Good News to all our buyers, MyCitiHomes recently launched its 1st ever Amnesty Program this month of May 2015. The promo aims to help buyers realize their dream home and save as much as 50% off computed penalties. Avail of the Promo Now !!!
Promo Period: May 15 to July 15, 2015 only.
- This promo is applicable to In-house accounts of all Projects.
- Only delinquent buyers that are qualified for Cash Surrender Value under the Maceda Law, i.e. those that have paid more than 24 months’ MAs, may avail of this Penalty Amnesty Promo.
- All buyers whose accounts default within the first two (2) years of his/her monthly amortizations shall be automatically cancelled and demanded to vacate their units.
- Buyers who are delinquent and/or are for cancellation, but wish to save their account, may request to waive Fifty Percent (50%) of the computed penalties. This request must be made in writing to C&C before the Demand to Vacate is served.
- Buyers who avail of this promo must pay their entire arrears on a one-time basis within Fifteen (15) days from written approval by C&C of his / her request.
- For account who will avail of the promo, the buyer must issue a new cycle of 24 post dated checks for MA, and 2 PDCs each for MRI, FI, and RPT.
- The buyer should submit their latest proof of income upon updating of their account to prove that they have the capacity to pay the remaining balance.
- Buyers who avail of the promo must execute a Compromise Agreement, and co-signed by the Company’s legal counsel, to authorize the Company to automatically cancel the account and demand the buyer to vacate the unit if any one of his future payments falls delinquent.
- If the buyer updates their account and 24 replenishment PDCs are within range of the last expected 1-2 year PDC replenishment cycle, C&C shall collect the remaining MA, MRI, FI, and RPT PDCs to fully pay the account, and have the buyer pre-sign his/her Deed of Sale.
- Buyers who were originally on cash-payment basis over the counter shall be required to open checking accounts, at the discretionary bank of C&C.
- This promo may be availed only once throughout the entire term of the account.