Caregiver Lady Gets A Home Owner Loan

In the midst of all the turmoil in the family - over SSS claims, over conjugal properties, over siblings bickering, over one sibling - Pitt- playing the game for both sides (Auntie Insurance and Caregiver Lady)and over a lot more issues..... Caregiver Ladyfinally moves out of her previous residence and got a new one near her current place of work.

How was she able to get a new home? Easy. She applied for a home owner loan and was approved! Though there is some skepticism there from Toklang.

Since she heard from her employers that home loans are recent craze in the loan market these days, she tried her luck. Knowing Caregiver Lady, home constitutes as the largest asset that usually adults have. While purchasing a home, she knows she needs to come up with a very huge amount of money. From her experience with the mortgages of Tatay Ruby and Auntie Insurance before, she knows that some people are likely to face problems, paying out the whole money together for the house, while some can’t even afford to invest money for the home of their choice.

With home owner loan, this surely does help her meager funds to have a home of her choice and at a fantastic location too!

Indeed, home owner loan has made the life of a lot of buyers very easy. But Caregiver Lady was extra careful when she applied for her home owner loan. She first made a thorough research of the prevailing interest rates in the market, and since she thinks she can afford it, she then went through with her home owner loan.

While going for Caregiver Lady's home owner loan, she took care of the other various aspects relating to the home loan. Before going for a home loan, she decided on the principal amount that she is going to borrow as a home loan so she would not end up paying more interest for the amount that she had borrowed unnecessarily. She also considered the interest factor associated with the home loan.
Interest is an unwanted burden that comes attached with the home loan. Interest is the extra amount that the borrowers have to pay, for taking the loan from the lender. Bearing in mind that she should take a loan which carries the lowest interest rates. For this, she made a complete research of the prevailing interest rates in the markets so that she does not get cheated by the home loan lenders.
Now that is her latest achievement and she is so happy with it!

Tinaw Searches A Real Estate Lawyer To Handle Her Properties

Tinaw reads up on cases about her current situation as lessor of the houses in her care. What better advice to compare it to but the Manila Times Online.

Dear PAO,

My family and I allowed a family friend to rent our former home in Makati in consideration of the amount of P8,000.00 a month. Because she failed to pay her rent, she now owes us more than P400,000.00. We gave her a promissory note to assess and sign. A week later, she gave us a check in the amount of P10,000.00 and she informed us that her husband tore the promissory note apart because they did not agree to pay her debt. For us, this is a sign of abuse. So we want her and her family be evicted from our property as soon as possible. How can we evict them and still have them pay the rental arrears?

XXX

Dear XXXX,

Given that you and your family friend have a contract of lease, she is bound, among others, to pay the agreed rental fee which is in the amount of P8,000.00 a month. As a rule, obligations of parties arising from a contract have the force of law between them and should be complied with in good faith (Article 1159, New Civil Code of the Philippines). Moreover, Article 1657, id, provides that, “The lessee is obliged: (1) To pay the price of the lease according to the terms stipulated: x x x” Should she fail to comply with her obligations, your family may resort to the rescission of your contract of lease and seek for indemnification for damages (Article 1659, id). We would like to stress that even if she did not sign the promissory note and that her husband tore it apart, this does not mean that she is relieved from her obligation to pay the rental fees as well as her other outstanding obligations. Your right to ask for the payment of the rental fees exists not by reason of the promissory note but by virtue of your contract of lease. Therefore, you may still impose upon her the payment of said fees with or without the promissory note.

Should your friend and her family refuse to vacate the premises, you may, in the alternative, file an action for unlawful detainer so that they may be legally ejected from your property. As provided for under the law, “The lessor may judicially eject the lessee for any of the following causes: x x x (2) Lack of payment of the price stipulated; x x x” The action must be filed within one year from the date of the last demand to vacate the leased premises on account of non-payment of rental fees (Section 1, Rule 70, Rules of Court). The same should likewise be filed before the Metropolitan Trial Court, Municipal Trial Court in Cities, or Municipal Circuit Trial Court (Section 1, A (1), 1991 Revised Rule on Summary Procedure). You may also include your petition in court the prayer for the payment of your lessees’ outstanding obligations. Despite the fact that the amount of her unpaid rentals exceed P400,000.00, the action may still be brought to said lower courts because, under the law, all cases of forcible entry and unlawful detainer are within the jurisdiction of the Metropolitan Trial Court, Municipal Trial Court in Cities, or Municipal Circuit Trial Court, irrespective of the amount of damages or unpaid rentals sought to be recovered (id).

We hope that we were able to answer your queries. Please be reminded that this advice is based solely on the facts you have narrated and our appreciation of the same. Our opinion may vary when other facts are changed or elaborated.

Write up was read from Manila Times PAO