Is it legally binding?

Good day Atty,
in our place where a lawyer is too often out of town and in such instance we execute a deed of mortgage, a mortgagor being in dire need of the money, i usually prepare a deed of mortgage, where all the requisites of the documents are present and complied with, but instead of having it notarized by a lawyer, i place this line " Signed in the presence of the Barangay Captain of XXX, municipality of XXX, province of XXX this xx day of xx, 2011. Is this legally binding and therefore enforceable? Does this have the same effect with the one notarized by a lawyer? Thank you very much for the help. God bless atty.

it is binding between the parties but not against anyone else.

a bgy captain is not authorized to administer oaths. he is just standing as a witness.

for a mortgage to be binding against the world, it should be notarized and annotated on the title. if the owner were to sell the property the annotation would follow. without an annotation, the purchaser in good faith is not bound by the mortgage.