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Showing posts with label House Loan. Show all posts
Showing posts with label House Loan. Show all posts

Friday, February 23, 2018

Do You Know That You Can Demand Financial Support If Your OFW Spouse Abandon You?

Got into a mortgage loan agreement and your kids are currently going to school. Your OFW husband suddenly stopped sending remittances several months ago without any notice. How would you pay your bills? Your house loan? Could you do something about it? Fortunately, yes. You can definitely ask financial support for your kids.
The Philippine Family Code is a law stating that a wife and her children should receive financial support. 
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Got into a mortgage loan agreement and your kids are currently going to school. Your OFW husband suddenly stopped sending remittances  several months ago without any notice. How would you pay your bills? Your house loan? Could you do something about it? Fortunately, yes. You can definitely ask financial support for your kids.  The Philippine Family Code is a law stating that a wife and her children should receive financial support.   Advertisement        Sponsored Links       What laws can protect abandoned wives and children?  The Philippine Family Code is a law stating that a wife and her children should receive financial support. The Philippine Family Code Title IV Articles 194-208 defines and support as everything indispensable for sustenance, dwelling, clothing, medical attendance, education, and transportation, in keeping with the financial capacity of the family.  The part of education in the clause includes schooling or training for some profession, trade or vocation, even beyond the age of majority (18 years old). Transportation includes expenses going to and from school and/or work.  Other laws that wives may find helpful are: Anti-Violence against Women and Their Children Act of 2004 Section 5 (e) states that depriving the woman and her children of financial support legally due her or her family is a crime punishable by time in jail and a fine of no less than Php 100,000.  Similarly, it is a punishable crime to deliberately provide the woman’s children insufficient financial support. Solo Parents Welfare Act of 2000 provides several discounts and benefits to women and their children  Who can file for a financial support? The victim can apply directly. If the applicant is not the victim then an affidavit of the applicant should be presented. The affidavit should include the circumstances of abuse suffered by the victim and the circumstances of consent given by the victim for filling the application.    How to file?  To ask for support using the wife shall apply in writing, and it should be signed and verified under oath.  In your application, you may be asked the following: You and your husband’s names and addresses Description of relationship Statement of the circumstance of the abuse (including abandonment and no provision of support) and a description of the reliefs requested: Request for counsel and reasons for such Request for waiver of application fees for hearing and An attestation that there is no pending application for a protection order in another court.  Where to apply?  An applicant can apply to any regional, metropolitan, municipal and municipal circuit trial courts with territorial jurisdiction over the place where the woman lives.  How much can financial support be received? The amount of support will be deduced from the needs of the woman and children and the means of the husband. This amount can be reduced or increased also depending on the same variables. While the case is being heard in court, the wife can already receive some financial support by asking for pendent lite. The husband should send allowance within the first five days of every month.  What if the husband refuses to communicate?  Although the Philippine court does not have jurisdiction over your husband as long as he is out of the country, you can still file a petition as soon as he goes home. File a Protection Order under RA 9262 and a Hold Departure Order.  Once granted the Protection Order, the judge will direct the employer of your husband to remit support directly to you and your children. If the employer disregards this notice, they can be penalized for contempt of court and be imprisoned and fined.  Filing a case against your husband may be a sensitive and painful task but it is something that you should pursue you and your children’s sake. Besides, no one else will fight for you and your children’s rights but you.     Read More:  Is It True, Duterte Might Expand Overseas Workers Deployment Ban To Countries With Many Cases of Abuse?  Do You Agree With The Proposed Filipino Deployment Ban To Abusive Host Countries?  Body Of Household Worker Found Inside A Freezer In Kuwait; Confirmed Filipina  Senate Approves Bill For Free OFW Handbook  Overseas Filipinos In Qatar Losing Jobs Amid Diplomatic Crisis—DOLE How To Get Philippine International Driving Permit (PIDP)   DFA To Temporarily Suspend One-Day Processing For Authentication Of Documents (Red Ribbon)    SSS Monthly Pension Calculator Based On Monthly Donation    What You Need to Know For A Successful Housing Loan Application    What is Certificate of Good Conduct Which is Required By Employers In the UAE and HOW To Get It?    OWWA Programs And Benefits, Other Concerns Explained By DA Arnel Ignacio And Admin Hans Cacdac       ©2018 THOUGHTSKOTO  www.jbsolis.com

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What laws can protect abandoned wives and children?

