366 Phil. 610
"A parcel of land (Lot No. 315-A of the subdivision plan Psd-20633 being a portion of Lot 315 of the Cad. Survey of San Miguel, G. L. R. O. Cadastral Record No. 696 situated in the Municipality of San Miguel, Province of Bulacan, Island of Luzon, xx xx xx containing an area of FOUR HUNDRED SIXTY FOUR (464) SQUARE METERS, more or less and covered by Transfer Certificate of Title No. 28303, assessed at P4,180.00 as per Tax Declaration No 250."covered by Transfer Certificate of Title No. 28303 of the Registry of Deeds of Bulacan.
"x x xThereafter, the parties submitted the case for decision on the basis of their memoranda.
"1.- The late Egmidio Maglaque and Sabina Payawal were the owners of a parcel of land located in San Miguel, Province of Bulacan, the description of which appears in paragraph 2 of the amended complaint. The said parcel of land was covered by TCT No. 28303 issued by the Register of Deeds of Bulacan;
"2.- On March 19, 1974, said registered owners borrowed TWO THOUSAND PESOS (P2,000.00) from Bulacan Development Bank pursuant to a promissory note with Loan No. 3423. The promissory note stipulated that the loan shall be paid on or before March 19, 1975 and the interest shall be 12% per annum; that the first payment of P1,000.00 shall be due on March 19, 1975, and that the unpaid amortization shall bear interest at the rate of 12% per annum; that in case a litigation is resorted to the borrowers shall pay attorney's fees in addition to the legal expenses;
"3.- Present plaintiffs are the children of the spouses Egmidio Maglaque and Sabina Payawal. David Maglaque has a Special Power of Attorney to prosecute the present complaint;
"4.- The borrowers failed to pay any of the payment agreed upon in the promissory note and the real estate mortgage due to the untimely death of Sabina Payawal;
"5.- On December 22, 1977, a payment of P2,000.00 was made and accepted, which were applied as shown by the Official Receipt No. 7662-8 dated December 22, 1977;
"6.- on September 15, 1978, the Provincial Sheriff of Bulacan conducted an extra-judicial foreclosure sale of the property in question in accordance with the specific authority provided for in the Deed of Real Estate Mortgage as authorized by law. The defendant-Bank contends that the formalities provided for by law were duly observed while the plaintiff claims that there was no such compliance. Hence, this will be the subject matter of evidence in Court;
"7.- The one year period allowed by law within which the delinquent borrowers should have exercised their right to redeem expired without any redemption by them. Consequently, on March 24, 1980 the bank consolidated its title on the property and became the registered owner of said property under TCT No. T-259923 issued by the Register of Deeds of Bulacan on March 24, 1980;
"8.- In September 24, 1980, defendant-Bank sold the property to the spouses Angel S. Beltran and Erlinda Beltran in a Deed of Conditional Sale, x x x;
"9.- The Register of Deeds wrote a letter dated September 8, 1980, informing the bank about a notice of lis pendens. However, the records of the bank show that the letter was received only on November 19, 1981. On March 16, 1984, Spouses Angel Beltran and Erlinda Beltran registered an adverse claim on the property;
"10.- The plaintiffs sought the help of prominent persons to arrange the case amicably, namely, Dr. Sabino Santos, Vice-President of Planters Development Bank; Mr. Miguel Sison, Jr. of the Malacañang Assistance Center; and, Minister Blas Ople of the Ministry of Labor and Employment. However, no concrete result came out of these efforts to settle.;
"11.- The property in question is located behind the parish Church of San Miguel, Bulacan and adjacent to a Municipal Street of said municipality;"
Except for the first assigned error, the rest of the issues raised are factual, hence, not subject to review by this Court.
- The Honorable Court of Appeals erred in not finding that the Bank should have filed its claim in the settlement of estate of the deceased mortgagors.
- The Honorable Court of Appeals erred in not finding that there was no compliance as to the mandatory requirements of extra-judicial foreclosure.
- The Honorable Court of Appeals erred in not holding that the price of P4,202.70 realized from the auction sale was palpably iniquitous and unconscionable.
- The Honorable Court of Appeals erred in not finding that the appellee Bank is guilty of estoppel.
- The Honorable Court of Appeals erred in not holding that the Bank is guilty of usury.
- The Honorable Court of Appeals erred in not holding that Sps. Angel Beltran and Erlinda Beltran are buyers in bad faith.
"(l) to waive the mortgage and claim the entire debt from the estate of the mortgagor as an ordinary claim;Obviously, respondent bank availed itself of the third option.
"(2) to foreclose the mortgage judicially and prove any deficiency as an ordinary claim; and
"(3) to rely on the mortgage exclusively, foreclosing the same at anytime before it is barred by prescription, without right to file a claim for any deficiency."