Do you want to know your rights as a real estate investor, or simply as a real estate buyer who is making installment payments?
The first logical step would be to know what law applies and what that particular law contains, which in this case would be the full text of Republic Act No. 6552, which is more popularly known as the Maceda Law.
The full text of RA 6552 follows.
REPUBLIC ACT NO. 6552
REALTY INSTALLMENT BUYER PROTECTION ACT
AN ACT TO PROVIDE PROTECTION TO BUYERS OF REAL ESTATE ON INSTALLMENT PAYMENTS
Section 1. This Act shall be known as the “Realty Installment Buyer Act.”
Sec. 2. It is hereby declared a public policy to protect buyers of real estate on installment payments against onerous and oppressive conditions.
Sec. 3. In all transactions or contracts involving the sale or financing of real estate on installment payments, including residential condominium apartments but excluding industrial lots, commercial buildings and sales to tenants under Republic Act Numbered Thirty-eight hundred forty-four, as amended by Republic Act Numbered Sixty-three hundred eighty-nine, where the buyer has paid at least two years of installments, the buyer is entitled to the following rights in case he defaults in the payment of succeeding installments:
(a) To pay, without additional interest, the unpaid installments due within the total grace period earned by him which is hereby fixed at the rate of one month grace period for every one year of installment payments made: Provided, That this right shall be exercised by the buyer only once in every five years of the life of the contract and its extensions, if any.
(b) If the contract is cancelled, the seller shall refund to the buyer the cash surrender value of the payments on the property equivalent to fifty per cent of the total payments made, and, after five years of installments, an additional five per cent every year but not to exceed ninety per cent of the total payments made: Provided, That the actual cancellation of the contract shall take place after thirty days from receipt by the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act and upon full payment of the cash surrender value to the buyer.
Down payments, deposits or options on the contract shall be included in the computation of the total number of installment payments made.
Sec. 4. In case where less than two years of installments were paid, the seller shall give the buyer a grace period of not less than sixty days from the date the installment became due.
If the buyer fails to pay the installments due at the expiration of the grace period, the seller may cancel the contract after thirty days from receipt by the buyer of the notice of cancellation or the demand for rescission of the contract by a notarial act.
Sec. 5. Under Section 3 and 4, the buyer shall have the right to sell his rights or assign the same to another person or to reinstate the contract by updating the account during the grace period and before actual cancellation of the contract. The deed of sale or assignment shall be done by notarial act.
Sec. 6. The buyer shall have the right to pay in advance any installment or the full unpaid balance of the purchase price any time without interest and to have such full payment of the purchase price annotated in the certificate of title covering the property.
Sec. 7. Any stipulation in any contract hereafter entered into contrary to the provisions of Sections 3, 4, 5 and 6, shall be null and void.
Sec. 8. If any provision of this Act is held invalid or unconstitutional, no other provision shall be affected thereby.
Sec. 9. This Act shall take effect upon its approval.
Approved: August 26, 1972
Up next: Maceda Law salient features
Of course, this post will not be complete without covering the salient features of the Maceda Law. This will be covered in the next part of this series. Please watch for it.
To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: https://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
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Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.
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atty pwede po ba advice sa tanong ko???
sir ask ko lang po ma fo forfeit po ba ang bahay ko kung hindi ko pa po nababayaran lahat ng buo yung downpayment ko at yung move-in tsaka yung loan difference ko na 75.000 po lahat lahat.ko pero aproved na po ako sa pag-ibig nag babayad na po ako sa pag-ibig monthly.
Hi Leah, negotiate mo na agad na babayaran mo yung loan difference. Nag ba kulang yung loan equity mo, tama po ba? Negotiate niyo na agad na babayaran mo rin siya in installment para magaang naman para sa iyo.
thank you po. pero ayaw po nila pumayag ng installment gusto nila reconstruct daw po kaso hindi ko po kaya kasi mas malaki na po. ma foforfeit po ba ang house ko kasi ang remaining balance ko na lang sa realty corp ay 75,000
ask ko lang po atty. what if nagsign ako ng contract sa immigration and nagbayad ako ng half lang ng requirement fee nila pero due to some problem hindi ko na maitutuloy pa makukuha ko pa ba pera ko?
