SAN FERNANDO, Pampanga, Philippines – It’s the Home Development Mutual Fund or Pag-IBIG Fund, not jailed Globe Asiatique (GA) president Delfin Lee, who is to blame for the mess now affecting buyers of real estate at Xevera subdivisions in this province.
This assertion was contained in a civil case filed before the regional trial court (RTC) here recently by the Xevera Pampanga Homeowners Association (XPHA) against Pag-IBIG Fund represented by its chief executive officer Darlene Berberabe and this city’s registry of deeds.
The plaintiffs – XPHA president Jose Quiambao and 19 other Pag-IBIG members who bought house and lots at Xevera subdivisions developed by GA in Pampanga – were among those who got notices of arrears from Pag-IBIG, informing them on the foreclosure and public auction of their units.
They cited in the civil case a funding commitment agreement between Pag-IBIG and GA declaring that “if a buyer or borrower fails to pay the monthly amortization, the seller developer GA, would buy back the loan or automatically offset the same from defendant Pag-IBIG.â€
“While plaintiffs were religiously paying their respective monthly amortizations to seller developer GA in accordance with the collection servicing agreement between Pag-IBIG and GA, defendant Pag-IBIG filed a case against seller developer GA. Subsequently, seller developer GA filed a case against Pag-IBIG before the RTC Branch 58 of Makati City for specific performance with damages,†the case stated.
This 2010 case stemmed from Lee’s request to Pag-IBIG to cancel some 400 out of 1,000 accounts that were regarded as “questionable buyers†of units at the Xevera housing projects.
Lee then accused Pag-IBIG of “gross neglect of duty, inefficiency and incompetence†for its alleged failure to validate housing applicants that resulted in cases of “ghost buyers in alarming proportions.â€
The plaintiffs said this conflict led Pag-IBIG to cancel the collective servicing agreement that empowered GA to collect monthly amortizations, so they were not able to continue with their payments.
But they said that despite this development, the GA complied with the funding collective agreement that required it to pay Pag-IBIG in full the cost of the housing units whose beneficiaries were not able to continue their amortizations.
“Despite full payment made by GA through the offsetting remedy under (the funding commitment agreement), Pag-IBIG sent notice of arrears and informed the plaintiffs that their respective housing loans were already referred to the foreclosure unit (of Pag-IBIG),†the plaintiffs said.
Lee is locked up at the provincial jail here for syndicated estafa charges related to the Xevera housing case.