Category Archives: Mortgage

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

Posted in Mortgage, Mortgage Law | Tagged | Leave a comment

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

Posted in Foreclosure Sale, Land, Mortgage, Mortgage Law | Leave a comment

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

Posted in Foreclosure Sale, Land, Mortgage, Mortgage Law | Tagged | Leave a comment

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

Posted in Certificate of Title, Laches, Mortgage, Mortgage Law | Tagged | Leave a comment

A mortgage contract executed in breach of Section 18 of [PD 957] is null and void

Mortgage contract void As the HLURB Arbiter and Board of Commissioners both found, DELTA violated Section 18 of PD 957 in mortgaging the properties in Delta Homes I (including Lot 4) to the BANK without prior clearance from the HLURB. … Continue reading

Posted in Contract to Sale, HLURB, Mortgage, Obligations and Contracts, Uncategorized | Leave a comment