Foreclosures: Path to Home Ownership for Filipinos

Wazzup Pilipinas!

Don’t be limited by your budget. Take advantage of foreclosure investments at the Lamudi Housing Fair this November

As the Philippine real estate industry continues to flourish, more and more properties are being developed especially in all vibrant and emerging cities of the country. Although this progress means success to the sector and to the economy, it affects the purchasing power of common Filipinos toward home ownership, as it means more expensive homes.

To address this problem, other viable means to own a property are being explored. One option that continues to gain popularity is the acquisition of foreclosed properties. Lamudi Philippines and partner My Saving Grace Realty & Development Corporation (MSGRDC) will showcase some of the 15,000 foreclosed properties that they manage and will offer it for auction to the public at the Lamudi Housing Fair on November 18–20 at the SM Megamall.

MSGRDC is a brokerage owned by Ramil Alquileta that specializes in foreclosed properties. In the process, the real estate firm also educates Filipinos about the advantages of foreclosures. The foreclosed properties handled by MSGRDC are owned by different banks and Special Purpose Asset Vehicles Companies (SPAV).

Alquileta believes that with proper education, foreclosures can indeed be a smart way to put a real estate asset under your name. To further help people who are eyeing their first investment, Alquileta also enumerated some of the advantages of buying foreclosed properties: (a) Buyers can use regular mortgage financing; (b) Properties are clean and named under reputable owners such as banks; (c) and most especially, property is sold for outstanding mortgage balance, which means it is priced way lower than the market standard.

Know more about foreclosed properties acquisition and take advantage of the property auction only at the biggest housing event in the country this 2016. Apart from the auction, the Lamudi fair will also feature the widest selection of properties and offer exclusive discounts to home buyers and property investors. Investment and homebuying seminars and virtual reality application in real estate can also be learned and enjoyed at the fair.

For more information visit www.lamudi.com.ph/housing_fair/

Espinosa Killing: Awfully Unsettling, Height of Impunity

Wazzup Pilipinas!

The killing of Albuera, Leyte Mayor Rolando Espinosa Sr. inside his cell is awfully unsettling. That Espinosa was brazenly shot dead behind bars is the height of impunity.

Independent, inter-agency task force

I call on the Duterte government to immediately form an independent inter-agency task force to conduct a swift and thorough investigation of this disturbing incident. The government must get to the bottom of this issue and answer the following questions: Was there foul play behind the mayor's death? Why was a warrant served at 4:00 am to someone who is already behind bars and without proper coordination with jail guards? Why was the hard drive of the jail's CCTV cameras removed? Was there poor jail management?

I believe the majority of the police force is honest and trustworthy. Yet, the PNP, as an institution, cannot possibly earn the public's trust and ease their fears if incidents like this happen in its very backyard. It also cannot realize security sector reforms under such a climate. The Duterte government cannot convince the public that the country is safer now if the police force's image is continuously tarnished by cases of human rights violations and other abuses. 

i-ACT Goes All-Out on Clearing Major and Secondary Roads

Wazzup Pilipinas!

The Inter-Agency Council on Traffic (i-ACT) is stopping at nothing when it comes to clearing major and secondary roads of illegally-parked vehicles and sidewalk vendors.

From July 6 to November 2, 2016, a total of 5,728 illegally-parked vehicles have been towed and 2,479 illegal sidewalk and footbridge vendors have been cleared. Intensified clearing operations are being conducted daily, even on holidays, to ensure that there will be no obstructions in primary and secondary roads. The i-ACT is encouraging motorists to take secondary roads, such as Mabuhay Lanes, to decongest EDSA and C5.

To rid highways of traffic violators, a total of 26, 016 citation tickets have been issued and 247 colorum vehicles have been impounded.

These efforts are on top of stricter enforcement and suspension of window hours for coded vehicles in almost all of Metro Manila.

The i-ACT, the single traffic authority in Metro Manila, is also tapping force multipliers and volunteers to help in traffic management. It is also asking shopping mall operators to provide enforcers who will help manage traffic flow going in and out of their establishments especially this Christmas season.