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Sycamore Ventures Corporation and Spouses Simon Paz and Leng Leng Paz vs. Metropolitan Bank

SYCAMORE VENTURES CORPORATION AND SPOUSES SIMON D. PAZ AND LENG LENG PAZ, PETITIONERS, VS. METROPOLITAN BANK AND TRUST COMPANY, RESPONDENT.

G.R. No. 173183 | 2013-11-18

SECOND DIVISION
 
D E C I S I O N

BRION, J.:

We are once more faced by a petition filed by debtors who could not pay their indebtedness and who, at the point of foreclosure, sought judicial recourse to delay the inevitable.  In this case, the issue used as anchor is the valuation of the mortgage property’s appraised value – an issue that hardly carries any significant consequence in extrajudicial foreclosure proceedings. How the delay in the foreclosure has affected the parties is a matter that is not in the record before us, but delay, if it had been the objective sought, came as it has come in many other similar cases....