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What is Novation of Obligation in Foreclosure Case about?

This document summarizes a court case between Iloilo Traders Finance Inc. and the heirs of Oscar Soriano Jr. regarding two promissory notes secured by real property mortgages. When the Sorianos defaulted, ITF moved for foreclosure, but the Sorianos filed a complaint to prevent it. The parties later entered into an amicable settlement, but the court required clarification before approving it. The parties failed to provide clarification, so the court disapproved the settlement. Years later, the Sorianos tried

Author

maximum jica

Language

EN