House for foreclosure

[edilat]

mga people ng tsikot, need help very badly, especially sa mga bankers dyan.

Ang problema kasi ay ganito, may bahay (house A) kami na nakasangla sa isang bangko at mareremata na...Sabi ng bangko malapit na daw bumaba ang foreclosure notice(notice na rematado na). pag bumaba ba ang noitce na yun di na talaga mahabol?binebenta na namin ang isang property (house B) para matapal sa atraso na to pero baka bumaba na yung notice bago mabenta...mas malaki ang mawawala pag nawala ang House A. ang sabi ng bangko pagbumaba na daw ang notice di na daw sila ang dapat namin kausapin ibang agency na daw. Anong agency kaya?

pasensya na kung magulo, di ko na rin dinetalye kasa sobrang haba...right now talagang parang sasabog na utak ko.....

[ewa_boys]

Usually any form of uncollected debt they pass it to a collection agency. At yun ang dapat mong alamin kung sinong collection agency yun.

[tigkal]

Usually pag may foreclosure, may one year redemption period ka.Tapos may two week advertisement yan sa local newspapers. Then yun sheriff mag handle ng bidding. Ang bid ng bank ay yung amount ng utang mo plus interest. Kaya nasabi ng bank na iba na kausapin mo kasi baka may interesado bumili sa house mo. Pag may bumili, yung bumili na kausapin mo before mag lapse ng one year.Pag lapse ng one year and hindi kayo magkasundo, automatic sa kanya na yun. Kaya if yung cost ng bahay is greater ng utang mo sa bank, marami maghahabol nyan. Pag wala naman bumili, balik sa bank yung mortgage, and after a year, pwede na benta ng bank yung house.

[edilat]

Usually pag may foreclosure, may one year redemption period ka.Tapos may two week advertisement yan sa local newspapers. Then yun sheriff mag handle ng bidding. Ang bid ng bank ay yung amount ng utang mo plus interest. Kaya nasabi ng bank na iba na kausapin mo kasi baka may interesado bumili sa house mo. Pag may bumili, yung bumili na kausapin mo before mag lapse ng one year.Pag lapse ng one year and hindi kayo magkasundo, automatic sa kanya na yun. Kaya if yung cost ng bahay is greater ng utang mo sa bank, marami maghahabol nyan. Pag wala naman bumili, balik sa bank yung mortgage, and after a year, pwede na benta ng bank yung house.

sir, does it mean na pag bumaba na ang foreclosure order eh paalisin na kami sa bahay?or after lumabas ng FC,dun papasok ang one year redemption period?tama po ba pagkakaintindi ko?

salamat

[frenchtower]

Maybe what you can do is to contact the bank's legal department and arrange a compromise with them. Let your bank be involved in the sale of your other property as a way of assuring them that something is being done to settle your obligation.

I don't think the bank would ask you to leave the house yet. If the collection would be transferred to an outside agency, the worst thing that might happen on this stage is that you will be asked to pay your financial obligation with a huge amount of penalty. And of course, they will make sure you will have sleepless nights until you comply.

If still, you are unable to settle your debt, the bank and the agency can ask the courts to issue an eviction notice. Be ready to expect the Sheriffs at your doorstep.

Remember, the bank is not after your property. They are after your money. Your property is just a fall back in case the debt is not settled based on agreement.

Hope this helps.

[n2knee]

saang lugar ba ito bro edilat? at saang bangko? sa pilipinas ba o sa ibang bansa? karamihan ng mga bangko mayron silang department na ang specialty nila ay yung mga cases na papunta na sa foreclosure. yung mga bangko sa USA mayron silang home retention department. kung nandito ka yun ang tawagan mo.

kung nandito ka sa USA, pm me. bigyan kita ng tips from start to finish. FREE of charge. :lol:

[xoom]

losing one's house is probably the pinnacle of hitting rock bottom. okay lang mawala ang kotse, rolex, jewelries, gamit, etc. but losing a house is one for the majors.

i hope ma-salvage pa ng TS yung property nila.

[edilat]

*n2knee - sa pinas sir

*frenchtower - nakatulong po tlga maraming salamat

*xoom - i hope and praying na di makuha sa amin.

i think gawin ko yung payo ni frenchtower, need to beg to bank's legal department kahit ma extend pa ng kaunting time. we have no choice but settle yung kulang at mga interest na naccumulate coz UTANG is UTANG we hope na sana mabenta na din agad yung house B para mairaos ang house A. but one thing is sure sa nangyari na to, me and my family learned our lesson VERY WELL.

guys salamat sa lahat ng mga advice and still if you have anything pa po na pwede i-advice post nyo lang po.

