HUERTA ALBA RESORT, INC. vs. CA & nd SYNDICATED MANAGEMENTGROUP, INC.Septembe !, "###Private respondent instituted a civil case as mortgagee-assignee of a loanamounting to P8.5 million obtained by petitioner from Intercon. In a complaint forjudicial foreclosureofmortgageprivaterespondentsoughttheforeclosureof (4)parcels of land mortgaged by petitioner to Intercon und !esource" Inc. (#Intercon$)"%hich%asgrantedbythe&'. (n)eptember *" +,,4" privaterespondent %asdeclaredthehighest bidder duringtheauctionsaleandthe&erti-cateof )aleissued in its favor %as registered on (ctober .+" +,,4. In opposition to the /otion for Issuanceof0rit ofPossession"petitioner -leda /otionto&ompel Private!espondent to'ccept !edemption on /ay ." +,,5 "invo1ing for the very -rst time its alleged rightto redeem subject properties under to )ection 28 of !.'. 3o. 442 (5eneral 6an1ing'ct). )ection28of !.'. 3o. 442providesthat #incaseof aforeclosureof amortgageinfavor of aban1" ban1ingor credit institution" %hether judiciallyore7trajudicially" the mortgagor shall have the right" %ithin one year after the sale ofthe realestate as a result of the foreclosure of the respective mortgage" to redeemthe property.$ISSUE$ %hether petitioner had the right of redemption or e8uity of redemption oversubject properties.HELD$romthevariousdecisions" resolutionsandordersa8uo" petitionerhasbeen adjudged to have %as only the e8uityof redemption over subject properties.9he right of redemption in relation to a mortgage - understood in the sense of aprerogativeto re-ac8uiremortgaged property afterregistration ofthe foreclosuresale - e7ists only in the case of the e7trajudicial foreclosure of the mortgage. 3osuch right is recogni:ed in a judicial foreclosure e7cept only %here themortgageeis the Philippine 3ational 6an1 or a ban1 or ban1ing institution. 0here a mortgage isforeclosed e7trajudicially"'ct 4+45 grants to the mortgagor the right of redemption%ithin one (+) year from the registration of the sheri;