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foreclosure

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1 foreclosure on Sun Jun 05, 2011 12:03 am

p1956ls@yahoo.com


Arresto Menor
Gud pm sir/madam

Gusto ko lang sana po ma enlightened sa word na foreclosure ng land tittle mortgage.
Kaya lang po tumagal na halos 5 years ang mortgage na ito ay hindi po religiously nakaka settle ng monthly payments. Malaki laki na din po ang naibayad sa napag sanlaan ng titulo ng lupa..but the fact na may mga times na hindi nakatupad sa obligasyon ang interest po ay padagdag ng padagdag sa origunal na amount ng obligasyon at umabot na nga po ng limang taon sa pagpipilit na makabayad pero hindi po nababawasan ang bayarin instead nag gain pa ng mas malaking halaga dahil sa interest na naipapatong sa hindi pagkakabayad religiously.

Ano po ba ang right din ng both parties po sa ganitong kaso especially ang taong nababaon na sa interest sa loob ng limang taon at pero patuloy na nagpilit na makapagbayad ng kanyang dues sa taong pinag sanlaan ng property pero until this very minute hndi pa din makaginhawa sa amount na naidagdag sa original mortgage amount ng dahil sa accumulated interest in 5 years na po,,pls, advicekung may karapatan pa ba ang nag sanla na maski paano ma diminish ang amount ng bayarin niya na halos sa dami ng interest na na accumulate in 5 years time ..nabayaran na niya ang original mortgage amount kung tutuusin sa dami na ng interest accumulated pls, advice. salamat po.

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2 Re: foreclosure on Mon Jun 06, 2011 9:18 pm

attyLLL


moderator
what is the interest rate?

is the mortgage annotated on the title? is there a mortgage agreement? does it allow extrajudical foreclosure?


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3 Re: foreclosure on Mon Jun 06, 2011 10:36 pm

p1956ls@yahoo.com


Arresto Menor
gud pm po!!

ang interest po ay 5 percent lamang dahil na din po sa may tittle naman siyang pinanghahawakan.

the fact po na sa tao lang nakasanla ang titolo at sa tiwala na din po niya.. ay walang annotation ng mortgage na naka print sa tittle accdg. to her. Eversince po na nahawakan niya ang tittle..hindi na po nasilayan ulit ang original tittle na naisanla po sa taong ito at accdg. to her nasa safe vault daw po iyon ng bangko.

Yun pong foreclosure na term ay binabanggit niya kapag hindi nakapagbigay ng kabayaran ang nagsanla in due time. kaya po para maiwasan ang foreclosure na threat ay napipilitang magbigay ng amount of penalty ang nagsanla . And this took until this present for almost five years now at malaki na po ang accumulated amount from the original mortgage amount of 100 thousand pesos way back 5 years ago eventhou nagbabawas naman po ng principal kapag makakaluwag luwag ang nagsanla but still syempre po..kailangan mag insist ang may hawak ng titulo ng corresponding penalty at interest kapag hndi naka bayad on due date. Salamat po.

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4 Re: foreclosure on Mon Jun 06, 2011 10:40 pm

p1956ls@yahoo.com


Arresto Menor
Conjugal property po ang titulo na hawak niya pero ang pumirma lamang po sa mortgage agreement ay isang party lang. may karapatan po ba ang may hawak ng titulo na i-foreclose ang mortgage tittle eventhou isang party lang ang nakapirma?.

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5 Re: foreclosure on Tue Jun 07, 2011 4:06 pm

attyLLL


moderator
you did not answer whether there is a clause regarding extrajudicial foreclosure on the loan agreement.

if that's 5% per month, that is still very high. if a petition is filed in court, it can be reduced.

the other spouse has to let it be known to the mortgagee that she did not consent to to the mortgage.


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6 Re: foreclosure on Wed Jun 08, 2011 11:25 am

p1956ls@yahoo.com


Arresto Menor
gud day atty.

meron po silang pirmadong agreement ng isang taon na pagbabayd then after a year, unable to make the settlement,nagkaron po ng renewal ng mortgage agreement ng onother year and still hndi pa din na settle although nagpipilit makabawas ng principal still hndi nga po always in due time kaya bumabalik sa original amount dahil sa accumulated penalty and interest. That was 2006 po ang first mortgage agreement and 2007-2008 ang second agreement, pero after po ng second agreement, meron man pong clause for foreclosure ,wala na pong nangyaring renewal at bsta ang sabi na lang nasa vault ng isang bank ang titulo na hawak niya.As time and years go on po , nakakabayad naman po ng monthly amortizations but times of failure to comply sa monthly payment mag accumulate na ulit ng percentage at penalty upto present na umabot na po almost 600 thou plus ang suppose na dapat bayaran pero kung tutuusin napakalaki na po ng naibayad sa taong may hawak ng titulo in 5 years time na kung i-add up na po ang monthly dues plus interest in those years. Then yun na nga po recently , threatening na ang may hawak ng titulo ng foreclosure..kaya yan po ang hinihingi ng advice kung may karapatan po ba na i-foreclose ang titulo ng may hawak nito sa ngaun eventhough walang pirma ang other party sa conjugal property na ito sa mortgage? or mas mabuti na din po na i-foreclose kung may karapatan siya maski hndi pirmado ng other party ang long time agreement na hndi na na renew since 2008, para ma desisyonan ng court kung ano ang nararapat. pls advice again . salamat po

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7 Re: foreclosure on Thu Jun 09, 2011 9:14 pm

attyLLL


moderator
after such a long time, the other spouse might be considered as having ratified the mortgage agreement especially if she knows about it. that is why i'm saying he/she has to speak up now against the mortgage agreement.

if there is no clause on extrajudicial foreclosure then it has to be foreclosed in court.

you should verify at the register of deeds if the mortgage was annotated on the title.


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8 Re: foreclosure Today at 11:31 pm

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