This case has been cited 1 times or more.
|
2015-03-18 |
LEONEN, J. |
||||
| "Certain requisites must be established before a creditor can proceed to an extrajudicial foreclosure, namely: first, there must have been the failure to pay the loan obtained from the mortgagee-creditor; second, the loan obligation must be secured by a real estate mortgage; and third, the mortgagee-creditor has the right to foreclose the real estate mortgage either judicially or extrajudicially."[107] | |||||