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Spouses Rabat vs. Philippine National Bank (PNB)

SPOUSES FRANCISCO and MERCED RABAT, Petitioners, vs. PHILIPPINE NATIONAL BANK, Respondent.

G.R. No. 158755 | 2012-06-18

FIRST DIVISION
D E C I S I O N
         
 
BERSAMIN, J.:
 
The inadequacy of the bid price in an extrajudicial foreclosure sale of mortgaged properties will not per se invalidate the sale. Additionally, the foreclosing mortgagee is not precluded from recovering the deficiency should the proceeds of the sale be insufficient to cover the entire debt.
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