Fund offers loan, fee condonation

Thursday, January 12, 2012

PAG-IBIG Fund Cebu South department manager Rio Teves announced that the housing loan restructuring and penalty condonation program is now available to all housing loan borrowers (except window 1 accounts) with over three months in arrears in amortization payments.

He said qualified borrowers should apply immediately since the penalty condonation clause of the program is up to June 30, 2012 only.

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Applications filed after Junbe 30 can only avail of loan restructuring, without the benefit of penalty condonation.

Teves hopes concerned housing loan borrowers will take this last and final opportunity to save their property from foreclosure or cancellation.

Housing loan borrowers who would like to avail of the program are advised to visit Pag-IBIG Fund or call the loans and contribution management and recovery division at 234-2709 and 231-5570.

Pag-Ibig Fund is also offering a penalty condonation program for delinquent and unregistered employers.

The program applies to employers who failed to remit the membership contributions of their employees.

Qualified employers may apply for penalty condonation on their counterpart contributions.

Employers who collected membership contributions and short-term loan payments from their employees but failed to remit the same to the fund and employers who have previously availed of any penalty condonation offered by the fund are excluded from the coverage.

Employers have until June 30 to apply as beneficiaries. (PR)

Published in the Sun.Star Cebu newspaper on January 12, 2012.