Pag-IBIG Foreclosed Properties

Pag-IBIG Fund, Davao branch has scheduled a bidding of their foreclosed properties this coming April 18, 2012. There are about 64 properties available for bidding. General guidelines for the bidding are as follows:

GENERAL GUIDELINES

1.            Interested  buyers  are reminded to conduct  an investigation and ocular inspection of the property/ies to determine  its/their actual condition before the scheduled bidding.

2.         Bidders are required  to secure  copies  of a)  INSTRUCTIONS  TO  BIDDERS  and   b)  BID  FORM  from  the   Acquired   Assets Management  and  Disposition  Unit,  HDMF  Davao  Branch,  2nd Floor,  Pryce  Tower  Condominium,  Pryce  Business  Park, JP Laurel Avenue, Davao City.

3.            Each  bid  shall  be  submitted  in  triplicate  copies  placed  in  a  properly  sealed  envelope and addressed to  the  HDMF Davao Branch-Committee on Disposition of Acquired Assets at  9:00 AM  on               April 18, 2012 at the HDMF Training Room,  3rd Floor,  Pryce Tower, JP Laurel Avenue, Bajada, Davao City immediately afterwhich, the said bids shall be opened in the presence of attending bidders.

4.         All   occupants  of  the  foregoing  acquired residential properties shall be given until  March 29, 2012  to  formalize  their  offer  and   shall  comply   all   the   requirements   not   later   than   April 10, 2012   otherwise,   the  property  they  are  occupying  will be included in the bidding. Occupants may  purchase the  unit  through  cash  or  housing loan;  1) provided  that backrentals have been settled  and   2)  provided  further   that,   in   case   of   purchase   of  the  subject   property   through   housing   loan,   the  eligibility  requirements  under  the  existing  housing  loan guidelines are met as supported by the Membership Status Verification Slip (MSVS).

5.                   Each  bid  must  be  accompanied  by  a  Pag-IBIG  Fund  Receipt  (PFR) original copy, reflecting payment  of the required  FIVE  PERCENT  (5%) minimum deposit computed  based  on  the  selling  price.  Such deposit shall form  part of the winning bidder’s  downpayment or shall be returned to the non-winning bidder without interest upon the completion of the public bidding.

6.                   The said FIVE PERCENT (5%) minimum downpayment may be paid on April 16 – 17, 2012.

7.                   The bidder who offers the highest bid shall be declared the winning bidder.

8.                   A tied highest bid shall be resolved by applying the following order of preference:

           a) Cash Offer

           b) Housing Loan

           If there is still a tie, it shall be resolved immediately by an open bidding between/among tied highest bidders.

9.                   In case there is only one (1) complying bidder for a particular property, he shall be automatically declared as the winning bidder.

10.               Properties shall be sold on  an  “AS IS WHERE IS BASIS”   and the winning bidder shall take possession of the property without seeking assistance from HDMF Office upon signing of the contract.

11.               No bid below the minimum bid price shall be accepted.

12.               No property swap-arrangements shall be allowed as consideration for the sale of the property being offered.

13.               Acquisition of Pag-IBIG   Fund acquired properties  may  be  purchased through CASH or financed through Pag-IBIG HOUSING LOAN, for Pag-IBIG member.

     In case of housing loan, loans up to P 750,000.00 shall be subject to a loan-to-collateral ratio of one hundred percent (100%) while loans over P 750,000.00 up to P 2.0 million shall be subject to a loan-to-collateral ratio of ninety percent (90%).

14.               A bidder who may purchase the acquired property through Pag-IBIG HOUSING LOAN shall  submit together with the BID FORM his/her duly approved MEMBERSHIP STATUS VERIFICATION SLIP (MSVS).   (To secure an  MSVS  attend  a housing loan seminar on a  Saturday 9:00 AM at the Pag-ibig Fund Training Room, 3rd Floor Pryce Tower, Bajada, Davao City).

15a.   The winning bidder shall be required to pay in full the remaining balance  of the bid price within FIVE(5) WORKING DAYS from the date of the receipt of the  Notice  of  Award,  if  the  mode  of  payment  is  through  cash  or  shall be required to comply the  housing loan  requirements   within   FIFTEEN  (15)   WORKING   DAYS   from   the  date  of the receipt of the Notice of Award if the mode of payment is through  Pag-IBIG housing loan.

15b.    The   winning  bidder   who   fails   to  pay  in  full  the  remaining  balance  within five(5) working days or fails to submit/comply the housing  loan requirements  within   fifteen (15)  working  days  shall  lose   his   right   as   the   winning   bidder.  The five  percent (5%) deposit of  payment  shall  be forfeited  in   favor  of  the  Fund.  Such  amount  shall  be  treated as liquidated damages and HDMF shall declare the next highest bidder as the winner.