The Philippine Family Code is a law stating that a wife and her children should receive financial support. The Philippine Family Code Title IV Articles 194-208 defines and support as everything indispensable for sustenance, dwelling, clothing, medical attendance, education, and transportation, in keeping with the financial capacity of the family.

The part of education in the clause includes schooling or training for some profession, trade or vocation, even beyond the age of majority (18 years old). Transportation includes expenses going to and from school and/or work.

Other laws that wives may find helpful are:
Anti-Violence against Women and Their Children Act of 2004 Section 5 (e) states that depriving the woman and her children of financial support legally due to her or her family is a crime punishable by time in jail and a fine of no less than Php 100,000.

Similarly, it is a punishable crime to deliberately provide the woman’s children insufficient financial support.
Solo Parents Welfare Act of 2000 provides several discounts and benefits to women and their children

Who can file for financial support?
The victim can apply directly. If the applicant is not the victim then an affidavit of the applicant should be presented. The affidavit should include the circumstances of abuse suffered by the victim and the circumstances of consent given by the victim for filling the application.

How to file?
To ask for support using the wife shall apply in writing, and it should be signed and verified under oath.

In your application, you may be asked the following:
You and your husband’s names and addresses
Description of the relationship
Statement of the circumstance of the abuse (including abandonment and no provision of support) and a description of the reliefs requested:
Request for counsel and reasons for such
Request for waiver of application fees for hearing and
An attestation that there is no pending application for a protection order in another court.

Where to apply?
An applicant can apply to any regional, metropolitan, municipal and municipal circuit trial courts with territorial jurisdiction over the place where the woman lives.

How much can financial support be received?
The amount of support will be deduced from the needs of the woman and children and the means of the husband.
This amount can be reduced or increased also depending on the same variables.
While the case is being heard in court, the wife can already receive some financial support by asking for a pendent lite.
The husband should send an allowance within the first five days of every month.

What if the husband refuses to communicate?
Although the Philippine court does not have jurisdiction over your husband as long as he is out of the country, you can still file a petition as soon as he goes home. File a Protection Order under RA 9262 and a Hold Departure Order.

Once granted the Protection Order, the judge will direct the employer of your husband to remit support directly to you and your children. If the employer disregards this notice, they can be penalized for contempt of court and be imprisoned and fined.

Filing a case against your husband may be a sensitive and painful task but it is something that you should pursue you and your children’s sake. Besides, no one else will fight for you and your children’s rights but you.

Read More:
Is It True, Duterte Might Expand Overseas Workers Deployment Ban To Countries With Many Cases of Abuse?

Do You Agree With The Proposed Filipino Deployment Ban To Abusive Host Countries?

Body Of Household Worker Found Inside A Freezer In Kuwait; Confirmed Filipina

Senate Approves Bill For Free OFW Handbook

Overseas Filipinos In Qatar Losing Jobs Amid Diplomatic Crisis—DOLE
How To Get Philippine International Driving Permit (PIDP)







©2018 THOUGHTSKOTO

Monday, March 27, 2017

Compare Some of the Best Bank Housing Loan Programs and Interest in the Philippines

Housing Loan Rates Comparison in the Philippines

Below is a list of housing loans available in the Philippines. For quick and easy comparison, see our free online housing loan calculator below. This tool can help you estimate your monthly repayments based on your loan requirement. To assist you further, once you have selected the home loan of your choice, just click ‘Apply’ and you can expect a call from our representatives regarding your housing loan application in 24 hours.




