Published
By Chino S. Leyco
State-run Government Service Insurance System (GSIS) has extended its
housing account condonation program for another year to give
prospective applicants more time to pay off their housing accounts.
GSIS logo (Courtesy of gsis.gov.ph)
In a statement, Jesus Clint Aranas, GSIS president and general
manager, said yesterday that the cutoff date for the ongoing housing
account condonation program has been extended until December 31, 2019.
“We fully understand the predicament of our housing buyers and
borrowers who are struggling to keep their homes, so we heeded their
appeal. The program’s cutoff date was moved to December 2019 to help
them finally own their house,” Aranas said.
The housing condonation program seeks to lighten the burden of
prospective applicants in settling their housing account obligations, as
it prevents penalty charges from accruing on their unpaid
amortizations.
Active and former GSIS members, as well as non-members, with
deeds of conditional sale or real estate loan accounts that are in
arrears or in default may avail of the program.
Also qualified to apply for penalty condonation are buyers whose
deeds of conditional sale have been cancelled but not yet uploaded as
investment property, as well as real estate loan borrowers with
foreclosed accounts but the titles of which have not yet been
consolidated in the name of GSIS.
Buyers of rights and legal heirs of deceased buyers or borrowers may likewise apply.
Aranas also encouraged interested buyers or borrowers to apply for
condonation as soon as possible to avoid incurring further penalties and
surcharges of at least one percent per month.
“Seize this opportunity to protect your homes – your place of
comfort, security, and privacy. We all need a place of our own where we
come from every morning and return to every night,” he said.
Applicants who will settle their accounts in full should request an
appointment and condonation statement of account from the nearest GSIS
office.
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