Hello just want to ask lang po, how about pag 4 months na di nabayaran yong monthly payment sa nabili namin na lote, ano po ba gagawin ko?
tanong lang din po nakapurchase ako ng lot inhouse financing and fully paid na po sya last 2009 pa until now wala parin yung land title ko at sumukat na ako sa kanila na gusto ko nalang i refund lahat ng binayad ko pati interest and principal na binayad ko sa kanila makuha ko kaya yun kasi sila naman may kasalanan 4 years na kong nag iintay ng titulo
Hi sir! Pano po kya s case nmin? Almost 4 yrs. n po kming nghu2log ng bhay. My husband got sick kya ngpunta kmi s land dveloper nung bhay and asked kung my mare2fund kmi if ever n iwi-withdraw nmin ung contract. They said wala dw po kming maku2ha. We also asked kung pwedeng humingi ng grace period since my husband is sick and can’t go back 2 his work. They said if can’t pay within sixty days, mapo-porfeit dw ung property nmin. Sir, pls. help us. Thanks.
Hi sir! Pano po kya s case nmin? Almost 4 yrs. n po kming nghu2log ng bhay. My husband got sick kya ngpunta kmi s land dveloper nung bhay and asked kung my mare2fund kmi if ever n iwi-withdraw nmin ung contract. They said wala dw po kming maku2ha. We also asked kung pwedeng humingi ng grace period since my husband is sick and can’t go back 2 his work. They said if can’t pay within sixty days, mapo-porfeit dw ung property nmin. Sir, pls. help us.
Atty Jay ask ko lang po about maceda law recently po kase bago mag end ang 2012 na vacate namen ung house namen d2 sa antipolo dahil na cancelled ng developer almost 4 years na po kame dun nakatira nung ma cancelled ung bahay 25k per month po ang mothly amortization namen 100k po lang ang na refund namen after a week ng e vacate namen ung bahay tama po ba na un lang ang na refund namen kase ang pagkakaintindi ko po ay 50% supposed to be ang dapat namen na refund? sana po masagot nyo ang tanung ko regarding this..tnx and god bless…
Hi gusto ko Sana hingin Ng tulong ko sinu pwedi mg assist sakin Kung attorney po ba at sinu pwedi tawagan kasi mag back out na po kami sa pag hulog Ng bahay kasi grabe na interest Ng sent na ko Ng letter pero sinasabi nila na sayang ilang na Lang daw makakabalik samin at Wala din daw sila pero ung developer na pwedi ibalik samin kaya kailangan
Hi ask ko lng po tapos na kmi mgbayad ng downpayment nun May 2012 nun kinuha namin yin house malinaw po sa usapan na ipapadok namin iyun sa pagibig february pa lng kinumpletona namin papers namin pero evrytime we follow it up sa developer lagi nila sinasabi na on process pa rin, nabibigatan na kmi sa monthly amortization, can we havevthe rights to demand na di muna kmi mgbabayad ng in hoiuse financing hangat di naapprove ang pagibig
Sir ung po bang 50% na refund isung mismong mga binayad ko sakanila for about 45 months na ako na ngahuhulog sakanila?
Sir
Maykarapatan po ba ako nakumuha ng refund ko kasi kulang po kami ng hulog na 15 months sa developer ang pinadalhan po nila ako ng letter recession letter.. Ang sabi po kasi sakin wala daw po ako makukuha na refund.. 2 lote po kasi ang kinuha ko.. I think nasa 80% na po ang naihulog ko.. Pwera pa po dun ang down payment reservation.. 15 months nalangpo ang kulang ko sakanila.. Bayad ko na po ang lupa ko.. Natatakot po kasi ako na mawala pinaghirapn namin ng ganun ganun nalang..
