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Sps. Francisco and Ruby Reyes vs. BPI Family Savings Bank, Inc., et al

SPS. FRANCISCO AND RUBY REYES, Petitioners, vs. BPI FAMILY SAVINGS BANK, INC., and MAGDALENA L. LOMETILLO, in her capacity as ex-officio Provincial Sheriff for Iloilo, Respondents.

G.R. Nos. 149840-41 | 2006-03-31



SECOND DIVISION
D E C I S I O N 

CORONA, J.: 

Via this petition for review under Rule 45 of the Rules of Court, petitioners assail the decision[1] of the Court of Appeals (CA) in CA-G.R. SP Nos. 45629 and 45877 and its resolution denying their motion for reconsideration. 

The facts are simple. 

On March 24, 1995, the Reyes spouses executed a real estate mortgage on their property in Iloilo City in favor of respondent BPI Family Savings Bank, Inc. (BPI-FSB) to secure a P15,000,000 loan of Transbuilders Resources and Development Corporation (Transbuilders). The mortgage contract between petitioners and BPI-FSB provided,...