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Isidro Perez vs. Court of Appeals 464 SCRA 89

ISIDRO PEREZ and NARCISO A. RAGUA, Petitioners, versus HON. COURT OF APPEALS, HON. VIVENCIO S. BACLIG and SPOUSES GAUDENCIO DIGOS, JR. and RHODORA DIGOS, Respondents.

G.R. No. 157616 | 2005-07-22

SECOND DIVISION
 
D E C I S I O N 
 
CALLEJO, SR., J.: 
 
The spouses Gaudencio Digos, Jr. and Rhodora Digos secured a loan of P5,800,000.00 from the International Exchange Bank in December 1996, to finance their project for the construction of townhouses on their property covered by Transfer Certificate of Title (TCT) No. 168790 located in Tandang Sora, Quezon City. To secure the payment of the loan, the spouses Digos executed a Real Estate Mortgage over the said property. However, the completion of their project was delayed, partly because some homeowners in the Pillarville Subdivision (which abutted the subject...