Sir jay
Tanung ko Lang po Kung ung 50 na makakabalik Ay ung kalahati Ng lahat Ng mabayad mo po
At second tanung po nung nawalan po ako Ng work 9 buwan po ako Wala work kaya nag hiram po ako sa nanay ko Ng pang up date tapos po 2month naka bayad uli din mga 6 month d naman naka bayad kaya Ng pa restructure po Ng payment bakit ung remaining amount nakaroon naman Ng same interst kya lumaki naman at Wala na kataposan pagbayad tapos Wala daw sila pera kung mg bak out ako kaya every month na
Bawasan ung refund ko hanga sa Wala na makuha anu po ka dapat ko Gawain
gud am. my daughter bought a condo unit @ cambridge village last 2005.she issued post dated checks for the said unit up to march of 2008.-More than 3 years na nakapaghulog in the amount of (402,000).financial crisis has affected us kya hindi na natuloy ang monthly amortization.last june 2008, nagpadala ang empire east ng letter of cancellation with forfieture of payments as damages (notarized). since wla po ang anak ko-nag abroad para maghanapbuhay at hindi rin namin alam ang gagawin dhil hindi kmi aware sa Maceda Law.But last March 2009, nagpadala sila ng final notice of turnover of unit.Nag fax po ako ng spa to confirm.since then, wla na po communication.However, last November 2, 2012, meron almost the same case na nafeature sa column ni Atty. Persida Acosta,kaya po nabuhayan kmi ng loob na mababalik khit man lng 50% ng pinaghirapang pera ng anak ko.Nag inquire na kmi sa empire east regarding ng status ng unit at wala silang maisagot.for 3 weeks now, same answer ang ibinibigay-wla pang docs sa knila.this morning, in-admit na ng staff nila na me nakapag move-in na sa unit last 2010 pa.saan po kayang office kmi pwede humingi ng tulong para maprocess agad ung claim namin?sa hirap po ng buhay, napakalaking tulong po ang perang ito para makapag umpisa ng hanapbuhay.salamat po.
Hello Atty,
I’m a first-time buyer po ng isang house and lot. Ready for occupancy po ang nakuha kong unit. I requested for the removal of the balloon payment since hindi ko po sya kayang bayaran ngayong taon. Only then I was made aware that the property I bought was a foreclosed property – hindi po nakasaad sa contract to sell ko yun, may habol po ba ako sa developer ko?
Sabi po ng nakausap ko from their head office maccharge daw po ako ng 3% interest pag hindi ko nabayaran ang balloon payment ngayong taon (payable in 3 years). Pero I sent my request 6 months ago and until now wala pa din silang ginagawang action and the status of my request is still for approval ng bank. I understand that it takes awhile before getting a response from the bank (let’s say alam ko na foreclosed yun property) pero the request was sent ahead of time, will I still be liable for the penalty?
Hoping for your response.
Thanks,
Lisa
P.S. I find your website very informative and helpful especially for first-time buyers like me. Thank you and more power!
atty. ask ko lng po.im planning to stop paying once i reach 2 years,just to get my rights for 50 percent refund as mentioned on maceda law…pano naman po gagawin ko kung after 2 years n ako nagbabayad at ipapacancel ko n po ung condo na kinuha ko sa developer. ang problema ko po,since di2 po ako sa abroad at hindi pa kc ako posible makauwe sa pinas,ang tanong ko po,pwede ko po ba ipancel ung payment through phone? o pwede rin po ba ako mag ask sa relatives ko na sya n lng mag cancel ng payment ko sa condo?since di2 nga po kc ako abroad…atty ano po dapat kong gawin? hoping matulungan nyo ako.thank u
Hi po Atty,
ask ko lang po kung 50% ng total na naibayad ko sa lote even before restructuring kasi na restructure po terms ko at forfeited yung kalahati ng naibayad ko. And according po sa developer they still need to deduct the penalties and expired interest kasi 2 years po arrears ko. thanks po.
Hi Atty.,
I just received the notice of cancellation from the seller of my condo unit today. The letter was dated October 8, 2012 and notarized on October 9, 2012. The mail envelope has the date of October 30, 2012 stamped by our city post office but I didn’t receive it until October 31, 2012 (today). The cancellation notice is due to my arrears in payments which amounts to 12 months of non-payments. I have decided to just opt for the cancellation since I no longer have the ability to make payments anymore. The notice says that they recognizes the Maceda Law that I should get a refund of the installments I’ve paid (more than 2 years of amortization and full down payment) but they also stated there that I have an obligation to pay the delinquent amount. Since I am agreeing to cancel the contract, would I still be liable for the unpaid amortization and penalties with interest? Would I be entitled for the 50% refund as per Maceda Law?
Thank you.
Sincerely,
Russell Leyrit
Hello po sir. I stopped paying installments on the piece of property last 2010. Nawalan po kasi ng work ang husband ko. I totalled the number of installments paid po is 14 mos lang and 6 mos po for the downpayment. Ngaun meron na po pinadala yuyng developer na notice of cancellation. Pede ko pa po ba bayaran yung kulang na installments para makabuo ng 24 mos to qualify for a refund? And sir, wala po pala ako contract to sell na napirmahan. Please help. Thanks po
sir yun po bang govt financial institution like gsis is exempted from maceda law?
