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What is the redemption price in case of accommodation mortgagors?

 

Accommodation mortgagors are not liable for the payment of the loan of the debtor. The liability of the accommodation mortgagors extends only up to the loan value of their mortgaged property and not to the entire loan itself. Hence, it is only just that they be allowed to redeem their mortgaged property by paying only the winning bid price thereof (plus interest thereon) at the public auction sale. (Belo v. PNB, G.R. No. 134330, Mar. 1, 2001)


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