THE Government Service Insurance System (GSIS) is offering families who have been illegally occupying GSIS-owned houses an affordable and low-interest purchase deal to give them a chance to own the property.
“For as low as P3,500 a month for every P500,000 loan, these families can secure themselves of a good future,” Atty. Joseph Philip Andres, GSIS VP for Business Development and Accounts Recovery Office said.
The interest rate is guaranteed at 6 percent per annum for a term of up to 30 years.
Andres said most of these illegal occupants are not the original awardees who had entered into a Deed of Conditional Sale (DCS) with the GSIS.
“A significant number of these illegal occupants are victims of a syndicate. The group reportedly offers the foreclosed houses for a very low price but their titles are fake,” Andres said.
“These families end up paying for a property that could never be theirs because the titles are still with the GSIS. The best thing for them to do is to directly deal with the GSIS,” he added.
The offer is also open to the original awardees who have long been in default of their payments and whose DCS have already been cancelled by the GSIS.
More information is available at the GSIS website www.gsis.gov.ph.