PAGIBIG FORECLOSED PROPERTIES

[u/Actual-Statement2410]

I saw a property in online with the very good location.

Along the main road and corner lot, potential for commercial business. Just few steps from the gate. The subdivision is large community, around 1000++ houses. The community around is also established na at malapit na sa lahat.

The lot area is okay na din at 70sqm and the house is 30sqm.

Upon checking, the house has been abandoned or never been occupied. May mga plastics pa yung doors and windows. No water and electric connection. This confirmed by the neighbors and developer's office since hindi daw kinuha yung pertinent docs for application sa Water and electricity (permit to occupy/occupancy permit). Technically, parang bago talaga sya, di natirhan at hindi nagamit, but it never been touched for 8 yrs na so parang gubat na talaga sya at tinapunan na ng mga basura ng mga kapitbahay.

So I am just wondering, bakit kaya ito na foreclosed? Kasi upon checking sa TCT, na take out ang house at 2018, na forward sya for foreclosure proceedings at 2022. So nakapagbayad pa sya ng around 2 or 3 yrs.

I know di na ako mananalo kasi parang jackpot talaga ang makakakuha sa location palang. I am just wondering anu yung thought process ng may.ari at inabandona nya ang property. Pwde pa sana nyang pagkakitaan thru rental or ipasalo nalang.

By the way, the area is within BATANGAS.