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PAG-IBIG Penalty Condonation Program for Delinquent Housing Loan Borrowers/Installment Buyers
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What is the Pag-IBIG Housing Loan Restructuring and Penalty Condonation Program?

This is a special program that aims to:

  • Assist delinquent borrowers/installment buyers to preserve their properties from foreclosure or cancellation of Contract-to-Sell (CTS) by providing them the opportunity to update or restructure their accounts under affordable terms;
  • Provide relief to delinquent borrowers/installment buyers through condonation of accumulated penalties;
  • Update delinquent accounts;
  • Fully pay delinquent accounts.


The program runs for a limited period only.

Ang Pag-IBIG Housing Loan Restructuring and Penalty Condonation Program ay isang natatanging programa para sa mga miyembro ng Pag-IBIG na nakahiram ng pondo para sa pabahay mula sa Pag-IBIG ngunit hindi nakapagbayad ng buwanang amortisasyon sa matagal na panahon. Layon ng programang ito na:

  • Matulungang maisalba ng mga borrowers o installment buyers ang kanilang mga pag-aari mula sa posibleng foreclosure or kanselasyon ng Contract-to-Sell (CTS)
  • Mapagaan ang pagbabayad ng mga borrowers o installment buyers sa pamamagitan ng pag-condone o pagpapatawad sa lahat ng penalties sa kanilang obligasyon.
Ang Penalty Condonation Program ay ipapatupad sa maikling panahon lamang.

Who can avail of the program?

All Pag-IBIG housing loan borrowers/installment buyers whose accounts are in arrears for at least three months may apply for loan restructuring and penalty condonation.

Ang program a ay bukas sa mga miyembro ng Pag-IBIG na nakahiram ng pondo sa pabahay na mayroong arrears na hindi bababa sa tatlong buwan. Maaari silang mag-apply para sa loan restructuring at penalty condonation.

When can members file their application?

Members can already file their applications for loan restructuring and penalty condonation. The program is ongoing until 30 June 2012. All penalties incurred by the borrower will be condoned upon approval of the application, provided that the application is received within the period specified.

Applications filed after 30 June 2012 will be processed for loan restructuring but members will no longer qualify for penalty condonation.

Tumatanggap na ng aplikasyon para sa Loan Restructuring at Penalty Condonation. Ang programa ay ipatutupad hanggang Hunyo 30, 2012. Hindi na kailangang bayaran ang penalties kung maaaprubahan ang aplikasyon bago Hunyo 30. Ang mga aplikasyong matatanggap pagkatapos ng Hunyo 30, 2012 ay para na lamang sa Loan Restructuring at hindi na kwalipikado sa penalty condonation.

Is there a downpayment required?

Yes, a downpayment will be required from borrowers whose applications have been approved. The downpayment will be based on the following:

a. Downpayment equivalent to at least 10% of the total arrears for borrowers/ installment buyers whose mortgages/installments are:
  • Still with the Billing and Collection Department or Housing Loan Division and are not yet endorsed for foreclosure
  • Endorsed for filing of petition for extra-judicial foreclosure
  • Foreclosed where the winning bidder is the HDMF but prior to the registration of the Certificate of Sale (COS) to the Registry of Deeds
  • Secured by an assignment of CTS, provided it has not yet been cancelled by notarial act
  • Under the "Magaang Pabahay, Disenteng Buhay” Program provided that the CTS has not yet been cancelled by notarial act
  • Under CTS Generic transactions
  • Surrendered to the Fund under dacion en pago, provided the title has not yet been consolidated or transferred in the name of the Fund
  • Under Folio I and UHLP regardless of the status of the accounts
Or for the legal heirs of deceased borrowers / installment buyers with unpaid loan balances/installments after application of the proceeds of the MRI and TAV

b. Downpayment equivalent to at least 20% of the total arrears must be paid by borrowers who:
  • Have already received a Notice of Foreclosure. They will be given 30 days from receipt of the Notice to file their application for loan restructuring, otherwise foreclosure proceedings will be pursued.
  • Have availed of loan restructuring under Circular No. 248
  • Have accounts that have been restructured at least three times from original loan takeout under previous guidelines
  • Have accounts, whether previously restructured or not, that do not have a single payment since takeout
  • Have properties that have been abandoned by the borrowers for more than one year from date of delinquency
  • Have properties that are currently occupied by a third party other than the borrower’s legal heirs or registered beneficiary
c. For a borrower whose actual amount for restructuring results in a monthly amortization that is more than 40% of his Net Disposal Income (NDI) requirement, the loan amount will be adjusted to satisfy the NDI requirement. However the borrower will be required to pay as downpayment the difference of the actual amount and the adjusted loan amount.

