By Dominic I. Sanchez
ZAMBOANGA CITY –
Foreclosed properties and acquired assets with the Home Development Mutual Fund
(Pag-IBIG) will be publicly auctioned to the public on June 11, this
year at the Western Mindanao State University gymnasium.
According to Acquired Asset Management chief Mary Joanne
Ibalio-Reyes, properties that will be auctioned include those in the city, as
well as from Basilan, Sulu, Tawi-Tawi and Dipolog City.
“Each minimum bid will not be lower than the appraised
value,” Reyes said. She added that each bid should be accompanied by a bidder’s
bond of 10% of the value, either in cash or in a manager’s check.
Pag-IBIG organized the public bidding as the number of foreclosed
properties has been rapidly increasing. In Zamboanga and Dipolog City, 102
properties are up for auction; Tawi-Tawi has 75 and Sulu has 206.
Pag-IBIG should at least dispose of 265 assets as stated
in their 2015 Annual Disposal Target.
Meanwhile, Reyes urged Pag-IBIG members to promptly pay
their contributions and loans. “Failure to do so may result to foreclosure and
(the property) will eventually be sold to interested bidders,” she added.