Best Mortgage Lawyers in Cebu City

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Recososa Law Firm

Recososa Law Firm

Cebu City, Philippines

Founded in 2020
11 people in their team
English
Tagalog
All Specialization Law Firm & Notary Public located at the heart of Cebu City In IT Park Lahug. From Commercial Law, Labor Law, Immigration Law, Criminal Law such as Estafa, Cybercrime like Cyberlibel, Defamation, Fraud, Criminal Prosecution, Civil Law, Land Dispute, Land Registration,...
Accralaw Tower

Accralaw Tower

Cebu City, Philippines

Founded in 1972
50 people in their team
Tagalog
English
ACCRALAW was founded in 1972, out of the shared vision of its five founding partners to establish an institutional law firm based on the highest standards of legal competence.The Firm was initially conceived by Edgardo J. Angara † and Manuel G. Abello †, who had known each other since their...
Lepiten and Bojos Law Offices

Lepiten and Bojos Law Offices

Cebu City, Philippines

English
A professional law firm offering expert legal services.
CCTDA Law

CCTDA Law

Cebu City, Philippines

Founded in 2001
English
Established in 2001, Calderon Castillo Tampon Demano & Apolinario (CCTDA Law) is a full-service law firm based in Cebu City, Philippines. With over two decades of experience, the firm has built a reputation for providing comprehensive legal services to a diverse clientele, including start-ups,...
CDIT Law Offices

CDIT Law Offices

Cebu City, Philippines

Founded in 2020
English
KVP Cabahug; Amigo- Escobar & Partners Law

KVP Cabahug; Amigo- Escobar & Partners Law

Cebu City, Philippines

English
KVP Cabahug; Amigo-Escobar & Partners Law is a distinguished law firm based in the Philippines, renowned for its comprehensive legal services and commitment to excellence. The firm specializes in property and estate law, business and corporate law, as well as civil and criminal litigation. With a...
Gulapa Law

Gulapa Law

Cebu City, Philippines

Founded in 2015
50 people in their team
Tagalog
English
Gulapa & LimGulapa Law was established in September 2015. It became the first Philippine law firm to establish an office both in New York in 2017 and in San Francisco in 2018. The Firm also established an office in Cebu City in 2020. In 2022, Gulapa Law will establish an office in the emerging...
Cedeño Law Office

Cedeño Law Office

Cebu City, Philippines

English
Cedeño Law Office is a premier legal practice in the Philippines, offering a comprehensive suite of services tailored to meet the diverse needs of its clientele. The firm's expertise encompasses company formation and incorporation, property and real estate transactions, visa and immigration...
OBO Law

OBO Law

Cebu City, Philippines

Founded in 2022
6 people in their team
English
Chinese
Tagalog
Ong Booc Ong & Associates Law Offices & Notary Public (OBO Law) – Excellence in Legal Services in Cebu City, PhilippinesAt OBO Law, we pride ourselves on our commitment to delivering comprehensive legal solutions tailored to meet the unique needs of each client. Located in the heart of...
HYG Law Office & Notary Public

HYG Law Office & Notary Public

15 minutes Free Consultation
Cebu City, Philippines

Founded in 2023
7 people in their team
English
HYG Law Office & Notary Public is a distinguished legal institution situated in the heart of Cebu City, offering a comprehensive array of legal services that transcend mere representation. Founded on the principles of integrity, expertise, and client-centeredness, we stand as a beacon of...
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About Mortgage Law in Cebu City, Philippines

Mortgage law in Cebu City, Philippines governs the legal aspects of borrowing money to purchase or refinance real estate property. It involves the transfer of interest in a property to a lender as security for a loan, with the understanding that the property will be returned once the loan is repaid.

Why You May Need a Lawyer

There are several situations where seeking legal help from a lawyer specializing in mortgage law is recommended:

  • Entering into a mortgage agreement
  • Reviewing loan documents and contracts
  • Resolving disputes with lenders or borrowers
  • Foreclosure concerns
  • Dealing with issues related to property title and ownership
  • Negotiating loan modifications or refinancing

Local Laws Overview

When it comes to mortgage law in Cebu City, Philippines, it is important to understand some key aspects:

  • The Civil Code of the Philippines governs mortgage agreements.
  • It is crucial to register the mortgage with the Registry of Deeds to protect the interests of both the lender and the borrower.
  • Interest rates, penalties, and foreclosure procedures are regulated by the Bangko Sentral ng Pilipinas (BSP) and the Housing and Land Use Regulatory Board (HLURB).
  • In case of default, lenders must follow legal procedures outlined in the Civil Code to initiate foreclosure.

Frequently Asked Questions

1. Can I get a mortgage even if I have bad credit?

Yes, it is possible to get a mortgage with bad credit. However, lenders may impose higher interest rates or ask for additional collateral to mitigate the risk.

2. What are the consequences of defaulting on a mortgage?

If you default on your mortgage, the lender has the right to initiate foreclosure proceedings, which may result in the sale of the property. It can also negatively impact your credit score and make it challenging to obtain future loans.

3. What is mortgage insurance, and do I need it?

Mortgage insurance protects the lender in case the borrower defaults on the loan. It is usually required when the down payment is less than 20% of the property value.

4. Can I pay off my mortgage early?

Yes, it is possible to pay off your mortgage early. However, some lenders may charge prepayment penalties. It is important to review your loan agreement or consult with a lawyer to understand the terms.

5. What are the costs associated with getting a mortgage?

Getting a mortgage involves various costs, such as loan origination fees, appraisal fees, title search fees, attorney fees, and closing costs. It is advisable to review all the expenses with your lender and seek clarification on any additional charges.

Additional Resources

If you require further assistance or information regarding mortgages in Cebu City, Philippines, consider reaching out to the following resources:

  • Philippine Association of Real Estate Boards (PAREB)
  • Securities and Exchange Commission (SEC)
  • Bangko Sentral ng Pilipinas (BSP)

Next Steps

If you find yourself in need of legal assistance regarding mortgage matters in Cebu City, Philippines, consider taking the following steps:

  • Research and identify lawyers with expertise in mortgage law.
  • Consult with the identified lawyers to discuss your specific situation.
  • Provide necessary documents and information to the lawyer for a thorough evaluation.
  • Follow the lawyer's guidance and recommendations to protect your interests.
Lawzana helps you find the best lawyers and law firms in Cebu City through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Cebu City, Philippines—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.