16.       A twenty  percent (20%)  discount of the bidder’s bid price shall be given to the winning bidder who will  pay  the  subject   property  in  cash. However, if payment shall be made through housing loan, HDMF shall grant a discount of fifteen percent(15%) only.

17.      Individual  bid  application shall  be  signed  by  the bidder himself  or  his  duly  authorized representative (supported by a Special Power of Attorney  (SPA)  while  applications  by  a  Partnership  or  Corporation,  the  officer  duly  authorized  in  a  resolution  adopted by the Partner’s or Corporation’s  Board  of  Directors  for the purpose  (supported  by  a  Secretary's  Certificate).  Bid  quotation  must be written both in words and in figures.

18.      Prospective bidders are hereby enjoined to inspect for themselves the site,  title and encumbrance, if any,  to  the  real  properties described above. Consequently,  all  bids  shall  be  submitted  under  the condition  that  HDMF  shall  in no case be liable for breach of any or all legal or contractual warranties including among others, warranties against hidden defects and against evictions.

19.      Except  for  the  creditable  withholding  tax,  all  expenses   incidental   to   the  sale  and  transfer  of  ownership  shall  be  for  the account of the winning bidder, including the ejectment of squatters and/or occupants, if any, from the property, subject of the bid.

20.      No addition to or deletion of the conditions stipulated  herein  shall  be  made  by the bidder. HDMF reserves the right to reject any and all bids for non-adherence to its bidding rules.

21.         The sale to the highest bidder shall be confirmed by the Pag-IBIG FUND COMMITTEE ON DISPOSITION OF ACQUIRED ASSETS.

HDMF RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS, TO WAIVE ANY FORMALITY THEREIN, TO ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE FUND OR TO CALL OFF A BIDDING PRIOR TO ACCEPTANCE, AND CALL FOR A NEW BID UNDER AMENDED RULES. THE DECISION ON THE BID IS FINAL AND BINDING.

As to the list, it is available at the Fund’s website at www.paibigfund.gov.ph or you may contact the Acquired Assets unit of Davao Branch at telephone number 2244733 or email address at davao_lcmrd@yahoo.com

Penalty Condonation For Employers

If you have not yet registered your business establishment and your employees with Home Development Mutual Fund/Pag-IBIG Fund or have been delinquent/inactive in your employees’ contribution remittances, the Fund is now offering the penalty condonation program beginning January 1, 2012 until June 30, 2012.

With this program, all incurred penalties by the employers whose application for penalty condonation has been approved shall be condoned upon updating of contribution remittances.

Eligible employers who fail to avail of this program shall continue to incur penalties on their unremitted contributions and shall be held criminally liable and shall be prosecuted in accordance with the penal provisions of RA9679.

Go to the nearest Pag-IBIG Fund branch to avail of this program, contact details can be found at www.pagibigfund.gov.ph

How To Get Pag-IBIG member ID

Sometime last year of 2010, Pag-IBIG Fund has issued transaction cards for its members. The cut-off date was October 2008. Pag-IBIG members who paid on that date were issued their transaction cards. However, the printing was stopped and for those who were not issued their Pag-IBIG IDs, they were in a quandary where to go.

For members who were not issued their Pag-IBIG IDs, there are two options to do it:

One is to go to the nearest Pag-IBIG branch and submit two (2) copies of their Member’s Data Form. The Member’s Data Form is available in all Pag-IBIG branches and it is also downloadable at www.pagibigfund.gov.ph. Just go to the downloadable forms and accomplish two copies. Submit two (2) accomplished Member’s Data forms at the Marketing & Enforcement Division and request for the schedule of the availability of the Pag-IBIG ID number.

The next option is to do it online which is more advisable, faster and more convenient.

Hereunder are the steps: (Note: Use Internet Explorer browser for better compatibility).

Step 1: Log on to www.pagibigfund.gov.ph
Step 2: Click on Member Services button at the middle part of the page.
Step 3: Click on Online Membership Registration. Choose the button “Register as New Member” and “Continue”. Key-in the complete data.
Step 4: Click Submit and print Member’s Data Form.
Step 5: At the upper left hand corner of the printed Member’s Data Form, take note of the Registration Tracking Number for reference. After a few days (3 days to one week), log in again to www.pagibigfund.gov.ph and repeat Steps 1 and 3 but choose the button “Update information using Registration Tracking Number” and “Continue”.
Step 6: Using the Registration Tracking Number (RTN) from your printed Member’s Data Form, click PRINT. Print two (2) copies. One copy should be submitted to Pag-IBIG Fund, Davao (Marketing & Enforcement Division) for reference and one copy should be retained at your end for your file. The Pag-IBIG member identification number is on the upper right side of the Member’s Data Form.

