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BPI vs Veloso

BPI FAMILY SAVINGS BANK, INC., Petitioner, versus SPS. JANUARIO ANTONIO VELOSO AND NATIVIDAD VELOSO, Respondents.

G.R. No. 141974 | 2004-08-09

D E C I S I O N



CORONA, J.:





Before us is a petition for review of the decision[1] dated February 14, 2000 of the Court of Appeals affirming the decision of the Regional Trial Court, Branch 94, Quezon City,[2] which upheld the validity of the extra-judicial foreclosure proceedings initiated by Family Bank and Trust Company (Family Bank) on the mortgaged properties of respondent spouses Januario Antonio Veloso and Natividad Veloso but allowed the latter to redeem the same properties.



On January 8, 1983, respondent spouses obtained a loan of P1,300,000 from petitioner's predecessor-in-interest Family Bank and Trust Company. To...