Greetings Sir Jay,
Kindly asking, does Maceda Law still apply if the developer has not issued a contact to sell yet?
My case po is that I invested in a condo unit and parking last February 2012 and have been paying for around 7mos already amounting to more or less P100k as of this date. Due to some financial difficulties & change in priorities I am contemplating if in case I decide to stop with the investment, will I be able to refund my money? how much? The developer told me that I won’t be able to refund anything despite the fact that there is still no contract to sell yet….
Just want to know my stand so that I would come up with the best decision. Some people around me told me that I can even pursue my situation thru the “small claims law”..is that possible and if in case I pursue such action, will it be worth it?
hope you can give me some tips on my situation. thank you Sir for sharing your time and expertise.
Hi sir jay,
good day po, ask lang po if nakabayad na po kami ng 3yrs sa isang developer den di po kami nakakapaghulog ng almost 4yrs na po possible po ba na makakauha kai ng 50% refund. la rin po kami kc narcv na letter from them den nun tumwag po ako sa customer hotline may buyer na raw po un haus namin at un mga inistall nmn mga lights and tiles di na raw po pede makuha
thank you po.
thank you po
Hello po,
I bought a townhouse sa Profriends last 2009. Sad to say, I got fired from my job hence, I could no longer pay my succeeding monthly amortizations. Under sa Maced Law, dapat entitled po aku sa 50% refund, right? because until now I’m still paying for it. I called their office and the staff said that I’m not entitled sa refund since they only grant refunds daw if my fault ang company, and not because sa arrears or difficulties of the buyer to pay.
But I read the Maceda Law many times, and it indicated that I’m entitled to it, right? Regardless of the reason–since it’s my money anyway and no one is above the law.
Thanks
Dear Sir, buyer po aq ng 1 condo.@ naging sales agent po.sa loob po ng 1 taon naging 3 ang condo ko dahil sa pagsisikap kong makabenta..sa isang taon po ay nag quota ako ng me 70million.pero natuklasan ko po na niluko ako ng broker ko dahil sa kanya napunta lahat ng commision…sa sama ng loob ko hindi ko napasukan ang nga trabaho ko at nawalan aq ng trabaho..nakiusap po ako sa office kung pwede ko pag-isahin ang nga condo ko..pero hindi daw po pwede kesyo under maceda law dapat maka 2 years bago me marefund…hindi nman po ako nagrerefund..nakikiusap po ako kung pwede itransper ang nga naibayad ko sa 2 namin condo….wala din po ginawang action ang office sa panluluko ng broker namin at hindi daw po sakop ng company ang problema ko..samantala nuon po sinabi nila na me 50%KAMING MAREREFUND kung hindi na namin kaya itong bayaran…at maitanong ko na din po,ala nga p bang pakialam ang developers sa problemang panluluko sa akin ng broker na lahat ng benta ko sa taong yon lang napunta ang commision….hindi po ba tauhan nila itong tao at condo nila ang nga binebeta ko??bakit wala at labas sila sa problema…umaasa po sa inyong tugon sa email ko..(deleted by admin)
Hi Josefina, nakakalungkot po ang sitwasyon niyo at maiintindihan ko kung may nararamdaman kayong galit. Ako nga na licensed broker, naranasan ko na rin ang kagaya ng naranasan niyo, may pinagkatiwalaan akong kapwa broker pero lolokohin lang pala ako… tsk tsk… marami talagang ganid sa mundong ito, pati sa industriya ng real estate.
Sa sitwasyon niyo, parang iba kasi ang pag assign ng rights at pag assign ng payments, kagaya ng nabanggit mo. Sa Maceda law kasi, pwede mo i-assign ang property sa ibang tao, pero in your case, ikaw na nga yung may rights dun sa tatlong condo, at gusto mo lang na malipat yung payments sa dalawang unit sa isang unit na lang (tama po ba?). Depende talaga sa developer yan at sa policy nila. Sa banko kasi pwede i-assign yung reservation money sa ibang property, pero pag monthly payments na, ibang usapan na yon.
Kung recognized kayo as an agent pati po ang developer, may karapatan na sila na mag-intervene sa problema, pero kung ang nirerecognize lang nila ay yung broker nila, baka nga sa tingin nila ay manghihimasok at makikialam lang sila.
