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Brand new start

(Malaya) Romeo and Rebecca Calza (left) are happy homeowners with the help of BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation, with more than 601 of the total number resolved. A BFS account specialist guided the couple through the correct procedure of getting their property, which they could finally pay for even with tuition payments for their children.  BFS has committed to offering Balikatan borrowers with different financial options to avoid foreclosure.  These include basing resolution amounts on current appraised values instead of outstanding principal balance, and partially condoning of penalties and interest....

New start from BFS

(Malaya) Salvation Tenorio of Quezon City shows off the title of the property she obtained with the help of BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation, with more than half of the total number resolved. The new home will provide Tenorio a new start now that she has become single once again.  Since 2006, BFS has committed to offering Balikatan borrowers with different financial options to avoid foreclosure.  These include basing resolution amounts on current appraised values instead of outstanding principal balance, and condoning of penalties and...

BFS Social Case Window helps delinquent borrowers

(The Philippine Star)   BFS, the mortgage servicer of 52,000 delinquent housing loans acquired from the National Home Mortgage Finance Corp., recognizes marginal cases where delinquent borrowers cannot pay the full amount of their loan obligations due to extreme poverty, old age, or serious medical conditions, among others, and who are unable to receive support from family members.   The BFS Social Case Window program helps borrowers access more lenient financial options if borrowers applying under the program can adequately demonstrate their eligibility under the program’s coverage.   Among those who have benefitted from the Social Window Case program are Vilma Dada, who was diagnosed with stage 3 breast cancer in 2012, Mimosa Famularcano who has been supporting her younger brother who was diagnose with lung cancer; Pascua Mendoza who suffered a financial setback when his wife suffered heart problems last year and had to earmark the funds for hospital bills, and many more.   “These are only a few of the people reaching out to BFS to resolve their housing payments by applying for the Social Case Window in their desire to settle their long outstanding loan obligations and finally legitimize their  home ownership. They are exceptional cases...

Land title awarding

(The Philippine Star) BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corp., awards to husband and wife Nicasio and Maura Cruz their land title. The Cruz couple finished their mortgage payment after BFS helped them manage their delinquent loan, with the help of their BFS account specialist. BFS has committed to offering Balikatan borrowers with different financial options to avoid foreclosure. These include basing resolution amount on current appraised values instead of outstanding principal balance, and partial condonation of penalties and...

Finally, her own home

(People’s Journal) Antonia Dela Cruz is now a happy home owner after receiving the title to her very own property in Imus, Cavite, which she acquired with the help of BFS, the mortgage service provider for around 52,000 delinquent loans from the National Home Mortgage Finance Corporation. BFS has committed to offering Balikatan borrowers with different financial options to avoid foreclosure. These include basing resolution amounts on current appraised values instead of outstanding principal balance, and partially condoning penalties and...

How to spot fake titles

(The Philippine Star)   Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine.   The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate.   The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture.   The owner’s duplicate copy of the certificates of the title has the word ‘Owner’s Duplicate’ and the red seal. The original copy does not contain either of these. All judicial forms do not blot or stain the...