chattel mortgage fee

**hwitwowans** · August 7th, 2012 04:59 AM

Originally Posted by stavros

Alam mo ba kung ano talaga yung fee na ito? :D

paki-explain nga po sir

**dfopiso** · August 7th, 2012 05:20 AM

Originally Posted by jresperanza

anyone knows how to compute for this chattel mortgage fee???

sa BPI, about 3.6% ng loanable amount

**dfopiso** · August 7th, 2012 05:46 AM

Originally Posted by hwitwowans

sirs may nakapagsabi saken na pwedeng wala ng chattel mortgage fee kung hindi mo muna ipapangalan sa'yo yung car na ni-loan mo sa bangko hanggat di pa tapos ang pagbabayad mo.totoo kaya ito?at ok lang kaya ito?

Originally Posted by stavros

Alam mo ba kung ano talaga yung fee na ito? :D

From wikipedia Chattel mortgage - Wikipedia, the free encyclopedia

Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable personal property (the chattel) from the lender. The lender then secures the loan with a mortgage over the chattel. Legal ownership of the chattel is transferred to the purchaser at the time of purchase, and the mortgage is removed once the loan has been repaid

**calix0305** · August 25th, 2012 10:45 PM

afaik chattel mortgage fee is being use by banks to pay for the applications, registrations, tax, and other mandatory documents to the government.

**NightRock** · June 16th, 2013 11:26 AM

its gonna be my last payment next month.. what are the steps for clearing mortgage?? and is there anything I need to process for registration renewal for relasing mortgage?? what are the step by step procedures?

**Balikpinoy** · June 16th, 2013 11:37 AM

Originally Posted by NightRock

its gonna be my last payment next month.. what are the steps for clearing mortgage?? and is there anything I need to process for registration renewal for relasing mortgage?? what are the step by step procedures?

Contact your bank for the procedures.

**NightRock** · June 16th, 2013 12:00 PM

any idea how long does it takes? to get released?

**NightRock** · June 17th, 2013 01:51 PM

Got this from topgear Phil.. confused lang ako need pa ba talaga sa Register of Deeds

What is the procedure for the cancellation of mortgage after I've fully paid my car? -
After full payment of the auto loan, the borrower can go to BPI Family Savings Bank's head office to request for the cancellation of mortgage, and the release of the original copies of the Certificate of Registration and the Original Receipt. To secure a new (unencumbered) Certificate of Registration, the borrower needs to go to the Register of Deeds to have the encumbrance canceled. Then he/she can proceed to the LTO to surrender the old Certificate of Registration and secure a new one.

**_Qwerty_** · June 17th, 2013 01:53 PM

yes, after getting the certificate from the bank, you bring that to the Registry of Deeds to have the encumbrance cancelled.

**boybi** · June 17th, 2013 01:59 PM

Pwede mi naman ipalakad nalang sa bank mo yung pag cancel ng mortgage sa RD and pag kuha ng new CR if wala kang time or hassle for you. Syempre may babayaran kang processing fee.