STATEMENT OF ACCOUNT

The Statement of Account (SOA) is sent on a quarterly basis together with your Official Receipts (OR) on payments made. Should you wish to get an advanced copy of your SOA, a Request Letter/Email must be submitted to our Customer Care Department. Your SOA will be available for release at the Customer Care Help Desk after seven (7) Working Days.

The Principal Buyer or his/her Authorized Representative is the only one allowed to request and to receive the SOA. 

The following must be presented in receiving the SOA:

for Principal Buyers

for Authorized Representatives,

OFFICIAL RECEIPTS

The Official Receipts (ORs) shall be sent through an accredited courier on a quarterly basis. Should you wish to claim in advance your ORs, a Request Letter/ Email must be submitted to our Customer Care Department or you may accomplish a request form available at the Window 3 of our Payments and Collections Area.

The Principal Buyer or his/her Authorized Representative is the only one allowed to request and to receive the ORs. 

The following must be presented when receiving the OR:

for Principal Buyers,

for Authorized Representatives,

You will be contacted by the Customer Care Department for the releasing schedule/update of your OR. You may opt to have it mailed to you or you may pick it up at the DMCI Homes Corporate Head Office, Customer Care Department. Releasing of ORs is every Friday, 8:00am to 5:00pm only.

HOLDING OF CHECKS

To Request for Hold Deposit or Payment of your check, a Request Letter/Email must be submitted to the Customer Care Department at least fifteen (15) banking days before the check’s due date. Your request will be endorsed to Treasury Department for verification.

After approval and verification of the Treasury Department, you will be advised to pay a holding fee of Php2,000.00 per check. Only cash payments will be accommodated.

Only the Principal Buyer or his/her Authorized Representative (with Authorization Letter) is allowed to request for holding of deposits/payment.

PULL-OUT AND REPLACEMENT OF CHECKS

If there had been at least two instances of returned checks due to insufficient funds, stopped payment order or closed accounts, you may request for replacement of your check by directly coordinating with the Customer Care Department for an account update.

Once replacement checks have been submitted, the old checks will be made available for release after the following the number of days upon verification of the Treasury Department: 

  1. Seven (7) banking days if the check is available at the Treasury Department
  2. Fifteen (15) banking days if check is in warehoused banks

The Principal Buyer or his/her authorized representative (with Authorization Letter and 2 valid Government issued IDs with claim stub provided during request of pulling out the check/s) is the only one allowed to request pull-out or replacement of check.

Note: Pull-out and replacement of checks may also pertain to a change of bank account, change of payment term, replacement of lumpsum/guaranty check, conversion to bank financing, and paying in full. Same number of days shall be applied in releasing the old checks under these circumstances. 

PENALTIES

The following are the penalties imposed on late or non-payment of monthly amortizations: 

DAYS PAST DUE PENALTY RATE 
1 – 30 3% 
31 – 60 6% 
61 – 90 9%
91 – 120 12%
121 – 150 15% 
151 – 180 18% 
181 – 210 21% 
211 – 240 24% 
241 – 270 27% 
271 – 300 30% 
301 – 330 33% 
331 – 365 36% 
365 and Over 36% + penalty rate of the number in excess of 365 days 

LOAN RESTRUCTURING

The following are the types of Loan Restructuring and the conditions to qualify:

  1. Request to extend the payment term up to ten (10) years less the number of months utilized from the original payment term, provided that the Principal Buyer is below 65 years old at the end of the restructured term. Please take note that you are allowed of only two (2) loan restructurings during the entire term
  2. Request to shorten the payment term
  3. Request to pay-off the balance thru cash or bank financing
  4. Request to make additional or advance cash payments, which may result to re-computation of monthly amortization
  5. Conversion of financing scheme (Direct-BF to In-house; Direct-BF to Cash; Cash to BF)
  6. Deductible cost
  7. Upgrading / downgrading of down payment
  8. Recapitalization – The Company may allow capitalization of penalty and interest but collects 20% of the total arrears and penalty as initial payment. The balance will be capitalized and restructured based on the approved payment term request. Recapitalization is allowed only once during the entire term. 

To request for Loan Restructuring, an original copy of a request letter or email must be submitted to the Customer Care Department. Your request will be endorsed to the Remedial Department for verification and approval. After verification and approval, you will be advised to pay a restructuring fee depending on the type of request. 

  1. Php 7,500.00 if request is to extend the payment term or recapitalization of penalty and interest and conversion from Direct-BF to In-house, limited to two restructuring computations only.
  2. Requests to shorten the term to fully pay the balance, to make advance cash payments, and to convert from In-house Financing to Bank Financing are not subject to restructuring fee.

An updated computation sheet of the restructured loan stating the new monthly amortization, payment due dates and required cash outlay will be given to you for conformity. The computation sheet is released within five (5) working days from date of receipt of the Request for Loan restructuring by the Remedial Department. You need to sign the computation sheet within the validity period only as indicated in the computation sheet.

You will be required to issue a new set of post-dated checks (PDCs) based on the conformed computation sheet. *Validity of the computation sheet is only: 

  1. Five (5) days from date of receipt (for bank financing)
  2. Five (5) days from date of receipt (for transfer of unit)
  3. Fifteen (15) days from date of receipt (for other restructuring requests)
  4. Sixty (60) days from date of receipt (for International Accounts) 

Checks maturing within thirty (30) days from date of request must be funded by the client as these will still be deposited and assumed cleared in the computation.

To request pull-out of your old checks, a request letter or email must be submitted to the Customer Care Department. Your checks will be available for release after the following number of days upon verification and approval of Treasury Department: 

  1. Seven (7) working days if the check is available at the Treasury Department 
  2. Sixty (60) banking days if check is in warehoused banks.

DISCLAIMER: Subject to change without prior notice

CANCELLATION OF ACCOUNTS DUE TO DEFAULT OR NON-PAYMENT OF MONTHLY AMORTIZATION

If the client fails to pay the monthly amortization of the unit / parking space purchased, the Credit and Collection Department issues a demand letter to the client. If the account remains unsettled after the deadline stated in the demand letter, it will be endorsed to the Legal Department. Legal will then issue the Notice of Cancellation for actual cancellation of the account.

Below are the guidelines for default accounts: 

Accounts with Demand Letter issued Client may be allowed to restructure and update account during the grace period.
Accounts endorsed to the Legal Department Maceda Law is applied.
Accounts cancelled by the Legal Department No reinstatement
Client may be allowed to purchase again (new sale) after 
one year from cancellation.

CLIENT INITIATED BACK-OUT

To request cancellation of purchased unit or back-out from your purchase, a notarized cancellation letter must be submitted to the Customer Care Department. Your request will be endorsed to the Remedial Department for verification and approval. All payments made will be forfeited if the account is not covered by Republic Act No. 6552 or “Maceda Law”, less applicable deductions. 


REPUBLIC ACT NO. 6552 OR “MACEDA LAW”

The “Maceda Law” is a public policy that protects buyers of real estate on installment payments. It is only applicable to accounts defaulting in their payments and does not cover those who surrender their units because of other reasons. “Maceda Law” provides the buyer with a right to a refund if installment payments or monthly amortization was paid for at least two (2) years. 


To request pull-out of your checks, a request letter or email must be submitted to Customer Care Department. Your checks will be available for release after the following number of days upon verification and approval of the Treasury Department: 

  1. Seven (7) banking days if check is on hand of Treasury Department.
  2. Fifteen (15) banking days if check is in warehoused banks.