury to luxury niche.

In this video interview with INQUIRER.net online videographer Janie Christine Octia, Martinez says that the company values the overseas professionals and expatriates market, which he feels have become more intelligent nowadays.

INVESTMENT manager Ryan Osea gives INQUIRER.net a tour of two of F1 City Center’s model units.

Video taken by INQUIRER.net online videographer Janie Christine Octia during the F1 City Center grand launch at MC Home Depot in Bonifacio Global City.

By Daxim Lucas
Philippine Daily Inquirer

FINANCIAL losses of the tobacco tycoon Lucio Tan’s Eton Properties Philippines Inc. widened significantly at the end of last year as the company embarked on an aggressive spending program to get its first projects off the ground.

But its total assets were close to hitting the P1-billion mark a year after it was founded, Eton said.

In a statement, Eton said its net loss at the end of 2007 reached P146.7 million, 664-percent bigger than the P19.1-million loss it reported in April last year.

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By Rosemarie Francisco
Reuters

MERLY PAZ, a Filipina domestic worker in Hong Kong, has stopped sending money for the construction of her home in southern Iriga City because the peso value of her US dollar-pegged salary has fallen sharply.

“My salary is limited so I placed the house on hold,” said 31-year-old Paz who has been working in Hong Kong for nearly eight years. “But the longer I’m putting it on hold, the more that prices of construction materials are rising.”

A real estate boom in the Philippines has been powered by demand from overseas Filipino workers (OFWs) such as Paz who send home salaries to fund purchases and construction of family homes.

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