What is Foreclosure Philippines? Foreclosure Process & Investing in Foreclosed Properties

[@MaeconRenomeron]

Congratulatioooons Ms. Me-An!

[@OwnPropertyPH]

Thank you 🙂💕

[@chillinbern141]

Congrats po, have a blessed life ahead!

[@OwnPropertyPH]

Thank you po 😊💕

[@W1NTERMELON]

Welcome back po and congrats 😁

[@OwnPropertyPH]

Thank you so much 🥺😊🥰

[@genefreaksdaily8813]

Madam pwede po humingi Ng advice... Kpag ung may ari Ng unit ay nasa IRAN...Pwede npo ba ung SPA ung humawak Ng pagbebenta Ng property? May prinisent npo Sila na titulo,tas updated po ung property tax at condo dues...magandang scenario npo ba Yun? maraming salamat po

[@prosepraises8519]

Thanks for your explanation. It was very thorough and easy to understand 👌

[@OwnPropertyPH]

Thank you for your positive comment. It's a great affirmation for me 😊

[@masterpogitv4222]

congrats for being married best wishes to the both of you mam me- anne

[@OwnPropertyPH]

Salamat po 😊

[@titser498]

New subscriber here. Thank you po Ma'am for the information 💓

[@OwnPropertyPH]

Thank you so much for subscribing and glad you found the information helpful 😊

[@lloydydydy]

My favorite real estate broker is back 😍

[@OwnPropertyPH]

Thank you 😊💕

[@dotawtfph3250]

Big help.

[@kristinejoiegonia7589]

Hi ma'am 👋 I'm so thankful dahil nkita ko itong vedio mo I been searching po kasi sa problem namin regarding sa property namin na na foreclosed. Advice po sa amin ng Landband dahil gusto namin ma redeem ulit yung property yung first step po Pina pagawa kami ng intend letter. Pwd po ba mag patulong how to write the intent letter in tagalog form kung ano po ang magand isusulat. Sana ma pansin niyo ito. Thank you!

[@kristinejoiegonia7589]

Intent

[@OwnPropertyPH]

Hi, ma’m, kung in English po yung letter of intent, makakatulong ako pero kung in Tagalog form, mahirap po para sa akin kasi hindi ko rin alam paano tatagalugin yung ibang words like redemption, breakdown of fees, etc. Also need po ng details para makagawa ng maayos na letter 😁

[@kristinejoiegonia7589]

@@OwnPropertyPH Hi ma'am thanks po sa reply send ko po lahat ng details yung name and address cut ko lg po! Bali dito po Namin i-send sa name below okay lg po kahit taglish po salamat po yung Pina purpose po namin paano Maki usap ng maayos para ma redeem namin yung lupa na na foreclosed na. Salamat! TO: Margarita C. Laureano Assistance Vice President The Spicial Assets Department Land Bank of the Philippines M.H. del Pilar cor. Dr. Quintos Sts. Malate, Manila This certificate of title is totally canceled Date of instrument July 11, 2002 Date of inscription September 06 2002 Mortgage in favor of the Land Bank of the Philippines to secure the payment of the sum of 607,000, plus interest and other obligations arising there under the mortgagor Memorandum of encumbrance Certification of full payment in favor of -------- Certification of full payment of land amortization issued by Richelieu D. Ballicena manager, Land Bank of the Philippines certifying that the had paid in full value of the lot described14,744 square meters situated in the barangay of Bta. Rizal,-------------- Register of deeds Resolution in favor of --------- and ---------- Resolution executed by b Brgy. Zamora Multi Purpose Cooperative in favor of ---------and ---------to apply for transport facility loan with the Land Bank of the Philippines Date of inscription Oct. 21 1993

[@elsiezuniga1433]

Salamt

[@yellowheart91]

Hello maam ask ko lang po pag nasa acquired asset na yung bahay nmn forclosed po. Sabi ni pag ibig abangan daw po nmn sa bidding. Hindi na po ba nag oofer si pag ibig sa owner bago i bid po? Salamat sa pag sagot po.

