Hello. Please help.
Last May 2021, I have made my reservation to a pre-selling house&lot then by June 2021, I have started paying thru online since its pandemic days. We finished paying the equity by November 2022 as agreed in the contract. By December 2022, eventhough the unit is still 0% contruction, we started paying advance monthly amortization to the developer. They said that once approved by HMDF it will be decucted. But after 3 months of paying the construction is still 0% so we have requested for a stop-payment scheme.
This year, March 2024 the developer told us that the unit is now for take-out but there are changes in the employement for both me and my husband so we have submitted a new set of document. Unfortunately, last month, May 2024 my husband lost his job and he is the Principal Barrower so our plan is for me to become the principal barrower. Unfortunately, my account has been blacklisted in HMDF because the house of my mother had some problems when she passed away during pandemic.
To summarize, I have asked the developer if we can still refund the equity that we have paid as well as the advance monthly amort. But the agent said that the monthly amort only is the amount we can refund. The rest of the equity that we have full paid is non-refundable. Is this legal? All along we thought that the requirements that we have submitted way back 2021 is settled and no more problem in Pag-Ibig.
Appreciate your advice. Thank you.
