Latest from Filipino Times
Filipino Times
2 hours ago
- Business
- Filipino Times
How to buy a Pag-IBIG foreclosed property: A step-by-step guide
For many overseas Filipino workers (OFWs), owning a home is more than just a dream—it's a symbol of security, success, and a reward for years of sacrifice abroad. But with rising property prices in the Philippines, this dream can feel out of reach. Fortunately, there are alternative ways to acquire a home at a more affordable price. One such opportunity is through the Home Development Mutual Fund (Pag-IBIG Fund), which offers foreclosed properties at significantly lower prices. These properties, which were repossessed due to loan defaults, are made available to buyers looking for budget-friendly housing options. But before making a decision, it's essential to understand the process to ensure a smooth transaction. Here's a guide on how to purchase these properties and make the most of the opportunity: Step 1: Browse the List of Available Properties Pag-IBIG Fund regularly publishes a list of foreclosed properties available through its Online Public Auction (OPA)—a secure, fast, and convenient way to purchase properties wherever you are in the world. These listings can be accessed through the official Pag-IBIG website, organized by location and auction stage. Discounts of up to 45% are offered, making these properties more affordable than most in the market. Each listing includes details such as the property's location, lot/floor area, and minimum bid price. Property types vary—from residential lots and single-detached homes to townhouses and condominiums. Use Pag-IBIG's Property Finder tool for a more convenient search experience. Tip: If possible, inspect the property or have someone do it for you before placing a bid. Since these are sold as-is, where-is, checking the condition helps you make an informed investment. Step 2: Register for the Bidding Process To participate in the auction, you need to be a registered bidder first. Registration is free, and you can do it online. Just prepare all the required documents, including one valid ID with signature, a selfie photo showing your valid ID card, and an active mobile number, and fill out the needed information for verification. Once verified, Pag-IBIG will assign you a Buyer ID Number, which will serve as your unique identifier for all future bidding activities. Step 3: Join the Auction Auctions are now conducted online on scheduled dates, making it convenient for OFWs to participate from anywhere in the world. The highest bidder wins the property. Bid only within your financial capacity and factor in potential renovation costs. Review the bid terms and deadlines carefully to avoid disqualification. Step 4: Post-Auction Requirements If you win the bid, congratulations! You'll need to complete the following next steps: Submit the required documents for the sale to proceed. Choose your preferred payment option: Cash – full payment within one month Short-term installment – payable within 12 months Pag-IBIG housing loan – payable for up to 30 years, subject to approval Once payment is completed, Pag-IBIG will assist in processing the transfer of ownership, including the issuance of a new land title in your name. Be prepared to pay for transfer taxes, registration fees, and documentary stamp tax, which are standard in real estate transactions. Should you invest in Pag-IBIG foreclosed properties? For OFWs and anyone seeking affordable real estate, Pag-IBIG foreclosed properties present a smart investment and a cost-effective way to own property. Aside from the lower-than-market prices, Pag-IBIG offers various financing options, making it easier for Filipinos to achieve their dream of owning a home. With a bit of research and preparation, this can be your ticket to finally owning the home you've worked so hard for. Visit the official website of Pag-IBIG to learn more.
Filipino Times
2 hours ago
- Business
- Filipino Times
Why Pag-IBIG MP2 is a smart savings option for overseas Filipinos
For many overseas Filipinos, building a secure and comfortable future is a top priority. Among the many savings and investment options available, one stands out for its high returns, flexibility, and peace of mind: the Pag-IBIG Modified Pag-IBIG 2 (MP2) Savings Program. Specifically designed for voluntary savings, MP2 offers competitive, tax-free dividends, government-guaranteed security, and flexible contribution options, making it an ideal choice for Filipinos working abroad. What is Pag-IBIG MP2? The MP2 Savings Program is a voluntary savings scheme offered by the Pag-IBIG Fund. It provides higher earnings compared to the mandatory Pag-IBIG Regular Savings that members contribute to monthly. MP2 is open to all active Pag-IBIG members—including Overseas Filipino Workers (OFWs)—and even to former members, such as pensioners or retirees, who still have a source of monthly income and at least 24 months of contributions prior to retirement. With a minimum contribution of just PHP 500 per remittance, members can grow their savings over a 5-year maturity period, with the option to receive dividends annually or as a lump sum at the end of the term. Why OFWs should consider MP2? MP2 has consistently outperformed regular savings accounts. In fact, it has delivered annual dividend rates of 6% or more in past years, reaching 7.10% in 2024—far higher than what other financial institutions offer. Unlike other investments that carry risk or may lose value over time, MP2 is backed by the Philippine government, making it a safe and secure option. This level of stability is especially