[@OwnPropertyPH]

Hi, ang alam ko pwede po kayong mag-file ng Notice of Withdrawal of Foreclosure Petition sa RTC bago ng scheduled auction sale kapag kaya mong bayaran ang LAHAT ng sumusunod: • lahat ng atraso sa bayad • buong bayad sa natitirang balanse sa loan o meron kapang approval para sa housing loan remediation program • pambayad sa filing fee, Sheriff’s fee, notarial fee, publication expenses, legal research fee, attorney’s fee at iba pang incidental expenses 🙂

[@maimaro1754]

Hello! My condo in Twin Oaks Place Shaw in front of Shangrila Edsa is for sale at a very low price of 4.7m .. current price is 6m. Studio 32sqm

[@OwnPropertyPH]

Is that West or East? I know that’s a good deal. I actually live at TOP East now 😁

[@christahopecorros9440]

Mam magkano po magagastos sa pagpapa foreclose ng lupa?

[@bmerbrime3470]

May may tanong po ako sana masagot nyo po and kung ano pong magandang gawin. May kinuha po kase kaming bahay thru pagibig bayad na po ang equity at more than a year na din kami nagbabayad ng M.A. pero d pa po namin inaaccept kase may mga for rectification. May delay po ako ng 4 months kase may mga months ako na hinde nakakabayad due pero hinde naman po consecutive ung months na d ako bayad. Ngayon po nakakabayad na naman po kami ng sunod sunod kase hinde ko pa po mahabol ung delays ko. Pinadalhan na ako ng collection agency ng final and last notice para magbayad ng at least 3 months. Ang tanong ko po dapat ba na si collection agency ba ang nagpadala ng final notice or si pagibig? Balak ko naman habulin ung delays ko within the year, inuna ko lang tlga ung ibang expenses ko. Sana po masagot nyo and may maaadvice po kayo mam. Salamat po

[@ajmejoradoful]

Hello mam pag lot lang po ang foreclosed na bibilhin nacheck na po ang property at unoccupied mas less po kaya ang hassle nun kesa sa may nakatayong bahay?

[@OwnPropertyPH]

Opo, mas ok po ang vacant lot kaysa sa nakatayong bahay kasi less problem po at less gastos. Mamaya kasi yung bahay natayo pala na hindi sumusunod sa building code po

[@xtinesseries]

Hi I just wanna ask kasi my friend is a co-barrower to her sister but her sister failed to pay the monthly bill for 7 months na and they received a letter na. She wants to know if ma ban/block sya sa pag ibig if ma foreclose na yung house ?

[@OwnPropertyPH]

Hello, hindi naman ma-ban/ block kasi patuloy ang pag-ibig contribution po kahit na foreclosed ang house

[@Famaly]

Hello ma'am..This is a helpful video for us since we are planning to purchase a foreclosed house. Ask ko lng ko under Balikatan kasi ung bahay sabi ng Balikatan wait daw po kami ng notice of eviction then mapapa alis po ung illegal occupants in 5 days. What's the next move po if hindi tlga sila aalis? Should we file na case na?

[@OwnPropertyPH]

Yung dad ko hawak foreclosure rin at bumibili rin siya sa Balikatan. Ang kadalasang ginagawa niya ay nagbibigay ng settlement kasi kahit may civil action of ejectment may mga matitigas yung ulo o ayaw talagang umalis. Kung ikaw na po absolute owner, you can file a petition then bibigyan ka ng cour ng writ of possession para yung Sheriff ang tutulong magpaalis 😊

[@Famaly]

@@OwnPropertyPH We hope we could purchase the property asap but as per bfs policy we need MOA signing between original owner and us pero ayaw mag cooperate ni original owner so last resort daw wait ng notice or eviction that was filed by bfs.

[@AnthonyBSulla]

Nagpapalayas po ba si pagibig fund kapag hindi na nakakabayad ng housing loan? May ❤ po ba si Pagibig fund sa mga minimum wage ernier na no work no pay?

[@OwnPropertyPH]

Hi, three months of no payment bago po ma-tag ang property as foreclosed. Pagkatapos ma-communicate sayo at hindi ka pa rin makapagbayad, may sheriff na pupunta para sabihan kang umalis. Bago pa umabot sa ganyan, kapag naapektuhan ka po ng COVID-19 at hindi lagpas P 750,000 yung hiniram niyo po, pwede kayong mag-apply for 3-month moratorium. Ang moratorium po ay postponement of payment or extension of payment due date, na ang resulta ay ang pagpapahaba ng loan term. Kapag naka-receive ka naman po ng Final Demand Letter, pwede ka pong mag-avail ng loan restructuring program 😊

[@AnthonyBSulla]

@@OwnPropertyPH ok po salamat. Pera pera rin po pala dyan kay pagibig fund. Kaya pala ung mga mapepera mahal na mahal ni pagibig fund kasi palage sila updated at advance sa pagbabayad 😂. Kawawa naman ung mga tlgang gipit.

