I applied for an SSS salary loan but was denied due to my outstanding housing loan arrearages with NHMFC. How can I settle my arrearages?

There are various restructuring and updating programs the NHMFC is offering right now. Please visit our offices so we can fully discuss the mechanics of these updating/restructuring programs.

I assumed the housing loan of my friend. How can I formalize my assumption with the NHMFC?

Please visit our NHMFC offices for the requirements and proper documentation of this transaction.

My salary deduction on my housing loan was stopped due to my transfer to another office. Where can I resume paying my monthly amortization?

You can resume paying your monthly amortization at any of our accredited collecting agencies (BPI-FB, EPCIB-BDO, DBP, PNB and Bayad Centers), Zonal or Satellite Offices (Please see listing under “Contact Us” section). Please pay on or before due date to avoid penalties and interests.

My property is located at Sta. Rosa, Laguna. However, I have since been reassigned at our Cagayan de Oro branch and fully paid my housing loan here. May I request my TCT be released at NHMFC Cagayan de Oro?

Yes. Your TCT and Release of Mortgage will be sent to our Cagayan de Oro Zonal Office for release. All you have to do is write NHMFC a letter request.

I received a letter from NHMFC stating that my account was already assigned to Balikatan. Where can I inquire about the status of my account?

You can inquire directly about the status of your account at Bahay Financial Services, Inc. located at 24th Floor, BPI Buendia Center, Sen. Gil Puyat Ave., Makati City, or by contacting them at telephone no. 756-62-68.

Do you allow the sale of mortgaged property “internally” between mortgagor and another person or third person party? If so, what are the legal requirements and procedures?

Yes, we have a program called Sale with Assumption of Mortgage. To be binding to NHMFC, the legal form called Deed of Sale with Assumption of Mortgage (DOSAM) must be executed with the consent of NHMFC. It means that NHMFC must be a signatory to DOSAM aside from the vendor and vendee. The vendee/assumer, in effect, shall step into the shoes of the vendor/original borrower.

How are public biddings done properly? Are there news publications of bidding?

The public bidding is via extrajudicial foreclosure of mortgage which is conducted by the Sheriff under the supervision of the RTC Judge. Publication in a newspaper of general circulation in the area where the property is located is required for three (3) consecutive weeks prior to public auction.

How can we or anyone participate in the bidding?

Just go to the Sheriff’s office at the scheduled date and time, and submit your bid offer with the corresponding Manager’s Check.

What is the remedy of the original borrower?

If he is interested to retain his property that was foreclosed, he should redeem the property within one-year from the registration of the Sheriff Certificate of Sale with the Register of Deeds.

For further inquiries, please don’t hesitate to call us at 893-1501.