Hi! Welcome to my blogspot.
I just want to share to you the not so latest update from Pag-Ibig the "PASALO" which I inquired recently because I am also offering my townhouse unit and so to help the buyer and the seller of the process and requirements please read.
Dear Miss A:
This refers to your inquiry regarding your Housing Loan Availement under Assume Balance (Pasalo).
Please be informed that the Pag-IBIG Fund doesn't have an assume balance anymore on mortgaged properties (Assumption of Mortgage) or what others called as 'pasalo'. The new process is now called repurchasing.
Below is the Checklist of Requirements for Repurchasing:
1. Housing Loan Application Form with recent ID photo of borrower/co-borrower (if applicable) (2 copies, HQP-HLF068/069)
2. Proof of Income
3. One (1) Valid ID with signature (photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Attorney-In-Fact. Any of the following:
✓ Passport,
✓ Driver’s License,
✓ Professional Regulation Commission (PRC) ID,
✓ Integrated Bar of the Philippines (IBP) ID,
✓ National Bureau of Investigation (NBI) Clearance,
✓ Police Clearance,
✓ Postal ID,
✓ Voter’s ID,
✓ Government Service Insurance System (GSIS) e-Card,
✓ Social Security System (SSS) Card,
✓ PhilHealth Card
✓ Senior Citizen Card,
✓ Overseas Workers Welfare Administration (OWWA) ID,
✓ Overseas Filipino Worker (OFW) ID ,
✓ Seafarer’s Identification and Record Book (SIRB),
✓ Alien Certification of Registration / Immigrant Certificate of Registration,
✓ National Council for the Welfare of Disabled Persons (NCWPD) Certification,
✓ Department of Social Welfare and Development (DSWD) Certification,
✓ Government Office and GOCC ID (e.g.AFP ID, Pag-IBIG Loyalty Card)
4. In case of discrepancy in personal details of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller/s and Spouse/s (e.g. name, date of birth), Notarized Affidavit of Two Disinterested Persons.
5. Transfer Certificate of Title (TCT)/Condominium Certificate of Title (CCT) (latest title, 2 complete photocopies of all the pages of the title).
✓ In case of lot
a. with a minimum lot area of 28 square meters
b. with access road, minimum width of 1.5 meters
c. minimum lot width frontage of 3.5 meters
✓ In the case of CCT, with a minimum floor area of
18 square meters. If less than 18 square meters, submit Single Occupancy Permit from HLURB
✓ Must be free from liens and encumbrances
6. Updated Tax Declaration (House/s and Lot/s) classified as residential and Updated Real Estate Tax Receipt/s as of the quarter
immediately preceding the date of application (2 copies, photocopy)
7. Contract-to-Sell or similar agreement between the buyer and seller (1 original copy)
8. Vicinity Map/ Sketch of the Location of Property showing landmarks (1 original copy)
9. Insurance Coverage
a. Health Statement Form (Medical Questionnaire) (1 original copy)
▪ For borrowers over 60 years old
▪ For borrowers up to 60 years old, if the loan is over P2.0M to P6.0M
b. Health Statement Form (Medical Questionnaire) and Copy of the result of a medical examination conducted prior to assignment overseas as required by the employment agency (1 photocopy)
▪ For OFW borrowers over 60 years old
10. (If with outstanding Housing Account with Pag-IBIG Fund)
▪ Notarized of application for a New Housing Account (HQP-HLF-409) with signature of other borrower/s of the existing housing account on the "Conforme" portion of the notice signifying their consent and awareness to the policies on availment of multiple housing in Pag-IBIG Fund. (1 original copy)
For Properties Purchased from a Developer/ Corporation/ Association - License to Sell and Certificate of Registration (Applicable to Developer only)(1 photocopy)
✓ Secretary’s Certificate on the Authorized Signatory of the Developer/Corporation/ Association (1 photocopy)
✓ One (1) valid ID of the Corporate Secretary and Authorized Signatory of the Developer/ Corporation/ Association (1
photocopy, back-to-back)
11. Notarized Special Power of Attorney (SPA) of the borrower/s and spouse or seller/s and spouse (1 original copy, 1 photocopy)
12. For OFW Members
✓ For SPA executed and notarized in the Philippines, including a photocopy of passport/ seaman’s book reflecting the entry date and/or exit date to/from the Philippines (1 original copy, 1 photocopy)
✓ For documents executed abroad (1 original copy)
▪ For Non-Apostille Countries
✓ SPA duly authenticated by a Philippine Consular Officer, or SPA notarized by a local notary (of the country where the member is
working) but duly authenticated by a Philippine Consular Officer
▪ For Apostille Countries
✓ Apostille SPA
NOTE: the provided requirements may be changed depending on the Housing Business Center (HBC) assessment of your cases and In all instances wherein photocopies are submitted, the original document must be presented for authentication.
In this new process, the seller offers the buyer of the total amount of the mortgaged property to return the price of the sale for which it will be repaid by the second borrower. The seller has the option to have it on installment or if he/she requires a deposit depends on what the agreement will be between them. The remaining balance of the housing loan can now be loaned to the Fund by the second borrower.
Our Pag-IBIG offices are open from Mondays to Fridays (except holidays), from 9:00 am to 4:00 pm. Please be advised that for everyone safety, government-issued health protocols and standard will be strictly observed.
NOTE:
- Other Branches inlucuding Cebu are still open and operational.
NOTE:
- Pag-IBIG Fund branches in Metro Manila, Cavite, Bulacan, Laguna, and Rizal will temporarily close its doors while these areas are under Modified Enhanced Community Quarantine (MECQ) from August 04 to 18, 2020.
Your email transaction reference number is 4849035. Kindly indicate this when making further inquiries or follow up.
Thank you for communicating with us. It has been our pleasure to assist you. Please feel free to contact us once again should you have other concerns, suggestions, or feedback regarding your Pag-IBIG Fund benefits. You may also reach us through the following contact points which are ready to serve you 24/7.
24/7 Pag-IBIG Fund Hotline: 8-724-4244 (8-PAG-IBIG)
Email Address: contactus@pagibigfund.gov.ph
Through Chat by visiting our website: www.pagibigfund.gov.ph
Ang inyong Lingkod Pag-IBIG,
JE Cuñado
ADVISORY: To ensure the security of your transactions with Pag-IBIG Fund, we will be requiring you to provide your 12-digit Pag-IBIG Fund Membership ID or MID number. Pag-IBIG Fund members may secure and verify their MID number by calling the Pag-IBIG Fund Hotline at 8-724-4244 (8-PAG-IBIG) or sending an email to contactus@pagibigfund.gov.ph.
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