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We mortgage our house to a creditor friend

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1 We mortgage our house to a creditor friend on Mon Aug 27, 2012 3:38 pm


Arresto Menor
In mid 90's my parents mortgage our house to a creditor friend in our subdivision amounting to P110,000. They agreed to pay it in installment with interest plus we give them the title. Things go smooth because my parents are good payers every month and they go personally to the creditor's house to pay their obligation until one time, they (creditor) are not accepting our payments because they are very busy and sometimes they are not in their house to accommodate my parents. They are not entertaining our payments until the time comes that the credit went high and we cannot pay it anymore. As of today, they are claiming it as their property.

1. There is no official receipt issued every payment ( They just write it in the notebook)
2. There are sheriffs coming to claim our house.

1. Do they have the right to sheriff our house?
2. Can they claim it as their own property?

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