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Gobonsengs vs. SIHI: Mortgage Foreclosure Case by Chilzia Rojas is a document available to read on EtoBox.
1) Respondent SIHI extended credit lines totaling P2.9 million to petitioner spouses Gobonseng, secured by a real estate mortgage over their three parcels of land. 2) When the Gobonsengs failed to pay on the loans, SIHI initiated foreclosure proceedings. 3) The Gobonsengs sued to stop the foreclosure, arguing the loan terms were six years, not yet due. The Court ruled the foreclosure was premature as payments were not yet due, but could proceed if payments remained unpaid after 30 days.
- Author
- Chilzia Rojas
- Language
- EN