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TOPIC: Notice of Cancellation of Housing Loan

Notice of Cancellation of Housing Loan 7 years 3 weeks ago #9

Good day!
I am very worried on our PAGIBIG Housing Loan, I am in default on payment for 9 mths. Yesterday, I received notice for cancellation of Housing Loan. The Loan covered with CTS with SPA (with Buyer's Conformity). that failure of payment of 3 mths with 60 days grace period, will be considered in default. Also stated in the letter is that after 30 days upon receipt of the letter we must vacate and surrender the house.
I don't know what to do.. I am thinking that when I go to PAGIBIG I will proposed plan of payment to settle the account. Currently the amount due is P 243,000.00.
What is the best thing I can do now? Please help me.. PAGIBIG wanted me to pay the 50% of the amount due.. as of now I don't have 122,000.00 to pay with pagibig.
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Notice of Cancellation of Housing Loan 7 years 3 weeks ago #11

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Good day Miriam,

How long have you been paying your housing loan to Pag-ibig? How many payments have you already made?

I am not quite familiar with contracts under the Pag-ibig housing loan program so I think it is best if I can see it myself.

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