Pag-IBIG Housing Loan Restructuring and Penalty Condonation Program is a special program that aims to assist delinquent borrowers/installment buyers to preserve their properties from foreclosure or cancellation of Contract-to-Sell (CTS) by providing them the opportunity to update or restructure their accounts under affordable terms. The program runs for a limited period only so it is important to avail this special program if you have delinquent loan from Pag-IBIG.
Pag-IBIG housing loan borrowers/installment buyers whose accounts are in arrears for at least three months may apply for loan restructuring and penalty condonation. The Pag-IBIG Housing Loan Restructuring and Penalty Condonation program is ongoing until 30 June 2012 so members can already file their applications for loan restructuring and penalty condonation. Applications filed after 30 June 2012 will be processed for loan restructuring but members will no longer qualify for penalty condonation.
There is a down payment required based on mortgages/installments conditions.
Where to file the Pag-IBIG Housing Loan Restructuring and Penalty Condonation Program application?
- For NCR accounts, borrowers can file their applications at the Billing and Collection I or II Departments at the 2ndfloor of JELP Business Solutions Building, 409 Shaw Boulevard, Mandaluyong City.
- Borrowers whose accounts are with Pag-IBIG branch offices in the provinces can file their applications with the branch’s Housing Division.
The borrower has to fill out an application form for Loan Restructuring and Penalty Condonation. Pag-IBIG will also require borrowers who are over 60 years old at point of application and those whose outstanding loan obligation is over P2 million up to P3 million pesos, to accomplish a Health Statement Form.
For more details, you may contact:
Billing and Collection I Department
12th Floor JELP Business Solutions Building 409 Shaw Blvd., Mandaluyong City
Telephone Numbers 654-7276 or 654-6559
• Billing and Collection II Department
12th Floor JELP Business Solutions Building
409 Shaw Blvd., Mandaluyong City
Telephone Numbers 654-7241 or 654-7294
• the Pag-IBIG Fund provincial branch nearest you.
You may also contact the pag-IBIG Call Center at 7244244 (Metro Manila), email at firstname.lastname@example.org, or visit at their website, at www.pagibigfund.gov.ph.