Pag-IBIG Fund to waive penalties for delinquent borrowers

MANILA, Philippines—To encourage delinquent members to pay their loans, Pag-IBIG Fund will condone penalties on overdue principals debts starting next year, a report on Radyo Inquirer 990 AM said Tuesday.

According to Pag-IBIG Fund’s Chief Executive Officer Darlene Berberabe, the new directive, which focuses on housing loan penalties, will take effect in January 2012.

Berberabe said that delinquent members should take advantage of this chance being offered by Pag-IBIG to help them settle their arrears.

For questions regarding the new ruling, members can call the billing department of Pag-IBIG Fund at telephone numbers 811-51-84 and 848-8241.