Efren Laraya is a good father and an excellent provider based in San Jose del Monte, Bulacan. He operates a bakery with just enough income for his family. His stay-at-home wife cares for their two elementary-aged children and a toddler. While merely renting a property, Mr. Laraya learned from BFS that he could buy a low cost home in his area through the Fruits Of Your Labor program. After inquiring from BFS and fulfilling his requirements, Mr. Laraya was pleased to find that BFS accepted his offer. BFS provides previously-owned properties and property rights to third party buyers. As of today, more than 195,000 Filipinos occupy BFS...
With four children out of the house her has been occupying, and a72-year old sister as her companion, Ms. Medalla Osdana was considered indigent by her barangay. As her sister suffers from blindness and is physically-challenged, Ms. Medalla was able to qualify for BFS’ Social Window program. BFS provides opportunities to all qualified applicants so that they may own their...
Since taking over more than 52,000 delinquent loans from the National Home Mortgage Finance Corporation in 2006, BFS has resolved almost 40,000 mortgages. The mortgage servicer upholds that buying a house is a large investment for a Filipino, and understands the devastation Filipinos experience when their loan payments cannot be met due to unforeseen circumstances such as medical conditions that lead to extreme cases of poverty. In such cases, BFS offers the Social Case Window which allows existing delinquent borrowers to apply for additional waivers and discounts after an exhaustive examination of their submitted documents. One such accountholder in Davao City had two children suffering from severe lung problems. The monthly pension of her husband could only support their daily expenses and the medical needs of both sons; thereby depriving her of funds to settle her outstanding obligation with BFS for the repayment of their loan. After discussing her condition with BFS and providing the necessary paperwork for BFS to determine if she qualified for the Social Case Window, she was ecstatic to discover that BFS granted her request. As a result, she was able to redeem her property and take a large load off her back. She espouses...
After assuming a BFS home from an original borrower, Mr. and Mrs. Sales finally bought the home they had been occupying for several years. Through an afforadable resolution package, they were able to legitimately own their home. BFS, the pioneering mortgage servicer, provides affordable solutions for true...
Very few circumstances can be more terrifying than facing unexpected medical emergencies. This is further compounded when those affected live on limited incomes, and the unanticipated expenses lead to the loss of a home. BFS, the pioneering mortgage servicer in the Philippines, has a program for its borrowers who face such life-altering conditions. With the Social Case Window, BFS is able to grant additional waivers on outstanding loans after processing applications by eligible borrowers. Due to this program, an accountholder in Panabo City is now the proud owner of the house he has lived in for the last 20 years or so. Due to a disability, he fell into unemployment; and as a senior citizen with an unemployed spouse, he can only depend on his monthly pension which barely covers their basic needs. Even his four children cannot help as only one is employed and needs to supplement the family income. The accountholder did not expect BFS to fully forgive his loan. With dignity, he sought out help from relatives in order to pay off his obligation. Unfortunately, it was not enough to settle his loan. At this point, he applied for the Social Case Window. After exhausting his...
Two BFS accountholders have a lot in common. Other than being single career women, they are incessant savers, and both occupied properties with long outstanding mortgages. Managed by BFS, these mortgages dated back to the 1990s and were severely delinquent for over 20 years. They were constantly contacted by BFS to settle their obligations as the company assured both ladies that legal homeownership was the way to go. They were delighted when they received the Home Saver Offer. Armed with savings and the will to settle, they each discussed their offers with BFS and reached agreements to finally pay off their loans. Despite the final amounts being lower than what was provided in the Home Saver Offer, BFS granted their settlements. BFS’ Home Saver Offer is only one of the many programs the Philippines’ pioneering mortgage servicer has to offer. Situated in Bonifacio Global City and Davao City, the company designs innovative ways to settle outstanding mortgages from its portfolio of over 52 thousand loans from the National Home Mortgage Finance...
