Foreclosure of Real Estate Mortgage in the Philippines: Extrajudicial vs. Judicial Process
What Is Foreclosure in the Philippines? Foreclosure is the legal process by which a creditor (usually a bank or lending institution) takes possession of a mortgaged property after the borrower defaults on loan payments. In the Philippines, foreclosure is governed primarily by Act No. 3135 (as amended by Act No. 4118) for extrajudicial foreclosures and […]