[tigkal]

sir, does it mean na pag bumaba na ang foreclosure order eh paalisin na kami sa bahay?or after lumabas ng FC,dun papasok ang one year redemption period?tama po ba pagkakaintindi ko?

salamat

Pag lumabas and foreclosure, doon mag start ang one year redemption period. Hindi pa kayo paalisin sa bahay kasi technically, kayo pa rin ang may ari. After one year, and hindi nyo ma redeem, paalisin na kayo if the new owner will demand it.Or you can pay rent to the new owners.

[edilat]

*tigkal - so meaning sir pag lumabas yung foreclosure order wala pa tong kasamang sheriff . makakatulong ang mga sinabi mo para mag "re-group" kaming family kasi talagang para kaming army na nawalan ng camp kailangan lang po talaga namin ang redemption period kasi inaantay nanamin mabenta yung house B

thank you sa lahat ng mga suggestions comennts etc. and still mga paps inputs and infos are still welcome

[Gumusut_Amige]

as much as possible the bank doesn't want to foreclose your house... kasi additional cost para sa kanila (ie. legal fees, guards, etc).
dapat kausapin mo ang bank for compromise... malaki pa rin ang naitutulong ng magandang pakiusap.
good luck bro.

[tigkal]

*tigkal - so meaning sir pag lumabas yung foreclosure order wala pa tong kasamang sheriff . makakatulong ang mga sinabi mo para mag "re-group" kaming family kasi talagang para kaming army na nawalan ng camp kailangan lang po talaga namin ang redemption period kasi inaantay nanamin mabenta yung house B

thank you sa lahat ng mga suggestions comennts etc. and still mga paps inputs and infos are still welcome

Hindi pa kasama sheriff. Once na mag lapse na yung redemption period, kasama na sheriff. Please note that pag redeem mo, take into account yung interest charges na bayaran mo pag redeem mo. Usually pwede mo naman ma negotiate at time deposit rates. Yung house B hindi mortgaged? Mahirap din kasi mag benta ng house na mortgaged. kasi alam nila in need ka kaya baratin ka ng buyer.

[edilat]

di sya naka mortgaged sir, amin na po yun tlga, first acquired property ng parents ko, but sad to say kailangan masacrifice para ma save yung isa kasi yung House A mas malaki ang value....

[moxxxs]

also....hanggat walang Writ of Possession issued in favor of the bank, hindi ka nila pwedeng paalisin sa iyong bahay.....pero wag mo na paabutin doon...try to redeem asap after it is foreclosed by the bank

[tigkal]

Also try to negotiate with the bank if you can take out a loan with house B as collateral to to pay the loan balance on House A.Kaso lang yung loan amount is only around 70 percent of the assessed value of the property. Just an option for you to take into consideration.

[chrismarte]

wrong mistake

[edilat]

mga tsikoteers, eto na latest and sad to say very bad na ata talaga.....

may abiso na kami sa bangko na na ngayong araw "i-consolidate" na daw nila yung title. Ipapangalan na raw sa BDO yung property. Now my question is, pano namin mahahabol ang property...kasi kulang na lang talaga ng 30% yung kailangan na habulin na pera....and ayaw na pumayag ng bangko....at pag nagka ganun....paalisin ba kami sa bahay?

TIA!

[vinj]

If your property is a prime one (easy to sell or easy to consolidate with any of the SM Group interests), expect the bank to work faster on foreclosure. The 30% left in the loan balance already includes accumulated interest? The value of the property covers how much of the outstanding loan (are you up to date on interest payments and just remiss on the principal?).

Have you discussed any compromise such as finding a buyer for the property (or selling another property) and paying off the loan? They can evict you, however only once the foreclosure proceedings are done, with a court order and a sheriff to serve it. Its best to have a back up plan and look for other residences if you think mahirap na talaga just as well.

[andywesteast]

Saan ba located yung Property B mo? Maybe you can make a quick sale. I have a lots of moneyed Chinese connections.

In the meantime, get a lawyer to delay the foreclosure proceeding. Pronto!

[edilat]

di na talaga nabayaran sir vinj, yung 30% na kulang is included na yung principal at interest...sad to say napabayaan yung loan at hindi nakabayad ng mortgage on time coz of problema sa bahay nagkasabay sabay.....

Do i have an option na pag na remeta na nila...kami ang magiging first hand buyer or one of the family.....yung isang bahay may buyer na but next month ppa magkakabayaran....