Matanong ko po, may written agreement/contract po ba kayo ng broker na nangloko sa inyo? At may prueba po ba kayo na client niyo yung mga nakabili ng mga units na worth more than PHP70M? Kung meron po kasi, sa tingin ko po may habol kayo. kung wala, para pong “it’s your word, against the word of the broker” at baka mahirapan po kung magkaroon ng kaso.
Mahirap po talaga magtiwala ngayon basta-basta, kaya kailangan may agreement/contrata, kahit kakilala niyo na ang isang tao para protektado at may habol kayo.
Good morning,
Nakahanap na kami ng buy ng property namin. Bale DP 20% palang tapos namin. So pano po ba ang procedure dun? Pwede bang written agreen agreement muna na kami ang babayaran nia ng DP? The after ma-pay samin ang DP, saka ko transfer ung rights?
Thanks
Yes, that would be okay, suggestion ko po kumuha po kayo ng kakilalang abogado para mag draft ng memorandum of agreement or letter of undertaking.
One more question, Sir. Mas okay ba if benta nalang namin yung property? Matatapos na kasi kami ng DP this November, total is 421K. Yung unit namin sa Carmona for sure 2014 or 2015 pa matatapos. I am still confused if ilalaban ko to sa HLURB because magbabayad kami ng fees, and matagal yung process. Not certain din if 100% refund yung bigay.
So, okay po bang option if benta nalang namin? Or, laban parin sa HLURB? Pwede naman ma-transfer yung property sa ibang tao, right?
Thank you.
Yes, selling through a Deed of Sale or a Deed of Assignment would be another option (covered yan ng Maceda law, please see section 5 above), just make sure how much the assignment fee would be, if any. For other developers, it can be as low as Php10K to as high as Php100K. Less hassle nga yon kesa magkakaso pa, in my opinion.
good day, sir! tanong ko lang po sir kung sa maceda law po ba sa naka state na kung wala pang new buyer sa lupa mo, di ka pa makakarefund? at naka state din po ba sa maceda law kung gaano po ba katagal bago makukuha ang refund? salamat po!
Hi dors, alam ko wala namang provision na kailangan may new buyer muna. Alam ko rin walang nakalagay sa law kung gaano kabilis dapat marelease ang refund, depende na rin siguro yon kung nagcocooperate yung developer.
Good morning,
Our DP will end this November. (24mos installment). Total is 421,000 PHP.
Mag file palang kami ng complaint on Tuesday, October 9.
So, since matagal ang usad ng kaso with HLURB, by the time na refund kami, 50% lang? Hindi ba namin pwede ma-refund yung buo? Ang laki ng 421K para mabawasan ng kalahati.
Thank you.
Hi Amidala, if you are able to establish that you have been paying for at least 2 years, the 50% refund is the least you can get based on the maceda law. But if you want to refund the whole amount because of issues with the developer, I suggest that you check with HLURB if there are grounds for a full refund. You can contact HLURB directly by consulting with the Legal Services Group at the HLURB Central Office in Kalayaan Ave., cor. Mayaman St., Diliman, Quezon City or call them at 924-3367/927-2697/920-8749.
Thank you very much!
You’re welcome! 🙂
sir last thing po do u have other no. i cant connect to the no. that uve given me, and i cant send an email either. tnx
Hi Ms. Maryann, will check if there’s another number and get back to you…
Hi Ms. Maryann, based on the forum of HLURB (http://hlurb.gov.ph/forum/index.php?topic=34.msg149#msg149) , you can contact them as follows:
hi thanks for the quick response….
You’re welcome ma’am!
