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Problems with GSIS housing loan? Read this

The Government Service Insurance System (GSIS) has announced that applications for its new housing loan restructuring program are now being accepted.

Applicants in Metro Manila may call tel. 4793548, 4793583 or 4793587 to set an appointment. The phone numbers of GSIS offices in the provinces may be found on its website, www.gsis.gov.ph. Only applicants with an appointment will be attended to.

The program is aimed at helping housing loan borrowers settle their arrears or update their accounts, GSIS President and General Manager Robert G. Vergara said in a statement.

He said the GSIS will condone all unpaid penalties and surcharges and grant extended payment terms to those who qualify for a restructuring of their accounts.

Those with current accounts will also benefit from the program as their monthly amortization will be reduced through an extended payment term if they apply for restructuring, Vergara said.

He said that “forecloseable” accounts and cancelled deed of conditional sale (DCS) accounts that had not yet been sold are eligible under the program, and that by restructuring, the auction of the property may be postponed and foreclosure or cancellation of the DCS account may be withdrawn.

Applications for loan restructuring will be accepted until Dec. 31.  No application fee is required for the program.

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