Confusing Pag-ibig & Developer

Posted in QA on March 21st, 2011 by admin | No comments
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Question:

Hello,

We purchase a town house 6yrs ago under pag-ibig financing we paid it in full last Jan. Pag-ibig advice us to get the title from them next week. However, the developer told me to give them the original title and taxes paid bec they still need to transfer the name to us and for taxes purpose. They say Pag-ibig no longer want to give them the title bec we are already fully paid.Is this correct that I should give them the title? its quite confusing.

Thanks.

Answer:

The title should be in your name already but in the file/possession of Pagibig because it’s mortgaged to Pagibig. Once it’s fully paid, you get the original title from Pagibig, bring it to The Registry Of Deeds and request them to remove the mortgage statement at the back of the title.

 

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