BFS’ Highly Discounted Offer for Balikatan Borrowers

The Diaz family was glad to receive their TCT from a BFS Account Specialist

BFS, the premier special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of Balikatan Housing since 2005. In the process, it has fulfilled the dreams of homeownership for thousands of Filipinos. 

Most Filipinos see homeownership as the realization of a dream. The same holds true for thousands of Balikatan borrowers who have defaulted on their loans for an average of at least 10 years. BFS understands the dream and goes through such lengths to make legitimate homeownership possible. “We understand that people become emotionally attached to their homes. As much as we can, depending on the case, we extend substantial discounts. Foreclosure is always a last resort and the least preferred option. But rather than see people lose their homes through foreclosure, we counsel them and help them arrive at the best settlement arrangement. Of course, the onus is always on the part of the borrower, to show sufficient proof that he or she is really in dire financial need,” says President Federico Y. Cadiz Jr.

In the last five years, BFS resolved the accounts of thousands of Balikatan borrowers by presenting workable financial settlement options. “We have given 100% principal and 100% interest condonation for many cases. These discounts are even better than the government’s. In the last five years, BFS helped many Filipinos own their homes. We have also given extra special consideration when these were warranted,” shares Cadiz.