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1) Respondent Angelina de Leon Tan and her husband obtained a loan of 30,000 PHP from petitioners Isagani and Diosdada Castro, secured by a mortgage on their property, with interest of 5% per month. 2) When Mrs. Tan failed to repay the loan after her husband passed away, petitioners foreclosed on the property and claimed over 359,000 PHP in interest and principal. 3) The Court of Appeals found the 5% monthly interest unconscionable and reduced it to the legal 12% annual interest rate. The Supreme Court

Author

Sarah Jane Usop

Language

EN