Question:

I just would like to clarify as to who would hold the mortgage for your in-house financing for your various listings?


Eden says:

It depends on the property status.

- There are properties that I already paid cash and offer in-house financing
- For properties bought terms (either mortgage/CTS), contract is still in my name while buyer pays in-house financing. We sign a CTS for this case.
- Some buyers opt to pay through bank financing/pag-ibig where property will be taken out from the bank (or institution where property was bought) and transferred to their name under an approved loan by bank/pag-ibig and the loan is annotated to the title




Question:

I am asking because you offer in-house financing for as long as 15 years. How will we be protected as buyers in case something happens to the mortgagor?


Eden says:

I have a property exactly like this case. There is a clause in the contract that in case something happens to me (mortgagor), the contract is still valid and taken over by a successor (immediate family member or another person assigned.) This protects the buyer in the eventuality you mentioned above.