Category Archives: Foreclosure Sale

Foreclosure of a real estate mortgage for the whole amount of the loan when the mortgage covered only a part of it.

This case is about the foreclosure of a real estate mortgage for the whole amount of the loan when the mortgage covered only a part of it. The Facts and the Case           On August 18, 1981 Jean Veniegas Agtoto … Continue reading

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An extrajudicial foreclosure of real estate mortgage is initiated by filing a petition not with any court of justice but with the office of the sheriff of the province where the sale is to be made.

Petitioners insist that it was error for the CA to rule that the stipulated exclusive venue of Makati City is binding only on petitioners’ complaint for Annulment of Foreclosure, Sale, and Damages filed before the Regional Trial Court of Parañaque … Continue reading

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The correct redemption price payable to a mortgagee bank as purchaser of the property in a foreclosure sale

On the correct computation of the redemption price, Section 78 of Republic Act No. 337, otherwise known as the General Banking Act, governs in cases where the mortgagee is a bank.[13]  Said provision reads: SEC. 78. x x x In … Continue reading

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Who may redeem; when will redemption lapse?

The redemption period has already lapsed Sec. 27, Rule 39 of the Rules of Court states the persons who may redeem a real property sold, thus: Sec. 27. Who may redeem real property so sold. Real property sold as provided … Continue reading

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The foreclosure proceedings enjoy the presumption of regularity and that the mortgagor who alleges absence of a requisite has the burden of proving such fact.

First of all, the issue raised by Spouses Ong of whether the legal requirements for a valid foreclosure sale under Act No. 3135 has been actually followed is a question of fact that does not deserve a review by this … Continue reading

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