[@OwnPropertyPH]

@@AnthonyBSulla Hindi po. Mas marami po silang palugit sa mga gipit kaya may moratorium. Meron din po silang Affordable Housing Program para sa minimum wage earners. So mas favorable po yung PAG-IBIG sa minimum wage earner. Kadalasan yung may pera naman po sa bangko umuutang 😊

[@AnthonyBSulla]

@@OwnPropertyPH sana nga po ganun. Last year lang naman po sila nag moratorium wala na kasunod. Salamat po 😀

[@budingtv5269]

Ask ko lang po newly po ako for pag ibig housing loan but delayed po ako Ng 5 months automatic po ba for close?

[@OwnPropertyPH]

May matatanggap po kayong final/ demand letter po 😊

[@Nsandrei]

Question: if property was foreclosed, does the mortgagor also loses the right to posses the property during the redemption period?

[@OwnPropertyPH]

Hi, if it's an extrajudicial foreclosure then the mortgagor loses the right to possess as soon as the property once the Certificate of Sale has been registered. However, for judicial foreclosure, there is no right of redemption as there is only equity of redemption which means that while the mortgagor exercises his right to pay the proceeds . This means that after the foreclosure sale but before its confirmation, the mortgagor may still be in possession as he exercises his right to pay the proceeds of the sale and prevent the confirmation of the sale. Disclaimer: I'm not a foreclosure expert or even a lawyer so please don't take this as a legal advice. I'm only sharing what I know so far and what my dad has shared to me.

[@aaappp3202]

Hello po. Just want to ask kung paano po makakapaginspect ng foreclosed condo to do due diligence. Sino po ang lalapitan para makapasok sa unit or makausap yung homeowners association nila.

[@OwnPropertyPH]

Need mo pong tawagan yung designated bank officer or kung mahirap ma-contact, punta ka po sa acquired assets department ng bank tapos magpa-schedule ka ng tripping. Kapag condo, hindi po kasi basta basta ngpapasok at kahit makapasok ka, hanggang labas lang po ng unit kapag walang susi 😊

[@elsiezuniga1433]

Ma'am pwede po mag tanong nag padla po s attorney ng pag ibig ng for close sure babayaran ko is 13,k paano po kaya un pasagot nmn po

[@OwnPropertyPH]

Clarify ko lang po na for foreclosure na po yung property niyo po? Kung gusto niyo pong ma-save property niyo po, ipasok niyo po sa loan restructuring program

[@shelee5919]

Hello po Lodi tanong ko lang po what if po Nov.19 na cancel ung condo unit in house financing naman po ang case Lodi. Frm Nov 19 po n pinadala ung Letter of cancellation up to now na wala p po 120 days pwede mabawi ni owner ang condo unit nya? Nka saad po sa forclusure rules n binibigyan si buyer ng 120 days pra m settle ang balance nya para sa kanya prin ang nbili nyang unit. tama po b ang pagkaka intindi ko Lodi n pwede p i settle po ung lahat ng balance nya pra po d tuluyan ma forclose unit nya at itutuloy lang nya same ng pagbbyad nya until ma fully paid nya condo unit nya.Sana po mapansin nyo Lodi ang message ko maraming salamat po god bless po Lodi

[@OwnPropertyPH]

Hi, kapag inhouse financing po, depende po sa nakasulat niyong agreement po. Ang alam ko po cancellation of the sale takes effect after 30 days of receipt of notice of cancellation. Yung foreclosure rules na binanggit niyo po ay Judicial Foreclosure under Rule 68, Rules of Court na hindi po applicable . Best to talk to the developer kung anung pwede pang mabawi ang cancellation po. God bless po 😊

[@shelee5919]

@@OwnPropertyPH thank u po lodi....on my way po kay developer

[@yumreyes4741]

pati po ba sa mga foreclosed lot ay mas mababa yung equity sa bank?

[@OwnPropertyPH]

Hello, pasensiya na po, hindi ko alam ang exact na sagot po diyan 🥺 Usually kasi kapag maganda yung lot auction po siya so cash siya nabibili po. Kadalasan nung may magandang financing terms, with improvement na yung lot (meaning may structure na) pero hindi maintained o merong problem po. Best to ask din someone who works at a bank’s aquired asset management group/team/ department po 😊

[@rhoelg]

nagpa sakal na, ka swerteng lalaki naman ni mister hehe

[@OwnPropertyPH]

Hindi naman po ako nasakal 😆 Sobrang happy ko nga po. Swerte rin naman po ako sa mister ko kasi napaka-supportive 😊

[@maureenpua6581]

Hi, just need to know if under PAG-IBIG and foreclosed yung property kelangan pa ba ipa survey ng considered illegal occupant para daw mabawi nila, sila yung dating naghuhulog pero 20+yrs ng di nila nabayaran kaya na foreclosed.