Oo, kailan gang magbayad ng downpayment ang mga borrowers na naaprubahan ang aplikasyon para sa Loan Restructuring at Penalty Condonation. Ang downpayment ay ayon sa mga sum usunod:

a. Ang down payment ay hindi bababa sa 10% ng total arrears para sa mga borrowers o installment buyers na ang utang o installment ay:
  • Nasa Billing and Collection Department o Housing Loan Division at hindi pa naeendoso para sa Foreclosure
  • Naendoso para sa filing ng petisyon para sa extra-judicial foreclosure
  • Na-foreclose, kung saan ang nanalong bidder ay ang Pag-IBIG Fund, pero sa panahong hindi pa nairerehistro ang Certificate of Sale (CoS) sa Registry of Deeds
  • Nakaseguro sa assignment ng CTS, ngunit hindi pa nakakansela sa pamamagitan ng notarial act
  • Nasa ilalim ng "Magaang Pabahay, Disenteng Buhay” Program, ngunit hindi pa nakakansela ang CTS sa pamamagitan ng notarial act
  • Nasa ilalim ng CTS Generic transactions
  • Naisuko sa Pag-IBIG Fund sa ilalim ng dacion en pa go, ngunit ang titulo ay hindi ba consolidated o nailipat sa pan galan ng Pag-IBIG Fund
  • Nasa ilalim ng Folio I at UHLP, kahit ano pa ang status ng mga accounts
O para sa mga legal na tagapagmana ng mga namatay na borrowers o installment buyers na may hindi nabayarang loan balances o installments pagkatapos ng aplikasyon ng proceeds ng MRI at TAV

b. Ang downpayment ay hindi bababa sa 20% ng total arrears para sa mga borrowers na:
  • Nakatanggap na ng Notice of Foreclosure. Bibigyan sila ng 30 araw pagkaraang matanggap ang Notice para isumite ang kanilang aplikasyon para sa Loan Restructuring at Penalty Condonation. Ipagpapatuloy ang foreclosure procedures kung hindi ito gagawin.
  • Pinayagang mag Loan Restructuring sa ilalim ng Circular No. 248
  • May accounts na tatlong beses nang na-restructure mula sa original loan takeout sa ilalim ng mga nakaraang guidelines
  • May accounts, na-restructure man o hindi, na hindi pa nababayaran ni minsan mula noong i-takeout
  • May properties na inabandona ng mga borrowers ng higit sa isang taon mula sa petsa ng delinquency
  • May properties na kasalukuyang inookupa ng third party maliban sa mga legal na tagapagmana ng borrowers o kanilang registered beneficiary.
c. Para sa borrowers na may aktuwal na halaga ng restructuring na aabot sa buwanang amortisasyon na lalagpas sa 40% ng kanilang Net Disposable Income (NDI) requirement, magkakaroon ng adjustment sa loan amount para pumasa sa NDI requirement. Kailangang bayaran ng borrower bilang downpayment ang matitirang halaga pagkatapos bawasin ang actual amount sa adjusted loan amount.

Where can applications be filed?

For NCR accounts, borrowers can file their applications at the Billing and Collection I or II Departments at the 2nd floor of JELP Business Solutions Building, 409 Shaw Boulevard, Mandaluyong City. Meanwhile, borrowers whose accounts are with Pag-IBIG branch offices in the provinces can file their applications with the branch’s Housing Division.

Para sa mga NCR accounts, maaaring isumite ang aplikasyon sa Billing and Collection I o II Departments na matatagpuan sa ika-2 palapag ng JELP Business Solutions Building, 409 Shaw Boulevard, Mandaluyong City. Para naman sa mga borrowers na nanghiram sa Pag-IBIG branch offices sa mga pro binsya, maaari nilang ipasa ang kanilang aplikasyon sa Housing Division ng branch.

What forms need to be accomplished when applying for loan restructuring and penalty condonation?

Initially, the borrower has to fill out an application form for Loan Restructuring and Penalty Condonation. Pag-IBIG will also require borrowers who are over 60 years old at point of application and those whose outstanding loan obligation is over P2 million up to P3 million pesos, to accomplish a Health Statement Form.

