BFS grants homeownership to a House Occupant
Having taken over more than 52 thousand highly-defaulted loans from the National Home Mortgage Corporation in 2005, BFS constantly seeks settlement options with the hopes that borrowers will be able to finally be proud owners of the homes they have been occupying. As a result, BFS has resolved over 40 thousand home mortgages and provided homes to more than 200 thousand Filipinos.
In some instances, those occupying these homes are not original borrowers but individuals who have assumed habitation. Such assumptions of occupancy do not give the new individuals rights to the homes as the mortgages still need to be settled. In some cases however, extenuating circumstances deny such individuals from being able to procure the properties.
Such a circumstance was that experienced by Pandaan’s family of Dasmarinas, Cavite. They received a letter from BFS asking them to settle the mortgage attached to their occupied property. BFS granted Ramon Pandaan a highly-discounted settlement amount in order to settle the obligation. After processing the documentation and making the proper payment, the Pandaan family now has legal ownership of the house in which they brought up their family.
BFS has offices in Bonifacio Global City and Davao City, servicing clients who are willing to face their obligations and settle their outstanding loans.