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Showing posts from February, 2024

Fully Paid Your Car Loan? Here’s How to Cancel Your Chattel Mortgage in the Philippines (2026 Guide)

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Finishing a 3- or 5-year car loan is a major win. However, many owners forget that the bank still technically has a "lien" on the vehicle until the Chattel Mortgage is officially cancelled. Without a "Clean" CR, you cannot sell the car or transfer ownership. The Step-by-Step Process: Claim your Documents from the Bank: Once your final payment is cleared, contact your bank’s loan department. They will provide a "Release of Chattel Mortgage" (or Deed of Release), the original CR, and the original Official Receipt (OR). Visit the Registry of Deeds (RD): Go to the RD branch where the mortgage was originally registered (this is usually indicated on your CR). You will need to pay a cancellation fee. They will stamp or provide an annotation that the mortgage is now cancelled. LTO Annotation Removal: Take your annotated documents from the RD to the LTO District Office where your car is registered. You will need: Original CR and OR Release of Chattel Mortgage  V...
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Pagibig Housing Loan Filing and Requirements

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Magandang Araw! I am currently working on filing a housing loan with Pagibig. I have screened shot the Pagibig website above for your reference. Sharing the processes I took as I go along, might be of help in case you decide to apply one as well. But before anything else, you should be aware what are the requirements needed to file a housing loan with Pagibig. Requirements needed 1. Title to the property to be loaned, It must be in your name. If it is in your parents' name, they must give you notarized authorization. Anyway, you can have the form from the Pagibig website. If you are going to go to their website you will be given instructions;   2. Updated tax declaration of the lot. If it is for a renovation of an existing house, you will also provide the tax declaration of the house; 3. Updated tax receipt of the house and lot; 4. House plans duly signed by a licensed civil engineer/architect, sanitary/plumbing engineer and electrical engineer; 5. Updated Bill of Materials and Spe...
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Affidavit of One and Same Person

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Magandang araw po! What if you have already submitted documents for processing at the Registry of Deeds, then they realized there is a problem in the name of one of the parties to the transaction? Exactly, this happened to me while processing a Sale with Partition. The examiner noted that the Seller's middle initial is different from his provided government issued ID. Affidavit of One and Same Person They texted me, advising that they noted some discrepancy in the name. They further stated that scenarios like this requires court hearing. However, we will just try to settle this through an affidavit, Affidavit of One and Same Person. A marriage contract and birth certificate from PSA should also be attached to the affidavit to support.  For your reference, Affidavit of One and Same Person: REPUBLIC OF THE PHILIPPINES  )                           ...
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