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Levy process

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1 Levy process on Mon Sep 13, 2010 12:32 pm


Arresto Menor
Mga MODS, ATTY, Masters help po.

Yung mom ko kasi po Nagloan siya sa isang lending company way back 90's. Amounting to 450,000 payable for 5 years. 10,000 monthly, ang kaso po
hindi po siya nababayaran ng mom ko ng sapat minsan po nakakapag bigay cia minsan din po hinde.
nakarecieve po kami ng sulat na may utang po kami amounting to 254,000 at last week po nagpunta po ung sheriff dito sa bahay ng tita ko(nakikitira po kami ngaun sa mga tita ko). ilelevy na daw po ung bahay namin. pinirmahan din po ng mom ko ung papel na dala ng sheriff.

**Yung bahay po namin na ginawa ng mom ko as collateral ay worth 3 million. pero ngaun po nakikitira po kami sa tita ko. ung bahay po namin pinapaupahan namin. may pagasa pa po ba na mawin back namin ung bahay. wala po kami gnun kalaki na halga para mabayaran agad ung lending company.


1. mahahabol pa ba po namin ung lupa namin? nasa
kanila po ung title?

2. Hindi po aware ung papa ko na ginawa ng mom ko
na collateral ung lupa, na acquire po nila un after marriage, pero sa pangalan lang ng mom ko.
counted po ba un as conjugal property?

3. nasa bahay po kasi kami ng tita ko, kukuha po ba sila ng gamit dito? o kukunin po nila ung bahay namin na naka collateral?

4. may makukuha pa po ba kami na sum of money o sukli? since ung utang namin sa lending company since mataas ung value ng lupa namin?

Maraming maraming salamat po. More Power!

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2 Re: Levy process on Mon Sep 13, 2010 12:59 pm


is there a written loan agreement and a mortgage over the property? is the mortgage annotated on the title? you can check at the registry of deeds.

i believe what is happening is that the mortgage is being extra-judicially foreclosed. you should go to the sheriff's office to check the petition filed by the lending company.

an auction will be conducted. if no one bids for the property, then normally the lending company will bid in the amount of the loan. if someone bids, whatever excess of the loan will be given to the owner.

you will have one year from annotation of the sale on the title to redeem the property by reimbursing the winning the bid amount.

it is possible to question the validity of the mortgage either as to the entire property or the half that is owned by your father. the presumption is that property acquired during the marriage are conjugal.

you will have to file a judicial petition to annul the mortgage. good luck.

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