Pag-IBIG Fund is urging occupants of its acquired properties to legitimize their tenure by purchasing the homes they currently occupy, now made more affordable through a 10 percent discount under its ongoing Acquired Assets Super Sale. Buyers may choose among three available payment options, namely cash, short-term installment, or a Pag-IBIG Housing Loan. The offer runs from Aug. 25 and ends on Dec. 14.
The offer applies to occupied properties currently in Pag-IBIG Fund’s acquired asset inventory, and forms part of the agency’s efforts to promote homeownership under the Marcos Administration’s Expanded Pambansang Pabahay para sa Pilipino, or Expanded 4PH Program.
“We are taking all available steps and launching the necessary initiatives to help Filipino workers gain homeownership, consistent with the vision of President Ferdinand R. Marcos Jr. in providing access to dignified and secure housing for all,” said Secretary Jose Ramon P. Aliling, chairperson of the Pag-IBIG Fund Board of Trustees and head of the Department of Human Settlements and Urban Development.
“We recognize that our members face different circumstances that call for tailored solutions. That is why we are addressing their varied needs through this campaign by giving current occupants of our foreclosed properties the opportunity to become legitimate homeowners.”
Under the program, eligible occupants who receive an Invitation to Purchase or Lease (ITPL) from Pag-IBIG Fund may buy the homes they currently occupy. Those who are issued an ITPL during the promotional period shall enjoy a 10 percent discount. They may choose to purchase the property through cash, short-term installment of up to 12 months, or a Pag-IBIG Housing Loan. For members opting to avail of the housing loan, those with limited income may apply with co-borrowers to help meet the required income. Meanwhile, original borrowers whose accounts were previously cancelled or foreclosed may also seek approval from the agency to qualify for another loan under the program.
“This is the best time for occupants of our acquired properties to take the step toward legal homeownership,” said Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta. “With the 10 percent discount under our Super Sale, they can purchase the homes they already live in at a more affordable price. This allows them to finally secure legal ownership of the property and enjoy the peace of mind that comes with it.”
Acosta emphasized that proceeds from these sales are plowed back into Pag-IBIG Fund’s programs, staying true to the agency’s founding principle of mutual benefit among members.
“Every peso we recover from these units helps us serve more members,” she said. “The amounts originally loaned out to acquire these homes came from the collective savings of our members. So when current occupants purchase these properties, the funds return to Pag-IBIG Fund and allow us to help even more Filipino workers who also dream of having a home of their own. This is part of how we continue to fulfill our mandate of making homeownership affordable for every Filipino worker.”
The Pag-IBIG Fund Acquired Assets Super Sale, launched in August, features more than 30,000 foreclosed properties with special discounts under various modes of purchase. For unoccupied properties, buyers may avail of up to 35 percent discount for cash purchases, up to 25 percent for installment terms, and up to 15 percent for housing loan takeouts. For properties that are occupied, discounts are up to 40 percent for cash payments, up to 30 percent for installment, and up to 20 percent for housing loan takeouts. Meanwhile, current occupants of foreclosed properties may purchase the homes they are living in through direct sale and enjoy a 10 percent discount.
Interested buyers may access the full list of properties and view the step-by-step process for submitting offers through Pag-IBIG Fund’s online platform at www.pagibigfundservices.com/OnlinePublicAuction.