Para makinabang sa programa, kailangan ng borrower na magsumite ng Application for Loan Restructuring and Penalty Condonation na maaaring makuha mula sa aming website na www.pagibigfund.gov.ph o sa alinmang Pag-IBIG Fund Branch. Kailangan ring magsumite ng Health Statement Form ang mga borrowers na lam pas 60 taon ang edad sa araw ng aplikasyon at iyong may outstanding loan obligation na higit sa P2 milyon.

What is the interest rate to be applied on the restructured loan?

The interest rate on the loan prior to application for loan restructuring shall be maintained and shall be charged on the restructured loan amount.

Ang interest rate na ipinapataw sa utang bago pa man ito iaplay para sa loan restructuring ang siya pa ring i-aapplay sa restructured loan.

What are the modes of payment of the monthly amortization on the restructured loan?
  • If the borrower is employed, payments shall be made through a salary deduction scheme. A collection agreement with his employer shall be executed with Pag-IBIG Fund;
  • Post-dated checks issued by the borrower;
  • Over-the-counter; or
  • Through accredited collecting agents/bank
  • Kung ang borrower ay nagtatrabaho sa isang kompanya, ang kanyang amortisasyon ay babawasin sa kanyang sweldo. Papasok sa isang kasunduan sa pangongolekta ang kanyang kompanya at ang Pag-IBIG Fund;
  • Pagiisyu ng borrower ng post-dated checks;
  • Pagbabayad sa Pag-IBIG counters; o
  • Sa pamamagitan ng mga nangongolektang ahensya o bangkong kinikilala ng Pag-IBIG.
How much penalty is charged on late or unpaid amortization?

For late or unpaid housing loan amortization, the penalty is 1/20 of 1% of the amount due, for every day of delay.
Para sa late o hindi nabayarang loan amortization, mapapatawan ito ng multang katumbas ng 1/20 ng 1% ng halagang dapat bayaran, sa bawat araw na naantala ang pagbabayad.

What would happen if a member pays his amortization on time, but fails to remit his monthly contributions?

Non-payment for three (3) consecutive months of the monthly amortization, mandatory membership contributions, or both shall constitute default. All housing loan borrowers are required to continue their membership with Pag-IBIG during the entire term of the housing loan. Per Pag-IBIG guidelines, member-borrowers are obliged to continue paying their monthly contributions, regardless if for example, they lose their jobs or their employers cease to remit their contributions.

Ang borrower na nakaligtaang magbayad ng amortization, membership contributions, o pareho sa loob ng tatlong magkakasunod na buwan ay maituturing na in default. Lahat ng housing loan borrowers ay kailangang magpatuloy ng kanilang membership sa Pag-IBIG sa loob ng panahong sila ay may utang sa Pag-IBIG. Ayon sa patakaran ng Pag-IBIG, obligado

Ang mga member-borrowers na ipagpatuloy ang pagbabayad ng kanilang buwanang kontribusyon, kahit na, halimbawa, sila ay mawalan ng trabaho o itinigil na ng kanilang kompanya ang pagbabayad ng kanilang kontribusyon.


For concerns on the Penalty Condonation Program, you may contact any of the following:

•    Billing and Collection I Department
12th Floor JELP Business Solutions Building
409 Shaw Blvd., Mandaluyong City
Telephone Numbers 654-7276 or 654-6559

•    Billing and Collection II Department
12th Floor JELP Business Solutions Building
409 Shaw Blvd., Mandaluyong City
Telephone Numbers 654-7241 or 654-7294

•    the Pag-IBIG Fund provincial branch nearest you.

You may also contact PAG-IBIG Call Center at 7244244 (Metro Manila), email at publicaffairs@pagibigfund.gov.ph, or visit  website, www.pagibigfund.gov.ph.

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Total comments: 2
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2 rubelyn francisco • 8:39 PM, 12-May-2013
gusto ko lng po malamn may pagibig housing loan po ako nabayaran ko lng po ay equity tas na take-out ako sa pag-big after take out po mga 6 months ko lng sya nabayaran nawalan po ako ng work ng time na yun inabandoned ko po yung house ko kasi po dna ako nakabayad.. panu po kaya yun pwedi ko po ba balikan yung house ko mga 3 yrs npo nakakalipas..
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1 Reza V. Maninang • 12:35 PM, 05-May-2012
Dear Sir/ Madam,
Greetings!
Gusto ko po malaman kung kasali pa po ako sa condonation kahit eto ay ibinalik ko na po sa Pag ibig. Pero dito pa po ako nakatira. Ina antay ko lang po ang approaval ng Pag ibig para eto ay mabiling muli. Sana po ay sagutiun nyo ang tanong ko.
Salamat po

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