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Hello,
I'm new in the site and i hope you can help me.
I bought a property and use that as a collateral for a home loan in the Philippines.
We bought the property from a reputable developer and i have the TCT already.
They're asking for a CADASTRAL certificate and we found out taht they don't issue the certificate anymore.
The bank agrees that if the certificate is not longer issued, they will proceed with the registration of the account but the loan will not be released until the mortgage is annotated.
What's the process to get this done?
Does it really take long to get the mortgage annotated? is there a quicker way to get it done as I need to get the house construction to begin soon. Thanks
Please advise
I'm new in the site and i hope you can help me.
I bought a property and use that as a collateral for a home loan in the Philippines.
We bought the property from a reputable developer and i have the TCT already.
They're asking for a CADASTRAL certificate and we found out taht they don't issue the certificate anymore.
The bank agrees that if the certificate is not longer issued, they will proceed with the registration of the account but the loan will not be released until the mortgage is annotated.
What's the process to get this done?
Does it really take long to get the mortgage annotated? is there a quicker way to get it done as I need to get the house construction to begin soon. Thanks
Please advise
