Art2ro Posted June 11, 2011 Posted June 11, 2011 "Balikbayans" , are in same classification as U.S. retirees! I'm a Fil/Am and a U.S. military/Civil Service retiree and also a "Balikbayan", the BB stamp in my U.S. Passport says so! Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted June 11, 2011 Forum Support Posted June 11, 2011 "Balikbayans" , are in same classification as U.S. retirees! I'm a Fil/Am and a U.S. military/Civil Service retiree and also a "Balikbayan", the BB stamp in my U.S. Passport says so! :AddEmoticons04230: Link to comment Share on other sites More sharing options...
United Army Posted September 7, 2011 Author Posted September 7, 2011 This is sort of funny, but we moved into our Talisay townhouse Jan this year, got a bank loan with BPI. As of today we have not had to pay any type of mortgage yet, it seems like they are still processing our paper work, title, etc., is this normal for a bank to take this long? I would be sure to get something in writing that you are not supposed to be paying because if not, then they can foreclose on you and say they sent you notices and you never responded. There could be many reasons for what is happening but speculating will only cause you anxiety, so I will not go there. If I remember correctly, you told me they will withdraw it from your account, so just keep funding that account and still try to get it in writing why it is taking so long. As for is it normal, not from what I have seen and heard but this is the Philippines where anything is possible. My guess is they will make you pay it all at one time once they get it all worked out, but I would want to have proof that I at least tried to pay such as deposits and a letter from them. That's par for the course for BPI, but they are a reputable bank! I have a 12 yr mortgage home loan with BPI and have 3 yrs more yrs to pay on it or I can pay it off in 4 months lump sum since it is now a small amount! Just keep in constant communication who handled your loan application and after signing of all the documents! I have auto monthly debit of my monthly mortgage payment from my BPI peso checking account, I just make the account has sufficient funds every month! I have paid all of the interest on the load and now my monthly payments is being debited from the principle unpaid balance, no more interest to pay! I have been talking with the developer here and this is normal for some reason, it might be at the end of the year the banks have a quote to meet, and then a backlog starts. I have a savings account with BPI, they asked me to get this set up so they can withdraw my mortgage, after the papers are done. I got this savings account set up back in Dec 2010 and so far no withdrawal for my mortgage. The bank also told me that when my papers are done, I will have to go the bank, sign papers again, pay 7,000P for fire insurance and get life insurance set up with them, all of which have not been done yet and then they will start taking my mortgage from my saving account the next month. I sort of think that in July I will have my first mortgage payment. Well after 9 months of living in our new townhouse and not having to pay a mortgage, we finally got a call from BPI, and went there yesterday and signed papers to start our housing loan. Boy it sure took them a long time to get this done. We also signed papers to release payment to the developer. The mortgage payment will be starting in mid October, so we have one more month of free living.... Link to comment Share on other sites More sharing options...
Art2ro Posted September 7, 2011 Posted September 7, 2011 We had 2 years of free electricity and water, because we were tapped into their perimeter grid! Good for you, but now you're back to reality! We've been there and will be done with our mortgage payments! Our home will be paid off soon in 6 months or less! We too are with BPI! Link to comment Share on other sites More sharing options...
Recommended Posts