Online registrations are given priority in the issuance of the Pag-IBIG member identification number while those who opted to just let the branches to the encoding considering most branches are short in manpower.

Pag-IBIG Foreclosed Properties On Big Discounts

Pag-IBIG is extending the granting of big sales discounts on HDMF acquired assets up to 14 October 2011. Buyers can enjoy discounts of up to 30% on the sales price of some units when purchasing in cash. Qualified Pag-IBIG members may avail of a housing loan at easy-payment terms to buy the properties.

For more information, interested parties may call the Pag-IBIG Acquired Assets Department at telephone numbers 8114362, 8114311, 8114277, or the Pag-IBIG Call Center at 7244244 during regular office hours.

To view the complete list of the properties for sale, interested buyers may visit the HDMF website, www.pagibigfund.gov.ph, and click on "Housing Fair 2011 Properties"under Property Finder.

Calamity Loan For Davao Flood Victims

Finally, a resolution has come out from the City Government of Davao declaring five barangays as calamity areas due to the floods that occurred last June 29-30, 2011. The barangays are: Talomo, Matina 74-A, Matina Pangi, Matina Aplaya and Ma-a.

Subsequently, Pag-IBIG Fund is now allowing its members to avail of a calamity loan.

Member’s Eligibility Requirements for Pag-IBIG Calamity Loan:
-Has made at least twenty-four (24) monthly contributions
-Has five (5) monthly contributions for the last six (6) months as of month prior to date of application
-If with existing MPL and/or Calamity Loan, the account must not be in default as of the date of loan application. Their outstanding balance including penalties, accrued interests shall be deducted from their loan proceeds.
-Is a resident of the calamity-stricken area and is affected by the impacts of such calamity.

Documentary requirements:
-Duly accomplished Calamity Loan application form
-2 valid IDs
-Duly accomplished Declaration of being affected by calamity-form available from nearest Pag-IBIG branch (if employed) or Barangay Certificate (if self-employed)
-Approved declaration of calamity-stricken areas from the Office of the President of the Sangguniang Bayan.

Everyone involved has learned from this flooding experience. City Government should invest more in case management certification, and maybe more accounting certifications as well.

Pag-IBIG Fund to give out P7.88B in dividends to members

Pag-IBIG Fund to give out P7.88B in dividends to members This is really good news for Pag-IBIG Fund members.  I wonder now what percentage is the dividends for Pag-IBIG regular members and at the same time, I wonder too what is the percentage for modified Pag-IBIG II members? Last year, the dividends for the regular membership was pegged at 5% and 5.5% for Modified Pag-IBIG II members. I'm hoping it will increase this year.

Pag-IBIG contributions are exempted from tax which is such a big help for its members.

Pag-IBIG Fund files charges against 23 companies

Twenty-three (23) companies in Cebu City are facing complaints for failure to remit the monthly contributions of their employees to Pag-IBIG Fund.

These companies have violated the provisions of Presidential Decree (PD) 1752 as amended by Republic Act (RA) 7742 and RA 9679 which mandates employers to register all Social Security System (SSS) or Government Service Insurance System (GSIS)-covered employees with Pag-IBIG, set aside employer counterpart contributions and remit these to the Fund.

Pag-IBIG Fund Cebu has repeatedly sent demand letters to these erring companies but the proprietors continue to disregard the notices.  This prompted Pag-IBIG Fund Cebu City Branch to take legal action. Most of the complaints are now pending with the city prosecutors’ office while some have been elevated to the court.

There are cases that were already settled as the owners agreed to pay their dues even before the prosecutor recommends the filing of the case. There were also complaints dismissed due to lack of evidence but Pag-IBIG Fund Cebu filed a motion for reconsideration and is gathering more documentary evidence to tighten the case.

Portia V. Bacalso, Chief of Marketing and Enforcement Division, said that Pag-IBIG Fund Cebu will continue its intensified monitoring and will not hesitate to file complaints against other companies violating the law.

Lump Sum Pag-IBIG Membership Until September 30, 2010

For those who are interested to avail of a Pag-IBIG housing loan, Pag-IBIG Fund is allowing individuals to enroll and make a lump sum payment equivalent to twenty-four months of membership contributions on or before September 30, 2010. The housing loan application with complete set of documents must be filed on or before December 29, 2010.