Section 6October 13, 2008, Sec./Art. 6

Remedies Against Delinquent Accounts. - Without prejudice to the resort to foreclosure as provided for by law or contract in proper cases, the GFIs and housing agencies shall continue to exercise their right to foreclose properties covered by accounts excluded in subparagraphs (a) through (e) under Section 5 hereof or of delinquent accounts of borrowers who shall fail to avail of the benefits under this Act and that such foreclosure proceedings shall be exempt from publication in newspapers: Provided, that posting of the date and place of auction shall be made in at least three (3) conspicuous public places similar to that provided for under Act 3135 as amended, otherwise known as An Act To Regulate The Sale of Property Under Special Powers Inserted In Or Annexed To Real-Estate Mortgages: Provided, further, That notice to the borrower at his/her last known address shall likewise be made: Provided, finally, That the foreclosure proceedings mentioned above should be observed in the event that the borrower avails of the benefits of this Act but subsequently defaults under the loan restructuring and condonation program.