important for OFWs who want to ensure their hard-earned money is protected. Even better, MP2 earnings are 100% tax-free. That means you receive your dividends in full—no withholding taxes, no deductions, and no surprises. It's one of the few savings options that lets your money grow without losing a single centavo to taxes. The program is also completely voluntary, giving you full control. Whether you want to save monthly or make lump-sum contributions, MP2 lets you decide what works best for your income and goals. No fixed amounts required—save as much or as often as you want. How to join MP2 Enrolling in the MP2 Savings Program is simple. You can register online through the Pag-IBIG Fund website or visit any Pag-IBIG branch in the Philippines. Pag-IBIG has facilitated various payment channels, including online banking, accredited remittance centers, and partner banks worldwide, making it easier to contribute from abroad. For OFWs looking for a safe and high-earning way to save, the Pag-IBIG MP2 program is an excellent choice to grow your hard-earned money. It provides better returns than most savings accounts, offers flexible payment options, and is fully backed by the government—helping overseas Filipinos secure a stronger financial future. For more information about the MP2 Savings program and other services, visit Pag-IBIG's official website
Filipino Times
4 hours ago
- Entertainment
- Filipino Times
Las Damas de Rizal Doha chapter marks first anniversary with induction and gala
The Las Damas de Rizal Doha Chapter celebrated its first chartering anniversary with an induction and oath-taking ceremony on July 11, 2025, in Qatar. Members and guests gathered to honor Dr. Jose Rizal's legacy and the organization's achievements in its inaugural year. The event began with a procession and invocation led by Chapter Auditor Lady Sheila Marie Cantos, followed by the playing of the Qatari and Philippine national anthems and the Las Damas de Rizal hymn. In her message, Lady Dr. Anne Binondo, Chapter President, highlighted the importance of Rizal's ideals and women's role in preserving them. Meanwhile, a video message from Lady Lina 'Nenette' Brosas, founder and Paris Chapter President, underscored international solidarity within the Las Damas de Rizal community. Sixteen new members were inducted through a formal ritual that included an oath-taking, candle lighting, and pinning of insignia. Lady Victoria Bedon spoke on behalf of the new members, sharing their commitment to the group's mission. Service awards were given to founding members for their dedication, while Celso Collado Dahil of Haute Couture was recognized for designing the organization's new Filipiniana gown collection. The formal program ended with closing remarks from Lady Grace Moran, VP External Affairs. The celebration continued with a gala dinner and dancing, joined by the Knights of Rizal Doha Chapter, strengthening ties within the Filipino community abroad.
Filipino Times
4 hours ago
- Entertainment
- Filipino Times
Jessica Sanchez finds renewed purpose in ‘America's Got Talent' comeback
After years away from the spotlight, Filipino-American singer Jessica Sanchez is stepping back onto the national stage. The 29-year-old artist is making her return to America's Got Talent, two decades after she first appeared on its debut season as a child contestant. For Sanchez, the comeback marks more than just a return to television but a full-circle moment. 'To come back 20 years later and just with everything going on in my life, I feel like everything is God's divine timing. I feel like it couldn't have happened at a better time. It's just an amazing feeling,' Sanchez told Here in Hollywood with Yong Chavez of ABS-CBN. Sanchez rose to fame as a finalist on American Idol at 16, becoming one of the most prominent young Filipino-American voices in the U.S. music scene. Her return to AGT reflects years of personal and artistic growth, as Sanchez said she is now focused on authenticity and purpose. 'Twenty years ago when I stepped on the AGT stage, it lit a fire inside of me, and it really pushed me to do bigger things than I could imagine,' she added. Raised in a Filipino household, Sanchez fondly reflected on her early experiences singing karaoke with 'magic mics' during family gatherings. She expressed renewed enthusiasm to represent the Filipino community on the national stage. Sanchez's audition will air Tuesday, July 15, on NBC.
Filipino Times
4 hours ago
- Entertainment
- Filipino Times
Legaspi family meets cast of ‘The Fantastic Four: First Steps' in Australia
The Legaspi family had a star-studded encounter during their recent trip to Australia, where they met the main cast of the upcoming film The Fantastic Four: First Steps. In an Instagram post, Mavy Legaspi shared photos of the family with the Marvel stars during what appears to be a press tour. Mavy and his twin sister Cassy posed with Ebon Moss-Bachrach, who plays Ben Grimm/The Thing, and Joseph Quinn, who portrays Johnny Storm/Human Torch. Their parents, Carmina Villarroel and Zoren Legaspi, were also photographed with Vanessa Kirby, who plays Sue Storm/Invisible Woman, and Pedro Pascal, who takes on the role of Reed Richards/Mister Fantastic. 'So this just happened.' Mavy wrote in the caption. Set in a retro-futuristic 1960s-inspired world, The Fantastic Four: First Steps follows four astronauts who gain superpowers after a space mission, transforming into iconic Marvel heroes Mr. Fantastic, Invisible Woman, Human Torch, and The Thing. The film, directed by Matt Shakman, is scheduled for theatrical release on July 25.
