PENSION FUND Social Security System (SSS) has put on sale around P200 million worth of foreclosed properties.
In a statement yesterday, SSS said it has put on sale until September 30, 2012 a total of 305 houses and residential lots.
The properties have a combined worth of P198.56 million. Prices start at P271,000.
More than 60% of the properties are located in the National Capital Region and Luzon provinces.
Properties worth P500,000 and below have a 6% annual interest rate, while those worth more than P500,000 have a 9% annual interest rate.
Buyers can pay within a maximum period of 10 years through post-dated or managers’ checks.
Preferential rates such as a 5% downpayment and a 10% discount on the selling price will be given to buyers paying cash.
“The SSS offer is part of government’s effort to reduce the housing backlog by offering its acquired properties at market cost and easy terms,” Edgar B. Solilapsi, SSS officer-in-charge, was quoted as saying in the statement.