Pag-Ibig announces condonation programs

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05:45 AM January 9th, 2012

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January 9th, 2012 05:45 AM

THE Pag-Ibig Fund is offering penalty condonation program for delinquent and unregistered employers.

The program covers employers who have not collected membership contributions from their employees.

Employers who collected membership contributions and/or short-term loan amortization payments from their employees but failed to remit the same to the fund, and employers who have previously availed of any penalty condonation offered by the fund are excluded from the coverage.

The condonation program runs from Jan. 1 to June 30. For details, visit the Pag-Ibig office or call the Marketing and  Enforcement Division at 415-5002 or 415-5003.

Pag-Ibig also announced that the housing loan restructuring and penalty condonation program is now available to all housing loan borrowers (except Window 1 accounts) with over three months in arrears in amortization payments.

Rio R. Teves, department manager of Pag-Ibig Fund Cebu South branch, said affected borrowers may apply for the penalty condonation program until June 30. Application filed after the deadline will only be for loan restructuring.

Housing loan borrowers who want to avail of the program may visit the Loans and Contribution Management and Recovery Division with contact numbers 234-2709, 231-5570 and 415-5087.

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