BFS issues reminders to delinquent Mindanao Balikatan account holders

(Philippine Daily Inquirer)

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 has 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 of Muslim Mindanao or ARMM (Maguindanao, Sulu and Tawi-Tawi).

Delinquencies were usually a result of missed payments because of other expense priorities such as payment of children’s tuition fees, seed money for business, and placement fees for family members with OFW’s.

“What we are most concerned is that some of them said they do not know where the amortization should be paid, which redounds to lack of borrower education. We urge the borrowers to take advantage of the various remedies we offer help get them out of problematic situations,” says Federico Cadiz, BFS president.

“We hope that more borrowers would avail of the easy payment arrangements that are not only economical but secure,” adds Cadiz.

The BFS offices are located in Makati, Alabang and Davao. Contact BFS on 756-6230 or 750-3888 (Makati), (082) 221-0809 (Davao), or PLDT toll-free outside of Metro Manila and Davao through 1-800-10-2255-BFS (237).

BFS is also reachable through (0922) 9999-BFS, via email at info@bfs.com.ph, and real time online on www.bfs.com.ph (click on B-Online).