HI… PANO KUNG TAPOS NG HULUGAN ANG DOWNPAYMENT TPOS NG TAKE OUT N PO NG LOAN S BANK, DI NMEN PWEDE TIGNAN UNG HAUS BEFORE HANGGAT DI PA NTATAKE OUT ANG LOAN, TPOS NUNG NATAKE OUT N UNG LOAN PINUNTAHAN NAMEN, PGATINGIN NAMEN DI UN ANG GUSTO NMEN N HAUS, IT WAS A DUPLEX AND NOT A SINGLE ATTACHED, AND WE ARE PREFERRED BY SINGLE ATTACHED, DI DIN NILA KME INFORM N DUPLEX UN, KYA DI KO ACCEPT ANG HAUS KSE DI UN ANG GUSTO NAMEN N HAUS, NGAUN PINAPILI KME JUST INCASE DAW N PGBIGYAN ANG PG TRANSFER NAMEN, THEN WE SEND A LETTER S DEVELOPER WHICH THEY TOLD US TO DO SO, AFTER 1MONTH THEY CALL US N DI DAW PO KME GRANT N MGTRANSFER KSE NATAKE OUT N DAW UNG LOAN S HAUS, SBI KO NMN KUNG SINABI NYO SKEN N DUPLEX UN EH DI DAPAT BAGO P MAOUT UNG LOAN EH NKALIPAT OR DI KO N TINULOY, THEN SBI SKEN FOR RECONSIDERATION DAW, GUMAWA N RIN AKO NG EFFORT TUMAWAG N DIN AKO S BANK TO KNOW WAT TO DO ABOUT MY CONCERN, THEN THE BANK TOLD ME THAT IT CAN TRANSFER BUT THE DEVELOPER SHOULD MAKE A LETTER TO TRANSFER, PUMUNTA AKO ULET S DEVELOPER THEN I TOLD THEM WAT THE BANK SAID, AGAIN THEY WANT ME TO GIVE THEM AN AMPLE TIME TO PROCESS AND ILAPIT DAW S HIGHER LEVEL, SO I WAITED AGAIN FOR 1 MONTH, THEN THEY TOLD ME NOW N DI DAW N APPROVE KSE MARAME DAW I COCONSIDER ANG BANK, IT MEANS MARAME FEES, SBI KO ON THE FIRST PLACE DI NYO AKO INFORM SNA MAN LANG YUNG CONSIDER N UN OR FEES EH ISHOULDER NG DEVELOPER SINCE IT WASNT MY MISTAKE, IM WILLING TO GIV ATLEAST 10% OF THE TOTAL COST PRA LANG MATAPOS N….. THEY AGAIN TOLD US N WAIT KO DAW ANG KOL NILA WITHIN A WEEK, ASK KO LNG IF EVER MAY HABOL PO B AKONG MAKUHA LAHAT NG NABAYAD KO? KSE DI KO NMN TLGA KSLANAN UN, UNG AGENT NILA CNSBI DIN SKEN N WLA SILANG GANUN MODEL N DUPLEX LAHAT DAW SINGLE ATTACHED KYA UN ANG SINABI NILA SKEN AT SIGURADO SILA DUN, KAYA UN, EH PARANG NAPAPAGOD N DIN AKO, PARANG MAS GUSTO KO IREFUND LAHAT NG PERA KO TPOS KUHA N LNG AKO NG RFO N SINGLE ATTACHED S IBANG DEVELOPER.MAY HABOL PO B AKO? TILL NOW AUTO DEBIT PA RIN S BANK KO UNG BAYAD SA DUPLEX N BAHAY.
Hi Ms. Maryann, mabuti po isangguni niyo po agad sa HLURB lalu na at naka autodebit arrangement kayo. You can contact HLURB through their website (http://hlurb.gov.ph/) or call/email their Legal Affairs Group:
Telephone No.: 920-8749
E-mail: [email protected]
Hi po sa Cebu kami nakakuha ng property po kagaya po kay maam Maryann, hinde duplex ang pinakita samin both the agent and developer.. pero bakit duplex nga! ng meet na ang SPA namin at ang developer sa HLURB pero pinanigan parin ng HLURB ang developer… na tama daw sila.. pano yun bakit walang Consumer Rights Act ang Pilipinas.. Kung ano yung pinakita during the time of reservation bakit hinde yun ang madedeliver?
@maryann anung developer yan? May problem din ako sa developer ko eh
Hello po, pareho po tayo ng case anong developer po yan?
Paano kung meron ka nang nakitang di maganda sa gawa ng developer mo. Tulad ng na feature sa Imbestigador noong Sept 23.. May habol ba ang buyer kung walang 2 years ang payment?
Hi Dave, dapat may habol pa, HLURB ang makakatulong. Please contact them using these which I got from their website: (http://hlurb.gov.ph/)
ask ko lang po kung pano kung two years palang po ako nakakapagbayad, hindi ko na po kayang ituloy ang payments ko, two yrs na po ang arrears ko , may ipnadala napong noticeof cancellation,may makukuha pakaya ako. na acquire ko po ito as second buyer noong year 2000, ako na po ang nagbabayad since then, hanggang nagpa re structure po ako nung 2009.
