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Spouses Ong vs. Roban Lending Corp.

SPOUSES WILFREDO N. ONG and EDNA SHEILA PAGUIO-ONG, Petitioners, versus ROBAN LENDING CORPORATION, Respondent.

G.R. No. 172592 | 2008-07-09

D E C I S I O N

CARPIO MORALES, J.:

On different dates from July 14, 1999 to March 20, 2000, petitioner-spouses Wilfredo N. Ong and Edna Sheila Paguio-Ong obtained several loans from Roban Lending Corporation (respondent) in the total amount of P4,000,000.00. These loans were secured by a real estate mortgage on petitioners' parcels of land located in Binauganan, Tarlac City and covered by TCT No. 297840.[1]

On February 12, 2001, petitioners and respondent executed an Amendment to Amended Real Estate Mortgage[2] consolidating their loans inclusive of charges thereon which totaled P5,916,117.50. On even date, the parties executed a Dacion...