BFS helps couple secure homes
Shirley Sedurifa, joined by her husband and her BFS account specialist, holds the title to the property that she finally was able to own, thanks to BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation. Sedurifa recently lost her job and could not find any way to pay off the loan for her home as she has to prioritize providing for her three children. The BFS account specialist assigned to Sedurifa show her the correct steps to finally obtain her title. BFS has resolved more than 35,000 accounts, thereby providing legitimate homeownership to more than 175,000 Filipinos and committing further to offer Balikatan borrowers 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.