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Mortgages in the Philippines

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c_a_p_t_a_i_n_r_o_n:
Gloria and I looked into PAG-IBIG in 2008, for slightly different reasons........your wife can join as a member but won\'t qualify for loan unless she has verifiable job or business income.

:

--- Quote from: c_a_p_t_a_i_n_r_o_n on August 08, 2010, 02:29:14 PM ---Gloria and I looked into PAG-IBIG in 2008, for slightly different reasons........your wife can join as a member but won\'t qualify for loan unless she has verifiable job or business income.

--- End quote ---
I don\'t see her getting any sort of a job in the near future actually, so it may be a non-starter for us.

We have a niece living with us, a nurse, who might avail, but that is when it starts getting complicated with property rights etc. Might be better just to scrat together all my little chunks of savings and get some land bought. House can come later.

dylanaz:

--- Quote from: King Herald on August 08, 2010, 08:40:28 PM ---
--- Quote from: c_a_p_t_a_i_n_r_o_n on August 08, 2010, 02:29:14 PM ---Gloria and I looked into PAG-IBIG in 2008, for slightly different reasons........your wife can join as a member but won\'t qualify for loan unless she has verifiable job or business income.

--- End quote ---
I don\'t see her getting any sort of a job in the near future actually, so it may be a non-starter for us.

We have a niece living with us, a nurse, who might avail, but that is when it starts getting complicated with property rights etc. Might be better just to scrat together all my little chunks of savings and get some land bought. House can come later.

--- End quote ---


... or ask nicely to the caseworkerer what paperwork is needed for your wife who happens to be married to you - to use youre retirement income or whatever you have as her own.... its been done before.... or so I have heard.... from the caseworker herself....

But that was before these new changes happen... it may be all over then... if then is not already now...

:

--- Quote from: dylanaz on August 09, 2010, 12:07:50 PM ---
... or ask nicely to the caseworkerer what paperwork is needed for your wife who happens to be married to you - to use youre retirement income or whatever you have as her own.... its been done before.... or so I have heard.... from the caseworker herself....

But that was before these new changes happen... it may be all over then... if then is not already now...

--- End quote ---
Unfortunatly I won\'t be retiring for another decade, the way I am going.† :(

I don\'t know if my salary income would apply for her, as a couple, joint income etc, or whether I could \'employ\' her. Or some other such deal.

:
There are othe RPr Government Agencies that use tax payers money for home mortgages and the RP SSS system.

We have dealt with National Home Mortgage, (RP Government Agency), twice with their foreclosers and one my wife re-mortgaged, (15 years @ 9% annual interest), since the deal was to good to pass up and didn\'t have the cash in hand at the time.† Getting 2.5 rent above payment, may not pay off anytime soon?

WARNING, don\'t expect things to go quick, fast and in a hurry dealing with these agencies...........PERIOD!!!

It took over a year with the 1st repo, paying in CASH to get a title. It took a year to know where and how to make payments on the 2nd repo.

Our 1st buy, (our house), from a Pinoy private owner 6 months to get a title and the 2nd direct buy took 2 years to get a title with the BIR screw-ups

BTW, you will pay the BIR capital gain tax from the title holder on a forecloser to the mortgage company/bank and again from the mortgage company/bank to you. All that might be included in the price offered?? It wasn\'t in our ordeals.

This ain\'t the USA or the UK!!!
B-Ray

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