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Spouses Francisco Sierra (substituted by Donato, Teresita Teodora, Lorenza, Lucina, Imelda, Vilma and Milagros Sierra) and Antonina Santos, et al. Vs. PAIC Savings and Mortgage Bank

SPOUSES FRANCISCO SIERRA (substituted by DONATO, TERESITA, TEODORA, LORENZA, LUCINA, IMELDA, VILMA, and MILAGROS SIERRA) and ANTONINA SANTOS, SPOUSES ROSARIO SIERRA and EUSEBIO CALUMA LEYVA, and SPOUSES SALOME SIERRA and FELIX GATLABAYAN (substituted by BUENA VENTURA, ELPIDIO, PAULINO, CATALINA, GREGORIO, and EDGARDO GATLABAYAN, LORETO REILLO, FERMINA PEREGRINA, and NIDA HASHIMOTO), Petitioners, vs. PAIC SAVINGS AND MORTGAGE BANK, INC., Respondent,

G.R. No. 197857 | 2014-09-10

FIRST DIVISION
 
DECISION

PERLAS-BERNABE, J.:
 
Assailed in this petition for review on certiorari1 is the Decision2 dated June 27, 2011 of the Court of Appeals (CA) in CA-G.R. CV No. 91999 which reversed and set aside the Decision3 dated April 24, 2006 of the Regional Trial Court of Antipolo City, Branch 74 (RTC) in Civil Case No. 91-2153, dismissing petitioners’ complaint for declaration of nullity of real estate mortgage and extrajudicial foreclosure proceedings.

The Facts

On May 31, 1983, Goldstar Conglomerates, Inc. (GCI), represented by Guillermo Zaldaga (Zaldaga), obtained from First Summa...