Legal Question in Banking Law in Philippines
Hi, I have a housing loan with Union Bank Philippines since 2005. Just this month (Nov 2012), or after around 7 years, I am informed that our mortgaged property has not been covered with any Fire Insurance, only MRI. I am so surprised and worried about this. Is there any liability of the mortgagor in this case? I want to file a hard complaint against UB due to their negligence which could have resulted to huge financial damage from my end should something have happened. Please advise.
Asked on 11/19/12, 8:48 pm
1 Answer from Attorneys
VOLTAIRE T. DUANO
VOLTAIRE T. DUANO LAW OFFICE
Check if you paid or your were charged for the premium on this fire insurance.
Answered on 11/20/12, 9:15 am
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