[ OCA CIRCULAR NO. 20-2004, February 10, 2004 ]

[ OCA CIRCULAR NO. 20-2004, February 10, 2004 ]

[ OCA CIRCULAR NO. 20-2004, February 10, 2004 ]

TO:

ALL EXECUTIVE JUDGES AND CLERKS OF COURT OF THE REGIONAL TRIAL COURTS

SUBJECT:

PROCEDURE IN EXTRA-JUDICIAL FORECLOSURE OF MORTGAGE

For the information and guidance of all concerned, quoted hereunder is the pertinent portion of the Court En Bane resolution dated 20 January 2004 in Administrative Matter No. 99-10-5-0 Re: Procedure in Extra Judicial Foreclosure of Mortgage, to wit

"A.M. No. 99-10-05-0 Re: Procedure in Extra-Judicial Foreclosure of Mortgages- The Court resolved upon recommendation of the Office of the Court Administrator, to DECLARE that cooperatives shall remain not exempt from the payment of filing fees for actions filed in court relative to extra- judicial foreclosure of mortgages, because the said actions are not among those contemplated under the provision of Article 62 (6), R.A. 6938.

Accordingly, the last paragraph of Section 2(c) of the resolution in AM. No. 99-10-05-0 is hereby AMENDED to read as follows:

Cooperatives, thrift banks and rural banks are not exempt from the payment of filing fees and other fees under the guidelines (AM. No. 99-0~28Q-RTC, September 29, 2998 and AM No. 99-3-93-RTC, April 20, 1999."

For strict compliance

__10 __ February 2004.

JOSE P. PEREZ

Acting Court Administrator