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Mortgaged House and Lot

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1 Mortgaged House and Lot on Sun Jul 08, 2012 10:50 am

Stryder


Arresto Menor
We inherited a property from my parents but they were mortgaged to a rural bank somewhere in Bulacan 15 years ago. The bank closed out because of a case against its manager. (G.R. No. 159517-18) Since then we have not heard from anyone regarding the status of the foreclosure. Is there a rule of law regarding the lapse of 10 years wherein failure to foreclose it would null the foreclosure? We do not have a copy of the title as well but my mother when she was still alive already checked it at LRA and it was still under her name. We are even paying now overdue real property tax thru a compromise agreement with the City Treasurer and it was also still under my mother's name. What is the best legal advice you can give me on this please?

Thanks much,

Stryder

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