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Spouses Norman K. Certeza, Jr. et al. Vs. Philippines Savings Bank

SPOUSES NORMAN K. CERTEZA, JR. and MA. ROSANILA V. CERTEZA, AND AMADA P. VILLAMAYOR and HERMINIO VILLAMAYOR, JR., Petitioners, versus PHILIPPINE SAVINGS BANK, Respondent.

G.R. No. 190078 | 2010-03-05

R E S O L U T I O N


DEL CASTILLO, J.:

In this Petition for Review on Certiorari,[1] petitioners contend that the auction sale conducted by virtue of the extrajudicial foreclosure of the mortgage should be declared null and void for failure to comply with the two-bidder rule.

Factual Antecedents

Petitioners obtained a P1,255,000.00 loan from respondent Philippine Savings Bank (PS Bank),[2] secured by two parcels of land, with all the buildings and improvements existing thereon, covered by Transfer Certificate of Title Nos. N-208706 and N-208770.[3]

Petitioners failed to pay their outstanding obligation despite demands hence PS Bank...