BFS urges Mindanao homeowners to avail of mortgage financing options

(People’s Journal Tonight) BFS, a mortgage servicer and special asset management company, calls on homeowners from Mindanao to avail of all possible mortgage financing options to avoid foreclosure. BFS handles the Balikatan portfolio of more than 52,000 highly delinquent loan accounts from the National Home Mortgage Finance Corporation (NHMFC). It recently reached out to delinquent loan borrowers in Southern Mindanao (Compostela Valley, Davao del Norte, Davao del Sur and Davao Oriental), Northern Mindanao (Bukidnon, Lanao del Norte, Misamis Oriental), Central Mindanao (North Cotabato, South Cotabato, Sultan Kudarat), CARAGA (Agusan del Norte, Agusan del Sur, Surigao del Norte, Surigao del Sur), Western Mindanao (Basilan, Misamis Occidental, Zamboanga del Norte, Zamboanga del Sur), and the Autonomous Region in Muslim Mindanao or ARMM (Maguindanao, Sulu, and Tawi-Tawi). It was found out on this Mindanao roadshow that priorities such as payment of children’s tuition, seed money for business, and placement fees for family members with OFWs are the reasons given for delinquent payments. “What we are most concerned about is that some of...