Category Archives: Mortgage Law

Foreclosure is but a necessary consequence of non-payment of mortgage indebtedness

Two. Lotto claims that the real estate mortgage that Go executed was void since it did not authorize her to execute the same and since DBS did not sign it.  But Lotto admitted in its complaint below that Go had … Continue reading

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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 rights of the first mortgage creditor or mortgagee over the mortgaged properties are superior to those of a subsequent attaching creditor and other junior mortgagees

As between Asiatrust and Bangkok Bank, the former has a better right over the subject Antipolo properties, it being the first to annotate its lien on the titles of the properties It is evidently a well-settled and elementary principle that … Continue reading

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Redemption Price for a Mortgaged and Foreclosed Properties

Section 16 of Executive Order (EO) No. 81 states that the redemption price for properties mortgaged to and foreclosed by DBP is equivalent to the remaining balance of the loan.  Section 16 states that, “Any mortgagor of the Bank whose … Continue reading

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