[@OwnPropertyPH]

Ma'm, kung 20+ years nilang hindi nabayaran, matagal ng foreclosed po iyan at marahil matagal naring binebenta nung PAG-IBIG. Baka mahirap paalisin po yung illegal occupant. May mga ganun kasi po na occupant, nakikipagmatigasan. Ituloy niyo lang ang pagbili kapag may experience po kayo sa pakikipag-deal sa mga illegal occupants o meron kayong connection sa mga taong kayang makatulong sa ejectment e.g. sheriff, police, etc.

[@rosemarieadonis5797]

Mam ask ko lang po if may chance pa po ba marecovery ang housing loan namen kahit may letter na po na for force close na po ung bahay

[@OwnPropertyPH]

Meron pa po. May 1 year ka po para ma-redeem doon sa nanalo sa auction o sa bumili ng bahay mo po. Pero para ma-redeem mo po babayaran mo lahat ng binayad niya po plus interest and other charges 😊

[@itspasawayfambam501]

I learn a lot

[@OwnPropertyPH]

Great to know po 💕

[@shoptosawa]

Maam ask lng po if 5 months delay po ung housing loan payment,at nagbayad po ulit ako bago mag 6 months delay,hindi pa po ba foreclose un?kasi wla namang email or twag si pag ibig sa akin. Salamat po

[@OwnPropertyPH]

Kung wala pa po kayong na-receive na notice of foreclosure then baka hindi pa naman po foreclosed property niyo. Pero para sure magandang tanungin niyo pa rin si PAG-IBIG baka hindi lang nila napadala po 😊

[@maaariiiaaasabz4259]

Gaano po katagal binibigay na time/palugit ng bank before ma-foreclose yung property?

[@OwnPropertyPH]

Hi, hindi ko pa po na-experience so ang ma-share ko lang ay kung ano yung sa contract with the bank. Ang alam ko po may ibang bangko na kapag hindi ka nakapagbayad sa first month, penalty palang muna. May iba rin na pumapayag sa compromise agreement at gumagawa ng restructural loan proposal kasi as much as possible ayaw nilang mag-foreclose dahil idle asset yun. Pero supposedly after 30 days or 1 month of missed payment, pwede na silang mag-foreclose.

[@maaariiiaaasabz4259]

@@OwnPropertyPH Thank you so much for the response po, very helpful po mga videos mo 🥰

[@teachermayam]

@@OwnPropertyPH Hi Maam ano po ibig sabihin ng kapag hindi nakapag bayad sa first month? Like kapag nakapag skip lng kami ng 1 month na di kami nagbayad sa bank? or you mean to say after a month ng pgpapadala sa amin ng notice na forclosure na ung property. We called the bank, sabi niya I can still settle ung unpaid balance since di pa nafafile ng banko ung forclosure then tuloy hulog ulit. mag 1 month ngaung Oct 21 ung notice of forclosure. Binibenta namin ung bahay pero by Oct 24 mkkpagbayd na kami ng unpaid balance namin..

[@teachermayam]

@@OwnPropertyPH In our case po kasi 14 mos na kaming unpaid sa bank, pero sabi ng nila mahahabol pa kung mababayaran lang ung unpaid balance then tuloy hulog sa banko. Pero may notice of foreclosure.

[@dianadaenerys028]

@@teachermayam hello ma'am, ano na po nangyari sa property nyo po ngayon? I also received din po kasi ng notice from the bank. Thank you ❤

[@erwinneo0000]

Kapag na foreclosed property na po ba ang bahay pwede pa din magstay ang former owner habang nasa redemption period?

[@OwnPropertyPH]

Dapat hindi na po magstay ang former owner, kasi ang possession at control ay dapat na sa bagong owner na. Ang redemption period ay panahon na ibinibigay lamang na bilhin ulit ang property hindi ang karapatan na manirahan pa rin sa foreclosed na tirahan

[@barianelozano2614]

Bakit ganun nalunkot ako bigla nung sinabe nya ikakasal na sya 😔 hahahaha!!

[@OwnPropertyPH]

😅 civil status lang naman po ang nagbago 😁