Dapat po meron kayong makukuha na 50% nung naibayad niyo kung 2 years na kayong nagbabayad.
my house po me kinukuha gusto ko na pong i cancel kaya nga lang sabi ng developer pag cancel ko daw ung contract nmin ala daw me makukuha pr no refund i paid already about almost 130thou. what i will do?
Umabot po kayo ng 2 years na nagbabayad?
As ko lang po pwede po bang ma refund yung down payment namin, kasi kumukuha kami ng bahay at nakumpleto na yung 1 year down payment at ang sabi nila mga 1 year pwede ng tirahan hanggan ngayon wala pa 7% palang ang natatapus mga December 2012 pa raw matatapus.
Kung umabot po sana kayo ng 2 years na nagbabayad, marerefund niyo po sana ang 50% ng naibayad niyo. Tinuloy niyo po ba ang pagbabayad?
hi. purchased a condo on jan 2011: paid the reservation fee (P20T) on jan 2011; P185T – 5% DP on feb 2011; then from march 2011 to dec 2012 paid the installments (15% divided by 24 months – P25T per month). Will I qualify under Maceda Law if I will not to continue with the monthly amortization starting january 2013? Many thanks in advance for your help.
hi. purchased a condo on jan 2011: paid the reservation fee (P20T) on jan 2011; P185T – 5% DP on feb 2011; then from march 2011 to dec 2012 paid the installments (15% divided by 24 months – P25T per month). Will I qualify under Maceda Law if I will not to continue with the monthly amortization starting january 2013? Many thanks in advance for your help.
Nakabili din po kami ng husband ko ng condo. Nakabayad na kami ng monthly amortization for 43 months. meron pa pong remaining na 17 months for payment. kaya lang di na po namin kayang ipagpatuloy ang pagbabayad. Directly po kaming nagbabayad sa developer. Nagpadala na po ng notice of cancellation/Forfeiture ang developer dated June 1, but they just sent it & just received it june 18. May habol pa po ba ako sa refund?
After knowing the Maceda Law, what are the step or precedures po to avail the 50% refund?
Dapat po meron kayong habol sa refund. Na try niyo na po bang kausapin ang seller with regards to your refund, stating that you are aware of your right to a refund because of the Maceda Law?
ask ko lang po kung ano mangyari kung namatay na yung buyer at nakahulog na sya ng 4years sa 5years contract ng lote o mahigit na 80% sa total lot value? ma aaward na lang ba sa kanya ba sa kanya yung lote without paying the remaining balance? o makakakuha na lang sya ng 50% na refund sa total na binayad?
Yung pong nasabi niyo na considered fully paid na dahil namatay ang buyer, mortgage redemption isurance or MRI po yon. Dapat po ma check niyo kung meron ngang MRI.
ask ko lang po kung ano ang mangyari kung namatay na yung buyer at nakahulog na sya ng 4years sa 5years contract ng lote o mahigit na 80% sa total value ng lot. ma aaward na lang ba sa kanya yung lote without paying the remaining balance? o makukuha na lang yung 50% na refund sa total na binayad?.
Is Maceda law covered Pag-ibig Loan?WE have Pag-ibig housing loan for 10 years to paid we already paid for 4 years now. as of now di na kami makabayad. meron po pa kami marerefund as pag-ibig?
Mortgage po ba or contract-to-sell. Kung contract-to-sell po, dapat applicable ang Maceda Law. Pag mortgage po kasi, considered fully paid na yun dahil may Deed Of Absolute Sale na, hinuhulugan na lang yung utang.
Jay,
Do you mean hindi na covered ng Maceda Law yung utang mo sa bank kapag nagbank finance na yung purchase mo ng property?
How about kung in-house financing? Normally kasi, downpayment (payable until the property is constructed) plus full payment of the selling price ang mode of payment. Tama ba ang understanding ko na kapag in-house financing na ay mortgage na yun, so hindi applicable ang Maceda Law katulad ng example mo above na Pagibig ang nagfinance?
So ang ibig sabihin ho ba nun, hindi nagaapply ang Maceda Law sa mga naka mortgage / housing loan sa banks?
Hi LJ, I believe if a housing loan is done through a mortgage contract, considered fully paid na yung purchase ng property dahil may deed of absolute sale na, what’s being paid for is the loan with the bank loan. Other housing loans done through a contract-to-sell should still be covered by the maceda law.
