Globe Asiatique agent sheds light on housing loan mess
MANILA, Philippines - Maria, allegedly a "sub-agent" of Globe Asiatique Realty Holdings Corp. approached a Pag-IBIG fund office in Bataan to share information on the controversy surrounding the developer and the state-run fund.
The agent, alias "Maria", told Pag-IBIG she was recruited by an employee of the GA Development Xevera in Mabalacat, Pampanga to collect signatures for Pag-IBIG housing loan applications.
Aside from the signatures, she was also instructed to get identification like birth certificates, and notices of billings.
Maria said some applicants were still accepted for processing even if they did not have any of the required papers.
"Ginagawa na lang nila, kung wala yung ganitong ID, sila na lang kikilos. May doc sa Xevera kung ano man ang kulang sila na nag-aayos," Maria said.
Maria said she was paid P500 per applicant and another P500 once the Pag-IBIG loan pushed through. There was even a P1,000 fee for "special buyers" who let Maria use their names for loans.
When the GA controversy broke on the news, Pag-IBIG began "house-to-house" background checks on homeowners in Xevera.
Some of Maria's "clients" now blame her for allegedly forcing them to sign on loans, even though they have no capacity for repayment.
"Karamihan pa dun nagtratrabaho lang sa bukid tapos walang pinag-aralan tapos sinabi lang pumirma, pirma lang ng pirma para lang kumita," Maria shared.
Fearing for her safety, Maria decided to approach Pag-IBIG with information on the case. She even presented a list of payments handed to special buyers. The list was allegedly signed by a GA employee.
But Globe Asiatique president Delfin Lee said there are no "sub-agents" in his company. He also denied knowing about any special buyers.
"Kung totoo man ang sinasabi niya, ba't dapat siya ang kasuhan ko. Ako niloko niya rito. Kung sila's nag-apply ng loan tapos di nila babayaran, kami mananagot, eh di kami mapipinsala dito," he said.
The Pag-IBIG fund itself is now receiving flak over the controversy.
Senator Serge Osmena said the state-run fund's own operations are also to blame for allowing these "questionable" loan applications to push through.
"It's the PAG-IBIG that should be jailed for making this arrangement. Its absolute stupidity and its happened before," Osmena said.
Pag-IBIG is conducting an internal investigation into the matter. - With ABS-CBN News
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Be Very AFRAID
BEWARE AND BE VERY AFRAID.. THIS IS AN OLD DIRTY STRATEGY BY REAL STATE DEVELOPERS TO SELL HOUSE AND LOT PROJECTS FASTER THAN HOT CAKES WITHOUT HASSLE VIA SYNDICATED AGREEMENTS WITH CORRUPT GOVERNMENT HOUSING FINANCING AGENCY OFFICIALS.
SIMPLE CROOKED MECHANICS.
1. REAL STATE DEVELOPER BUILDS HOUSE /LOT
2. DEVELOPER AND AUTHORIZED BROKERS PLAN FAST MARKETING STRATEGY IN HARD TIMES THRU GOVERNMENT FINANCING AGENCIES
3. SPECIAL AGREEMENT BETWEEN DEVELOPER/BROKER AND CORRUPT GOVERNMENT FINANCING AGENCY OFFICIALS TO APPROVE HOUSING LOANS OF APPLICANTS EVEN WITHOUT THE CAPACITY TO PAY BACK.
4. WITH THE LOAN APPROVED THE GOVERNMENT FINANCING AGENCY PAYS ITS FULL PROPERTY CONTRACT PRICE OBLIGATION TO THE DEVELOPER/BROKER.
5. THE DEVELOPER /BROKER HAD SOLD OUT ANOTHER PROJECT EVEN IN HARD TIMES.
6. THE CORRUPT AGENCY OFFICIAL (IN THIS CASE PAGIBIG) POCKETS BRIBE MONEY FROM DEVELOPER/BROKER.
NEXT WORST SCENARIO:
7. THE BUYER HAPPILY MOVES IN TO NEW HOUSE AND LOT, STILL WONDERING HOW HE GOT APPROVED BY PAGIBIG WITHOUT THE CAPACITY TO PAY BUT ONLY MANAGED TO SAVE FOR THE LOW DOWNPAYMENT. PRAISE THE PAGIBIG HE NOW OWNS A HOUSE AND LOT!
8. LETS FAST FORWARD : AFTER A YEAR OR TWO OF PAYING MONTHLY AMORTIZATIONS WITH PAGIBIG, BUYER BECOMES A DELINQUENT PAYER OR WORST STOPPED PAYMENTS ( SINCE HIS CAPACITY TO PAY WAS ”BLINDLY” TAKEN IN AND FINANCIALLY UNSTABLE ).
9. SINCE LOAN WAS PAYABLE FOR 5-10-15 -25 YEARS THE GOVERNMENT CARRIES THE LOAN BURDENS AND SUFFERS FINANCIALLY.AND HAVE NO CHOICE BUT STILLTO HELP DELINQUENT OWNERS BAIL OUT THRU LOAN RESTRUCTURING PROGRAMS THOUGH OTHERS END UP IN FORECLOSURES. THE WOST HAD HAPPENED AND DAMAGE DONE.
10. THE CORRUPT PAGIBIG OFFICIAL COULD ENRICH HIMSELF IN JUST A MATTER OF YEARS AND VANISH EARLIER OR ABLE TO GO SCOT FREE UP TO HIS TERM.
11. THE REAL ESTATE DEVELOPER / BROKER CONTINUE TO PROSPER AND DEVELOP MORE PROJECTS USING THIS LUCRATIVE VISCIOUS CYCLE.
GOVERNMENT AND PEOPLES MONEY IS SIMPLY TRANSFERRED TO BANK ACCOUNTS OF CORRUPT OFFICIALS AND BUSINESSMEN IN THIS SYNDICATED SCAM.
THIS IS A BIG PAIN IN THE NECK OF OUR GASPING NATION. THIS IS ONE OF THE MAJOR CAUSES OF THE RECENT RECESSION THAT STARTED TO HAPPEN IN THE U.S. AND BECAME A WORLD FINANCIAL PLAGUE.
THE SENATE AND CONGRESS MUST ACT FAST ON THIS ISSUE , WE HAVE SEVERAL SUCCESSFUL AND KNOWLEDGEABLE REAL ESTATE DEVELOPERS ALREADY IN THE HIGHEST POLICY MAKING BODY OF THE GOVERNMENT. LET HEADS ROLL AND SET EXAMPLES ,OR FORGET THE PROGRESS THAT THE PEOPLE ARE HOPING FOR.
APPEAL TO OUR PRESIDENT TO STEP IN ON THIS . THIS IS A CLEAR FINANCIAL CRISIS OUR COUNTRY IS FACING.