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SSS List Of Foreclosed Properties As Of 18 October 2011

October 21, 2011

The Social Security System (SSS) has offered for sale to members and the general public at affordable terms 305 houses and lots with a combined worth of P198.56 million, a top official said.

SSS Officer-in-Charge Edgar Solilapsi said the agency would sell the properties at preferential rates such as five percent downpayment and ten percent discount on selling price for buyers paying in cash.

"The SSS offer is part of government efforts to reduce the housing backlog by offering its acquired properties at market cost and easy terms," he said. "Earnings will also add to the pool of funds of members."

Interested buyers aged 18 to 60 years can choose from 305 housing properties and residential lots, which are up for sale as part of a state-run housing fair program that would end on September 30, 2012.

Annual interest rates are pegged at six percent for houses and lots worth up to P500,000 and nine percent for properties worth more. Over 60 percent of the properties are in the National Capital Region and Luzon provinces.

Solilapsi said prices start at P271,000 on the houses and lots to be sold, which are foreclosed properties and assets acquired by SSS from dacion en pago or payment in kind.

"With the housing fair program, buyers can directly purchase SSS properties through negotiated sale instead of going through public bidding. The property is automatically reserved for the buyer upon downpayment," he said.

Buyers can pay within a maximum period of ten years through post-dated or managers checks. The state-run agency has sold nearly 1,300 acquired housing assets with total worth of P626.55 million over the past five years.

For inquiries, those interested can call up the SSS Asset Management Department at 920-6401 and 5124. Those in the provinces can go to the Housing and Asset Management Sections in SSS division offices all over the country.

Full details and terms at the end of the list


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