Description
She thought she'd found an affordable way to own a home in the Philippines. Instead, she lost around 280,000 pesos (US$4,400) and had to move out.
But Riza Villacarlos didn't give up on home ownership. She bought a repossessed property for around 1.1 million pesos (US$17,500), hoping it would finally give her family a place to call their own. The catch? Unexpected repairs, unpaid bills and mortgage repayments stretched her already tight budget. She even had to take out another loan.
Was buying a cheaper home really worth it? And what should buyers watch out for when considering repossessed properties or mortgage takeovers?
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#cnainsider #MoneyMindCNA #Philippines #HomeOwnership #Pasalo #ForeclosedProperties
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About the show: Real People, Real Money. Money Mind tells the stories behind the financial decisions shaping lives across Asia, with insights and practical takeaways to help you grow, save and spend your money better.
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