4 years po kaming Hindi nkakabayad sa pag.ibig pru sa binigay na palugit 60% lang ang nabayaran namin sa amuroso, pwedi pa ba naming e continue ang pagbabayad kahit tapos na ang binigay nilang palugit sa amin? At ma rerefund ko pa ba yung binayad ko last month na 60%? 🙁 help help
ask ko lang po, kumuha po kami ng house and lot, may reservation agreement po ako pinirmahan na nakalagay dun na no refund. ang sabi pa sken 50% ng downpayment start ng gawin ang house, ang problema ko po tapos na po kami magbayad ng downpayment hangang ngaun po mag 2months nako naghihintay gawin yung house pero hangang ngaun wala pa din ginagawa bahay lagi lang saken sasabihin na gagawin na pero wala, balak ko nalang ewithdraw at maghanap ng bahay na ready to move in, pero sabi saken wala daw ako makukuha sa binayad ko, sila naman po hindi tumutupad sa usapan. may makukuha pa po ba ako sa downpayment na binayad ko? sana po masagot nio po ako salamat po & god bless.
I just want to ask my right? I gave a full downpayment in cash, no installment in one of the housing project in cavite, its been more than 2 years now, that they dont give a good answer, unit is not ready, no bank calls for credit check. They promised me after 465 days, unit will be turn over to me, but 465 days past,, now im asking a refund of my down payment,, but they said it was denied,, please help me what to do
We acquired a lot on Feb 20, 2010. We started paying the 6monthly installment on downpayment on March 20, 2010 and started paying the monthly amortization on Sept. 20, 2010. However, we defaulted on our monthly amortization last Feb. 20, 2012. My question is, how many months do we still have to pay in order for us to qualify for a refund of 50% according to the Maceda Law – RA6552?
ang sister ko po ay kumuha ng house and lot last 2009..she had already paid the full downpayment last yr pa..ngkaroon ng problem ang developer kya nastop ang construction ng unit..early last yr inaasign ng developer sa isang bank yung property na kinukuha nya but until now wla pa ring malinaw na usapan between the two parties kya di pa rin matapos tapos yung bhay..my right po ba na irefund na lang ng sister ko yung downpayment na hinulog nya if she decide na magbackout na lng..kung ang developer ang nagkaroon ng problem kya di natuloy ang paghulog ng buyer applicable po ba ang maceda law pra walang marefund ang buyer if less than two yrs lng nakapaghulog sa downpayment? in the first place, she was given 12months to pay the downpayment in full..thank you and i hope that your response will help me to take some favorable actions regarding this matter..God Bless and more power..
Weng nasagot na ba yang tanong mo? Same problem kc sa akin…
Ask ko lng po kung may ma rerefund pa ako sa housing loan ko more than two years po kami tumira sa bhay namin then 1 year po kami nkatira sa bhay namin, pero tumagal po bkasyon ko as a seaman kaya di kami nkabayad, ngaun po umuupa n lng kami, may chance pa po ba na may ma refund kami kahit konti sa hinulog gko in 2 years.thank you po!!!
just want to ask if i will be entitled to 50%, i payed 27mos out of 30mos of downpayment, but i haven’t signed the contract yet since i’m outside the county. House and Lot not yet built.
Paano naman ang mga nakapagbayad lang ng 18 months, may makukuha din kaya kahit paano?? I look forward to your speedy response, thank you.
what if downpayment palang yung binayaran. pwede pa bang i withdraw yung contract??
just want to ask about the 50% refund? makukuha b agad un ng buyer or paano ang procedure? kailangan b umalis muna ang buyer s bhay bago ibigay ung refund?
comment lang paano kung nagsign ako ng contract pero nakasaad duon na no refund policy? may karapatan pa din ba ako na marefund ung ininvest ko let say 2yrs na ako nakakabayad?
i guess yes kasi in Section 7 it states that any contract contrary to section 3-7 will be considered null and void…so meaning yung contract na nakalagay na you cant refund is void kasi it is also our rights as buyers to protect ourselves from developers. So any developers shouldnt claim any immunity to the law. So dapat makukuha mo parin ang 50% refund no matter what kaya nga ginawa ang batas na yan.
please post now the salient features of maceda law and recto law..please..
nice job on posting thanks its a good information for real estate buyers/investors