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 them said they do not know where the amortization should be paid, which redounds to lack of borrower education. We urge borrowers to take advantage of the various remedies we offer to help get them out of problematic situations,” says Federico Cadiz, president of BFS.
“We hope that more borrowers would avail of the easy payment arrangements that are not only economical but secure,” adds Cadiz.
Visit any of the BFS offices in Makati, Alabang, and Davao. They may also call BFS through trunklines 756-6230 or 750-3888, call the Davao office direct through (082) 221-0809, or call PLDT toll free outside of Metro Manila and Davao through 1-800-10-2255-BFS (237). BFS is also reachable through Text Number 0922-9999-BFS, via email at firstname.lastname@example.org, and real time online by accessing www.bfs.com.ph and clicking on B-Online.