Pag-ibig Loan for the OFWs via Attorney-in-Fact

I am a daughter of an OFW. My mother is working abroad now for more than 12 years. Even if she works overseas she never missed paying her contributions for her future retirement like her Pag-Ibig contribution or the Home Development Mutual Fund (HDMF).

After her years of saving up she was able to purchase a lot which is big enough to construct 2 houses in. Then this year she decided to use her HDMF loan benefit.
HDMF made a way on how to serve the OFWs, even if they are across the sea. This is possible by assigning a family member of the OFW as their attorney-in-fact. And below I listed down some tips for you because I already experienced processing HDMF loan for my mother.

Few Tips:

1. Whoever is the assigned attorney-in-fact must attend the Housing Loan Counseling. This is everyday 3pm. They also have Saturdays every 8am. Before you attend have your 2 government issued IDs photocopied because they will ask for this.
During the seminar you will fill out a Membership Status Verification (MSV) to check if you have any pending loans in HDMF. If your records are good then they will provide you the list you need to submit to HDMF. So make sure you have good records.

2. Being an attorney-in-fact of an OFW, you need a Special Power of Attorney (SPA) notarized document. A locally made SPA will not be honored by HDMF. You need an SPA notarized by the assigned lawyer of the Philippine Embassy in country where the OFW is working.

3. Ask your relative to provide you the following:
- 2 government issued IDs (original, photo copies not honored)
- Copy of the latest contribution receipt
- Latest employment certificate wherein the duration of the contract is stated and
the amount of salary must be declared too
- Photocopy of birth certificate and marriage certificate (if married)

What I have mentioned above is not in the list they will provide you.

4. Photocopy each document you will submit because they will ask you to do so during submission.

5. Do not depend on their schedule always call their hotline number to check on your status. In my experience I encountered delays because I did not follow up that much.

6. Lastly, make sure you have mobilization funds because they will not approve your house construction loan if they do not see that 30% of the plan is already built. Plus the fact that you will be paying a lot of fees like notarizations, annotations, registry of deeds fees, and other unexpected fees like documentary stamps and other necessary certificates.

Good luck on your application. And if there are questions maybe I can help out based on what I have experienced. So feel free to post it in this forum.

[Rhoody]

That is fantastic to hear a success story of an OFW. I heard and know quite a lot stories where hard earned money has been going back to the Philippines to support families, but never ended up in much more than a lot of Tuba and other equivalent useful stuff.

The house was never build and the kids never went to school. After the OFW returned to the PI the family just had more utang than ever before and blamed the OFW not to have safed/worked enough.

Sad but reality...

Yup I heard sad stories too...

I hope those who read this thread should start thinking of including SSS and Pag-ibig contributions in their budget. Because in the end you'll be reaping the rewards.