GSIS forecloses 3,000 residences
|Posted by Manila Mail under Philippine News|
The Government Service Insurance System (GSIS) is aiming to dispose next year through its GMA HELPS program and on “as is, where is” basis about 3,000 foreclosed residential properties nationwide valued at some PhP2.5 billion. GSIS Housing Department manager Jose Antonio Bayoneta said this planned disposal will include vacant lots. “These properties are about PhP600,000 each,” he said at the Oct. 29-31 Housing Fair in Mandaluyong City. GMA HELPS (Garantisadong Mababang Amortization na House en Lot Para Sayo) program is open to members and non-members of GSIS interested in acquiring pre-owned residential properties. “We’re offering six percent interest on any loan amount and amortization is up to 30 years,” Bayoneta said.