Pursuant  to  the  approval  of  the  Senior  Management  Committee,  the following Amendments to the Guidelines on the Group Sale of Pag-IBIG Fund Real and Other Properties Acquired (ROPA) are hereby issued:

1. Discount in the Group Sale of Pag-IBIG Fund ROPA

Regardless  of  the  mode  of  payment,  the  Fund  shall  grant  a  discount depending on the gross selling price of the subject properties:

Gross Selling Pri ce	Discount Rate
P 10 M to P50M	40%
Mo re t han P50M to P100M	42%
Mo re t han P100M	45%

In case the group has subsequent set of buyers of Pag-IBIG Fund ROPA under Group Sale for the same calendar year, the applicable discount shall be based on the cumulative gross selling price of the aggregate properties for the year. Said discount shall likewise be applicable to previously taken out accounts for the same period. Any excess payment upon the application of the said discount shall be considered as principal payment to the buyer's housing obligation.

2.    Modes of Payment for Long-Term Installment

The selling price shall be paid in equal monthly installments through salary deduction  or  post-dated  checks  throughout  the  approved  term.  The monthly installment shall commence a month after the execution of the Deed of Conditional Sale (DCS), and every month thereafter until full settlement of the obligation.

The foregoing provisions shall repeal Item Nos. IV.4 and IV.6.1 of Pag-IBIG Fund Circular No. 395, or the Guidelines on the Group Sale of the Pag-IBIG Fund Real and Other Properties Acquired. All other terms and conditions of the said Circular that are consistent with the above provisions shall continue to be in full force and effect.

This Circular takes effect after fifteen (15) calendar days following the completion of its publication in the Official Gazette or in a newspaper of general circulation.