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Mortgaged house

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1 Mortgaged house on Thu Feb 15, 2018 10:09 am

Aceus


Arresto Menor
Good day,

I am currently an OFW and currently paying a mortgage house gusto ko po sana ibenta as of now naka inhouse pa sya bale almost 6 years ko na syang hinuhulugan at ang contract nya is 15 years may mga improvements na din akong pinagawa sa bahay. The house is a commercial residencial Ang plano ko is ilipat sa banko para mas mababa yung monthly at pagtapos nun maari ko po bang ibenta yung property ko kahit hindi pa sya fully paid? ano po kaya ang settlement na pwedeng gamitin. thanks

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2 Re: Mortgaged house on Thu Feb 15, 2018 7:01 pm

attyLLL


moderator
if you are under a contract to sell, you have the right to pay the entire amount but you will have to deal with the developer in getting the proper documentation required by the bank. once it has been transferred to your name and the bank's mortgage is annotated on the title you may sell it to someone else.

Another way can be if you can get the consent of the developer to allow you to transfer to someone else willing to acquire the property. most developers allow this


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3 Re: Mortgaged house on Tue Feb 27, 2018 1:54 pm

Aceus


Arresto Menor
Thank you po attyLLL

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