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PAST DUE BALIKATAN LOANS Why do I need to resolve with BFS? The LMA contract I signed was for 25 years; why do I have to resolve now? The National Home Mortgage Finance Corporation (NHMFC) sold your account to Balikatan in 2005. NHMFC sent a Notice to Assignment to all borrowers, with advice that only Balikatan’s mortgage servicer, BFS, is authorized to transact with you. The LMA contract states that the payments were to be made in regular monthly installments over 25 years. The payments were not made regularly and the loan is now delinquent. It is in your interest that the loan be resolved now in order to own your home and avoid foreclosure. Delaying resolution also increases the settlement amount due to increased foreclosure costs. Can I have my account returned to NHMFC? I have payments with NHMFC, where are they? Can I just continue the monthly amortizations I paid with NHMFC? Your account cannot be returned to the NHMFC. Your payments with the NHMFC were applied to your settlement amount. If you believe there are payments which you made and were not credited, please reconcile with the NHMFC. Until proven otherwise, BFS will use the NHMFC...
