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Luzon Devt. Bank vs. Sps. Bmiolome & Zenaida Angeles

LUZON DEVELOPMENT BANK, Petitioner, versus SPOUSES BARTOLOME and ZENAIDA ANGELES, Respondents.

G.R. No. 150393 | 2006-07-31

SECOND DIVISION

D E C I S I O N 

CORONA, J.: 

This is an appeal by certiorari under Rule 45 of the Rules of Court contesting the decision[1] and resolution[2] of the Court of Appeals (CA) which denied the petition for review of herein petitioner Luzon Development Bank. 

Petitioner alleged that in June 1983, respondents obtained from it a loan of P500,000 secured by a real estate mortgage on their house and lot located in North Greenhills, San Juan, Metro Manila. Due to financial reverses, respondents defaulted on their loan, prompting petitioner to extrajudicially foreclose on their mortgage. 

Petitioner averred that, in...