SHOWING ‘12’ RESULTS FOR P1,000,000 LOAN FOR 10 FIXED TERM FOR 1 YEAR.

Bank Name           Interest Rate      Monthly                 Min Loan                   Margin of
                            (% per year)       Repayment            Amount                      Finance

HSBC                       4.99%           P 10,602                   P 2,000,000                      80%        

SECURITY BANK    5.25%           P 10,729                   P 1,000,000                        80%

BPI                           5.50%           P 10,853                   P 400,000                           80%

BDO                         5.50%           P 10,853                   P 500,000                          80%

PNB                         5.75%           P 10,977                   P 200,000                           80%

EASTWEST             6.00%           P 11,102                   P 500,000                           80%

METRO BANK         6.50%           P 11,355                   P 500,000                           80%
     
UNION BANK          6.50%           P 11,355                   P 500,00                             90%

CHINA TRUST        6.75%           P 11,482                   P 500,000                            80%

MAY BANK              6.88%           P 11,549                   P 800,000                           80%

CHINA BANK           7.50%          P 11,870                   P 500,000                            80%

RCBC                      7.70%           P 11,975                   P 300,000                           70%


Buying a house is one of the biggest purchases you’ll ever make. To help you make the best home loan decision, we've compiled a short guide to explain what you need to know before you apply for a mortgage.

What Is A Housing Loan?

To put it simply, a housing loan is a loan used to purchase property. Home loans are also commonly referred to as 'mortgages'. In the Philippines, home loans are available from banks, developers, or the Home Development Mutual Fund, better known as Pag-IBIG. To paint a clearer picture, we suggest that you check out our comprehensive article on the Key Differences Between a Commercial Bank, SSS, and Pag-IBIG Housing Loans. This will provide you with a better understanding on the advantages and requirements of these home loan options. If you already have an existing housing loan and want to change to another product or lender to get better rates, that’s called 'refinancing'.

How Do Home Loans In The Philippines Work?

When you take out a home loan in the Philippines, you enter into an agreement with the lender (usually a bank) and promise to repay your loan over an agreed length of time (also known as the 'loan tenure' or ‘loan tenor’).
Filipinos have two options for housing loans: public, in the form of PAG-IBIG, and private, in the form of banks. Major banks that provide housing loans include BPI, BDO, Metrobank, and Security Bank. And you can compare all their housing loan rates on this site.
Interest rates for housing loans in the Philippines differ from bank to bank. For example, for a 20-year period, the interest of a BDO Home Loan is 5.50% 1 year fixed term, while for Security Bank it’s 5.25%.
In a typical Philippine mortgage, you make monthly payments for the loan tenure until you've fully repaid both the principal of the loan and the interest. During the early years of the loan, the majority of your monthly payments will be used to repay interest, however, as time passes, a larger proportion of your payments will go into paying down the principal.

Because your interest is calculated based on what you owe on your loan each month, by paying a little bit extra each month, the interest in subsequent months will be lower.
To apply, click here

SOURCE: iMoney

©2017 THOUGHTSKOTO

Wednesday, July 13, 2016

How to Avail of Philippine National Bank’s (PNB) Sure Home Housing Loan



Here are the summary on how to avail of the PNB's Sure Home Housing Loan especially for Overseas Filipino Workers who dream to have a mortgage house.
Purpose of the loan:

1) For purchasing of condominium, house and lot, lot or townhouse
2) Construction and/or improvement of house
3) Refinancing
4) Taking out of existing loans

Eligibility:
1) Filipino citizens (naturalized and natural-born)
2) Natural-born citizens who lost their Filipino citizenship. The maximum lot area however, is up to 1,000 sq.m. only.
3) Borrower must be at least 21 years old.
4) Upon loan maturity, borrower must not be more than 65 years old.
5) Individuals who are employed and self-employed. 


