United Army Posted October 16, 2011 Posted October 16, 2011 What happens if a foreigner who has a mortgage on a house and is married all of a sudden picks up and leaves the Philippines? Besides losing his investment in his house and having a wife that is going to be pissed at him, what else can happen to the foreigner? This question was asked to me by a stranger I met at SM mall the other day, he seems to be down on his luck. I wont post what country he is from etc., but I have his cell number and will text him later. He also asked me for some money, which I refused to give him.. Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted October 16, 2011 Posted October 16, 2011 My guess is nothing.He can go back home and get a divorce in his own country and is free. Are you sure he is genuine since he asked for money? Link to comment Share on other sites More sharing options...
Art2ro Posted October 16, 2011 Posted October 16, 2011 (edited) It all depends on Philippines international law and whatever jurisdiction agreements they have with other foreign countries concerning whatever the case may be. I'm just guessing, but there may be such a law between countries. Here's a lengthy read concerning multiple international jurisdiction: https://typo3.univie...iction_epil.pdf Edited October 16, 2011 by Art2ro Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted October 16, 2011 Posted October 16, 2011 As a foreigner cannot own land, he cannot 'mortgage' it. There must be more to the story. Perhaps the wife mortgaged it and he cosigned? In which case nothing would happen unless he came back here. (Where there may be a civil suit for money owing). To the best of my knowledge bill collectors cannot follow you from country to country. If they could there would be a lot of people in trouble. There is always a possibility of being blacklisted from re-entry. That seems to be a grey area that may or may not apply. Link to comment Share on other sites More sharing options...
stevensan Posted October 17, 2011 Posted October 17, 2011 As a foreigner cannot own land, he cannot 'mortgage' it. Well, that's what I thought as well, although my name is clearly on the name of ALL our documents as the principal borrower of the house me and my Filipina wife bought, with her as the cosigner. I even went and quizzed the bank manager over this and they confirmed, that as I had the income they had designated me as the principal on the loan, and not my wife.I do wonder how the legalities would work if i simply stopped paying and if they would be able to foreclose seeing as its not actually my name on the title! With regards to the actual question, pretty sure he could skip town and no one would come after him. Doubt Philippine banks are going to come after a foreigner for a loan which they don't even own the collateral on. Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted October 17, 2011 Posted October 17, 2011 As a foreigner cannot own land, he cannot 'mortgage' it. Well, that's what I thought as well, although my name is clearly on the name of ALL our documents as the principal borrower of the house me and my Filipina wife bought, with her as the cosigner. I even went and quizzed the bank manager over this and they confirmed, that as I had the income they had designated me as the principal on the loan, and not my wife. I do wonder how the legalities would work if i simply stopped paying and if they would be able to foreclose seeing as its not actually my name on the title! With regards to the actual question, pretty sure he could skip town and no one would come after him. Doubt Philippine banks are going to come after a foreigner for a loan which they don't even own the collateral on.There is a strong possibility that the bank can foreclose even though the house is not yours. Under the Philippines Family Code, a husband and wife for financial purposes, are considered as 1 entity. That is why a foreigner can not lease property from his or her spouse for according to the aforementioned code, it would be the same as leasing to yourself. Link to comment Share on other sites More sharing options...
stevensan Posted October 17, 2011 Posted October 17, 2011 I did not know that Steve! That makes perfect sense though, and explains why they would put me as the principal and not my wife. It does at least mean the Life insurance cover provided by the bank covers me so in the event something happens to me, at least she won't have to worry about paying off the house. Link to comment Share on other sites More sharing options...
joeatmanila Posted October 18, 2011 Posted October 18, 2011 A foreigner cannot own land therefore cannot mortgage it. Has anyone of us tried to buy land under his name? Did anyone stopped the transaction just because he was a foreigner? I DOUBT IT!!!! If he finance it from a bank then the bank insures it just in case the kano dies it gets paid off.If he just fly away then it means the payments do not get paid and the financer gets the property.In case the kano can produce all the legal death certificates in his country authenticated etc in small words fake his own death, then the property gets paid by the bank, the wife or filipino kids get it.They did that say at manila, they sell the property and move to Davao, the kano returns after a year or so...everyone lives happy until a relative who knows about it nails them to the authorities and get them locked up in jail.It worths the scam if the amount is right.The immigration will have no idea that he is declared dead in his own country, since the death is fake he can always renew his passport or even change name. left as John Smith who passed over to the corrupted heaven, returns as George New and ready for his next "assigment" hahahahahaha!!!!!! 1 Link to comment Share on other sites More sharing options...
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