Pag-IBIG Housing Loan Restructuring Up To September 30, 2010

For those delinquent housing loan borrowers who want to save their houses from foreclosure, Pag-IBIG Fund is offering their loan restructuring and penalty condonation program until September 30, 2010.

Documentary requirements are:

1. Accomplished application form for loan restructuring/penalty condonation
2. Original copy of updated Real Estate Tax Receipt
3. Valid ID with TIN

Additional:
1. For successors-in-interest – Deed of Absolute Sale (DOAS) or Deed of Sale with Assumption of Mortgage or Assignment of Rights
2. For Legal Heirs – Deed of Extra-judicial Settlement of Estate
3. For borrowers who cannot file their application in person – Special Power of Attorney (SPA) executed not more than 1 year under the following cases:

• For overseas worker – duly notarized prior to his/her departure from the country or duly authenticated by the Philippine Consul in the foreign country.
• Evidenced by a medical certificate when the applicant is physically incapacitated.

Pag-IBIG Fund shall proceed with the foreclosure proceedings if any delinquent borrower fails to update or restructure their housing loan after September 30, 2010.