Requirements (at all times):
1) Duly accomplished Housing Loan Application Form (http://www.pnb.com.ph/images/stories/docs/housingloan-appform.pdf)
2) Photocopy of 2 valid government issued ID’s such as the following:
a)       Digitized SSS ID
b)       Driver’s License
c)       GSIS E-card
d)       PRC ID
e)       IBP ID
f)        OWWA ID
g)       Digitized BIR ID
h)       Senior Citizen’s ID
i)        Unified Multi-Purpose ID
j)        Voter’s ID
3) A non-refundable appraisal fee of PhP 3,500

4) If you are with a attorney-in-fact, co-borrower/co-maker, a separate application form is a must. 
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Additional Requirements for Overseas Filipino Workers (OFW)

1) Photocopy of passport
2) Contract/Certificate of Employment (COE) approved by POEA. If applicable and you are a direct hire, it should be authenticated by the Philippine Consulate.
3) Proof of inward remittance through PNB or other banks.
4) For seafarers, Crew Contract and Exit Pass from POEA.
5) If applicable, PNB-prescribed Special Power of Attorney (SPA).

6) If SPA was administered and notarized abroad, it has to be authenticated by the Philippine Consulate. 
For those who are based in Kingdom of Saudi Arabia (KSA)
1) Certificate of employment and salary, stamped by the Saudi Chamber of Commerce and authenticated by the Philippine Consulate.

USA & US Territory
1) Certificate of employment and salary, authenticated by the Philippine Consulate
2) Loan applicant has to fill-out the Bank’s Credit Information Authority and pay $50 for the Experian Report in PNB-Los Angeles Desk Office. Here are the contact details:

Rowena Tabuzo
3345 Wilshire Blvd., Suite 200,
Los Angeles California, USA
90010
Telephone: (323) 802-8001
Telex: (650) 225-3656
Fax: (213) 401-1803

Europe
1) Certificate of employment and salary, authenticated by the Philippine Consulate.
2) Loan applicant has to fill-out the Bank’s Credit Information Authority and pay L85 for the Equifax Report in PNB Europe Desk Office. Here are the contact details:

Gloria Alwis
G/F Old Change House,
128 Queen Victoria St.,
London, United Kingdom
EC4V 4HR
Telephone: 207-3791-340/41; 377/397
Telex: 883981/8812797
Fax: 207-653-1403

Japan
1) With English translation, the certificate of employment and salary should be authenticated by the Philippine Consulate.

For other countries and those who are sea-based:
1) Certificate of Employment and Salary authenticated by the Philippine Consulate
2) Proof of inward remittance through PNB or other banks
3) For seamen, Crew Contract and Exit Pass from POEA

Once the application form is completely filled out and signed, you may submit the complete requirements together with the application form to the nearest PNB Branch. 

CHECK THIS ALSO:

(2016 COLLECTION) 30 IMAGES OF 2 STOREY HOUSES BUILT IN THE PHILIPPINES


PNB source:
©2016 THOUGHTSKOTO

Wednesday, June 15, 2016

BUDGET - P10,000 to P100, 000: PAGIBIG FUND HOUSE AND LOT/RESIDENTIAL LOT ACQUIRED ASSETS


It is unbelievable that there are lots or house and lot that you can buy or loan at PAGIBIG at a price ranging from P10,000 to P100,000. A search through their acquired assets website yields the following result.




1078 properties in 22 locations found
Most of these acquired assets available for cash buyers or mortgage or house loan are located in Bataan area, Camarines Norte, Camarines Sur, Masbate, Catanduanes, and Rizal and Batangas. There are other properties ranging from P100,000 to P500,000 too. 

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BROWSE FOR MORE ASSETS FOR HOUSE LOAN AT THE PAGIBIG FUND WEBSITE
HERE

SEE ALSO THE FOLLOWING CONTACT NUMBERS OF PAGIBIG FUND ACQUIRED ASSETS DIVISION IN YOUR NEAREST AREA

There you can find contact details of Pagibig officers and email addresses you can correspond with if you are looking for a bargain price in house and residential lot.
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©2016 THOUGHTSKOTO