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Complaint for Judicial Foreclosure of Real Estate Mortgage

September 21, 2018

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See Section 68 of Rules of Court

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Complaint for Sum of Money and Damages

Marilag vs Martinez, GR 201892 (2015, First Division) Facts: Rafael failed to file his answer and, upon petitioner's motion, was declared in default. After an ex parte presentation of petitioner's evidence, the RTC-lmus issued a Decision 9 dated January 30, 1998, (January 30, 1998 Decision) in the foreclosure case, declaring the stipulated 5% monthly interest to be usurious and reducing the same to 12% per annum (p.a.). Accordingly, it ordered Rafael to pay petitioner the amount of ₱229,200.00, consisting of the principal of ₱160,000.00 and accrued interest of ₱59,200.00 from July 30, 1992 to September 30, 1995. 10 Records do not show that this Decision had already attained finality. Meanwhile, prior to Rafael's notice of the above decision, respondent agreed to pay Rafael's obligation to petitioner which was pegged at ₱689,000.00. After making a total payment of ₱400,000.00, 11 he executed a promissory note 12 dated February 20, 1998 (subject PN...

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Complaint for Judicial Foreclosure of Real Estate Mortgage

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