Updates on PAG-IBIG Loans (Home Mutual Development Fund) for 2009

Last 1st April 2009, Vice President and Housing Czar Noli De Castro recently announced that the Home Development Mutual Fund (HMDF) also known as PAG-IBIG Fund have approved the increase and adjustments on loan structures from the previous maximum loan bracket of PhP 2.0 Million to PhP 3.0 Million. These adjustments are great news for our folks who are given a more wider choices and options in a purchasing a home.

This move not only will benefit all members which focuses more from middle income earners and workers in highly urbanized areas in the Philippines and the Overseas Filipino Workers (OFWs) but also the real estate development companies as well in providing housing to our people. Thus empowers, the buyers with maximized purchasing power which help the real estate industry at the same time.

Here are the new Pag-ibig housing loan structures per annum:

For loan up to P400, 000 -- interest is 6%
Over P400,000 up to P750,000 -- interest is 7%
Over P750,000 up to P1 million -- interest is 8.5%
Over P1 million up to P1.25 million -- interest is 9.5%
Over P1.25 million up to P2 million -- interest is 10.5%
Over P2 million up to P3 million -- interest is 11.5%

All are fixed rates. For new developer, HMDF funds requires a 30% equity for their buyers to acquire a property and 70% loanable amount with strict compliance of requirements. If development company has a proven excellent track record , they can request to lower the equity requirement to 20% or 10%. Loans can be paid either 10 Years, 15 years, 20 years , 25 years to 30 years maximum.

Copyright 2008-2009 - PinoyMoneyVantage

What's happening, Philippines?, A short talk with Prof. Solita "Winnie" Monsod

Recently, the Real Estate Brokers Association of the Philippines (REBAP) - National Chapter has invited new licensed real estate brokers, current or active members on its first General Meeting and Membership (1st GMM) Assembly held in Sulo Hotel, Diliman, Quezon City which is held quarterly It was a triumphant time for most of the real estate professionals of this organization to gather and share their thoughts, agendas, proposals, plans and other business matters that affect organization, the real estate industry and also the economic issues and global financial crisis that is currently happening .

There was a spark of light in darkness and a glimmer of hope when the invited guest speaker of the day was Professor Solita "Mareng Winnie" Monsod gave this short talk and analysis on what is happening now in the world and the Philippines. Professor Monsod is a well known figure in the media as economist, writer, broadcaster and a professor of economics in the School of Economics in University of the Philippines.

During the talk she presented her analysis on the current situation of how the Philippines is doing in the present financial crisis. Wherein the Philippines was never hit harder compared to the first world countries and neighboring countries with the stimulus package brought about by President Gloria Macapagal-Arroyo's economic planning team in the effort to lessen the impact and keep the country from vulnerability against attacks. Somehow there are good news and bad news laying ahead in this tough times and condition that the ordinary Filipinos can cope up and adapt in a belt tightening mode. I adapted some of the notes I have jotted down including the slides used in the presentation.

Below is the summarized slideshow presentation (in Slideshare.net) adapted from Prof. Winnie Monsod's presentation as a guest speaker in last month.

What's up, Philippines?

View more presentations from pinoymoneyvantage.

Copyright 2008-2009 - PinoyMoneyVantage

Long Absence - Erratic Schedule

Sorry being away for that long extended time. I am so busy with work and recent activities involving extra-curricular activities, work and organizational meets. Right now it is summer time and we will have lots of activities on my planned outdoor activities this April and May 2009. For my viewers, Thank you for waiting patiently for me.

I still have upcoming blogs to catch with especially in regards to financial, economic and environmental and even a bit of the showbiz limelight for you folks to see. Also, I will be changing my templates with a much newer one. I still love that old template with planet earth on it because I am a staunch supporter of Earth Hour at 60 minutes.

Have a happy summer, folks!

Copyright 2008-2009 - PinoyMoneyVantage