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House Insurance Issues

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1 House Insurance Issues on Fri Jun 30, 2017 7:51 pm


Arresto Menor
Good day everyone. This is issue is in need of a Legal advice. Thank you in advance for your kindness.

This is the story:
My late brother took a house and lot through banking loan. Nakapagdown na po siya ng more than 120 thousand (based on our conversation). An agent of the house and lot told him na magbayad na po siya ng Insurance or what they called mortgage of purchased property. He was already cleared to that (as far as I know) kasi un po ang sinabi sa brother ko. But in the contrary, after po ng death ng kapatid ko, we went to the bank and claim for the Insurance of the house para wala na kami problema sa pagbabayad, an account's officer told us that the loan (including the Insurance) didn't proceed for approval because of lacking requirements (which is the SPA from me). But I had the email from the bank proving that the loan was approved.

They ask me to re-apply again the loan (under my name) and transfer all the payments done by my brother in the bank.

The question is: Is it true that the Insurance that is already paid is forfeited and not valid anymore?

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