My representative in the Philippines inquire for a PSBank housing loan. The staff was accommodating and tell right away an issue about the land title. There are many names in the document.
According to the staff, all the signatories should be able to sign once the loan is approved. The problem is some of the names were already deceased. Changing the land title is another work for the seller.
I guess this could be one of the reason why the seller is having a hard time to sell the house that we want to buy. And not only that, the Meralco account associated with the house has an unpaid bills. The house has many issues, so I guess it is best that our family didn't proceed on applying for a housing loan for that house.
Now we are looking for another house and would consider applying for a PSBank housing loan after a not-so-good experience with
Security Bank[url].
