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foreclosure of a subdivision

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1 foreclosure of a subdivision on Wed May 18, 2011 9:59 am

marisdjesus


Arresto Menor
hi. tanung ko lang po ilan months or taon yung redemption period ng isangs subdivision if it is a corporation and was mortgage to a private person and not a banking or financing instution.some say if its a corporation its just a matter of months yung redemption if its is mortgage to a financial instuition.but if it is mortgage to a non licence financial institution or a private person it's one year.pls clarify.we have an on going case.thank you.

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2 Re: foreclosure of a subdivision on Sat May 21, 2011 2:21 pm

attyLLL


moderator
if bank is mortgagee and mortgagor is a corporation, redemption period expires upon annotation certificate of the sale. if not, then redemption period expires 1 year from the annotation.


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3 Re: foreclosure of a subdivision on Thu Jun 02, 2011 11:29 pm

lynski


Arresto Menor
hi ask ko lang po planning to redeem my property next month but so shocked wd the total amount is der any law agaisnt ds? can they just charged without any basis? can i file a motion to lower the price of my property wc im going to redeem? pls. enlighten me on ds asap thnx and more power!

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4 Re: foreclosure of a subdivision on Thu Jun 02, 2011 11:53 pm

lynski


Arresto Menor
can in just pay the bid price plus d current interst of the bank where i loaned my property if so how do i go about ds and will sought the help of a lawyer be of help or worsen my case pls. help!

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5 Re: foreclosure of a subdivision on Fri Jun 03, 2011 9:20 am

lynski


Arresto Menor
pls moderator of this site can answer my queries pls?

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6 Re: foreclosure of a subdivision on Fri Jun 03, 2011 12:51 pm

attyLLL


moderator
you can negotiate for a lower redemption amount but that will depend if the other party will agree.

if you will contest the amount, you will have to file your own petition in court.


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7 Re: foreclosure of a subdivision on Sat Jun 04, 2011 10:46 pm

lynski


Arresto Menor
will it still be possible considering the date of redemption has expired alredy i was just given time to redeem.

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8 Re: foreclosure of a subdivision on Mon Jun 06, 2011 8:19 pm

attyLLL


moderator
as long as affidavit of consolidation has not yet been filed, you can still enter into an agreement.


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9 Re: foreclosure of a subdivision on Tue Jun 07, 2011 12:04 am

chanely 73


Arresto Menor
i will file in RTC were d property is located and wat will i tell my lawyer atty?motion to lower the price of redemption? will it take long atty? thnx so much for the info appreciate very much.

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10 Re: foreclosure of a subdivision on Tue Jun 07, 2011 4:38 pm

attyLLL


moderator
you have to show that the computation of the redemption price is wrong or some other ground to annul the loan.


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11 Re: foreclosure of a subdivision on Wed Jun 08, 2011 11:33 pm

chanely 73


Arresto Menor
how many months will it take atty? and wat will i tell exactly my lawyer?

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12 Re: foreclosure of a subdivision on Thu Jun 09, 2011 9:37 pm

attyLLL


moderator
years more likely. you lawyer can figure out if there is a ground in the first place. good luck.


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13 Re: foreclosure of a subdivision on Tue Jul 26, 2011 7:00 pm

chanely 73


Arresto Menor
gud pm atty just found out recently that the bank has consolidated the title already but we are stii considered the first priority for the buy back i wanna ask can we apply for another institution for a loan coz our money wc was supposed to redeem is not enough so we are planning to loan to another bank using the same property as collateral.pls/ help!

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