BFS Panalo Max helps Bacolod residents own homes at the soonest time possible
(Sunstar Bacolod)
Borrower Leonardo Betita (left) of Bo. Handumanan, Bacolod City holds his Transfer Certificate of Title (TCT) from BFS Account Specialist Bianca Venzuela. Betita was able to own his home after availing of the BFS Panalo Max offer.
Since being launched in early 2012, BFS Panalo Max has helped thousands of Filipino families with outstanding housing loans to own their homes at the soonest time possible. Pioneer mortgage servicing company BFS has helped some 24,000 families own their homes since assuming the Balikatan portfolio of 52,000 highly delinquent accounts from the National Home Mortgage Finance Corporation (NHMFC) since 2006.
“Through the Panalo Max offering, qualified borrowers may see their penalties and up to 100% of the interests on their housing loans waived, enabling them to pay just the principal loan amount,” explains Juno Henares-Chuidian, BFS Head of Corporate Communication. “Not only do they own their homes at the soonest time possible, they also realize home equity immediately. This means that the value of a property increases as the mortgages are paid.”
One of the beneficiaries of the Panalo Max offer is Leonardo Betita of Bo. Handumanan, Bacolod City. “I have seven kids and addressing their needs posed a challenge in my mortgage payments,” Betita says. “I was able to get in touch with my account specialist, and she helped me understand the status of my account. While it was a hard decision, my family and I decided that we would pitch in to resolve our loan.”
Mr. Betita is one of thousands who have benefited from Panalo Max, the latest offering from BFS that makes settlement amounts for outstanding housing loans affordable, through the waiving of penalties and interests. In some cases, qualified borrowers may pay even less than the principal amount.
“I’m thankful for the Panalo Max offer, because I would not have been able to pay off my housing loan without it,” Betita says. “I realized the importance of paying off my debt, so that it wouldn’t be a problem for me anymore.”
The properties included in BFS’ portfolio of accounts are located throughout the Philippines. Many of the families that have fully settled their housing loans are in Metro Manila, Cavite, Bulacan, Laguna, Rizal, Pampanga, Batangas, Cebu, Bacolod, Iloilo, Davao, and Cagayan de Oro.
