Quote Originally Posted by jake.alamani View Post
My boss and I had signed a Deed of Sale with Assumption of Mortgage and a SPA authorizing me to carry out all necessary steps to make the deed binding against the whole world. One of the provisions of the deed is "The VENDEES shall assume paying the abovementioned mortgage beginning xxxxxxxuntil the termination thereof. The assumption shall be carried out by way of depositing the corresponding payment with the VENDOR’s pertinent bank account with RCBC; " Now, I want to change all the pertinent papers to my name i.e. LTO, chattel mortgage, etc... I read here that usually banks frown on assumption of mortgage considering the procedures that have to be undertaken, change of mortgage, etc.. Now my question is, can it be done? I know its hard but would the bank allow such assumption of mortgage? I just want to be protected din kasi although I trust my boss so much, hope you could help me with my query, thanks so much.


Hi can you send me an example of your assumption of mortgage & SPA bro? thanks bro. my email investph*yahoo.com