GSIS offers housing loan restructuring program
‘If you want to pay in full, we’ll eliminate all the late fees and extra charges you still need to pay and cut the interest by half.’
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Daily Tribune‘If you want to pay in full, we’ll eliminate all the late fees and extra charges you still need to pay and cut the interest by half.’
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State pension fund Government Service Insurance System now offers a housing loan and restructuring program for people who already have a housing loan and a payment plan for people who want to buy one of its retail housing units.
In a statement on its website, GSIS said the two new programs would help the national government with housing and give every Filipino a "comfortable home and life."
"If you are having trouble making payments on a house you bought with GSIS, we can restructure your payments and forgive penalties and surcharges, which can be paid for up to 10 years, to make the payments easier," GSIS President and General Manager Wick Veloso said.
"If you want to pay in full, we'll eliminate all the late fees and extra charges you still need to pay and cut the interest by half. You could also pay your arrears to bring your account up to date even though you last paid into it over six months ago if you still have time left on your term," Veloso added.
He also mentioned that members of GSIS who want to buy a house through the "Lease with Option to Buy" program or through a public bid could use the installment sale.
Those who avail of the program can make the payment for as long as 25 years. When a person buys a condo, they can pay for up to 20 years. If the land is empty, they have 15 years to pay.
