The Market Monitor Minding the Nation's Business
The Pag-IBIG Fund has launched its Acquired Assets Super Sale, offering more than 30,000 foreclosed properties nationwide at discounts of up to 40 percent to make homeownership more affordable for Filipino workers.
The nationwide sale, which began on Aug. 25, will run until Dec. 14 and covers both occupied and unoccupied properties.
Occupied units are available at discounts of up to 40 percent for cash buyers, 30 percent for short-term installment payments, and 20 percent for housing loan purchases.
Unoccupied properties are offered at 35 percent off for cash, 25 percent for short-term installment, and 15 percent through Pag-IBIG housing loans.
The Super Sale features higher discounts than previous programs and is open to both members and non-members, including current occupants of foreclosed units. To expand participation, Pag-IBIG will release weekly lists of available properties until the program ends.
Pag-IBIG also offers a 10-percent discount for current occupants who choose to purchase the homes they are staying in.
Buyers may opt to pay in cash, short-term installment of up to 12 months, or through a Pag-IBIG Housing Loan. Even original borrowers with canceled or foreclosed accounts may qualify under the scheme.
Eligible Pag-IBIG members, especially minimum- and low-wage earners and overseas Filipino workers, may further benefit through the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, which provides a subsidized 3 percent interest rate on housing loans for the first five years.
Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling said the Super Sale helps integrate foreclosed properties into the 4PH housing pipeline, expanding access to affordable and ready-for-occupancy homes for Filipino families.
Meanwhile, Pag-IBIG Fund also recognized its top-performing employers, developers, and collection agencies in Mindanao during the last leg of its Stakeholders’ Accomplishment Report (StAR), a platform to update partners on its accomplishments and honor stakeholders who contributed to its housing mission.