A court has ordered banks to return property deeds that were illegally mortgaged by the developer of the Hiep Binh Phuoc Residential Project in Thu Duc City, allowing residents to obtain their property ownership certificates.
At least 4 banks are allegedly implicated in accepting 115 land plots as mortgage collateral from a developer for loans exceeding 200 billion VND, despite the properties belonging to residents.
After nearly 20 years of stable living, hundreds of residents in the Hiep Binh Chanh Residential Area remain anxious after discovering their purchased land has been mortgaged by the developer.
