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Extra-Judicial Foreclosure of Mortgage

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1 Extra-Judicial Foreclosure of Mortgage on Mon Sep 04, 2017 2:55 pm

moniquejasmin


Arresto Menor
I receive a letter from Home Development Mutual Fund (PAG-IBIG) earlier today. It's an order from the regional trial court in regards to our mortgage foreclosure. The letter says:

Finding the petition to be sufficient in form and substance and the required docket fees having been paid, include this petition for raffle to Sheriffs and Publishers on (date) at (time) in the afternoon.

SO ORDERED


We stopped paying our monthly mortgage a few years ago since there was a problem with the subdivision's management/owner in regards with titles and there are lots of homeowners who stopped paying their monthly mortgages as well (if you're familiar with Xevera (Globe Asiatique) issue).

Now I'm not really sure what the letter means and I need help to understand it further.

Thank you!

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2 Re: Extra-Judicial Foreclosure of Mortgage on Tue Sep 05, 2017 6:19 pm

xtianjames


Reclusion Perpetua
it means your property has been foreclosed and will be open to be sold by pag ibig. contact pagibig and negotiate with them if you don't want to lose your property.

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3 Re: Extra-Judicial Foreclosure of Mortgage on Tue Sep 05, 2017 8:36 pm

moniquejasmin


Arresto Menor
Oh okay. Thanks a lot!

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