Legal Question in Real Estate Law in Philippines

can a mortgage loan of real property be foreclosed immediately without written notice from a bank

Asked on 7/07/13, 6:29 am

1 Answer from Attorneys

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Foreclosure will take place once you failed to pay. Ordinarily the bank sends a demand letter on the non-payment of the obligations. If you ignored the demand for payment they will foreclose it.

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Answered on 7/07/13, 6:10 pm

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