BFS helps those in need
Very few circumstances can be more terrifying than facing unexpected family circumstances. This is further compounded when those affected live on limited incomes, and the unanticipated expenses can leave family members feeling insecure about their future.
BFS, the pioneering mortgage servicer in the Philippines, has a program for property buyers who face such life-altering conditions. With the Social Case Window, BFS is able to grant additional waivers on property sales prices after processing applications by eligible buyers.
Thanks to this program, Adrian and Melanie Mariano of Golden City Subdivision in Dasmarinas, Cavite are now the proud owners of the house they have been living in for many years.
Due to an unexpected pregnancy, Melanie fell into unemployment while her spouse was able to continue working at the Bureau of Fire Protection. With the impending arrival of a child, their income would barely cover their basic needs. But the couple wanted to secure a home for their growing family and learned from the cousin of Melanie’s mother that BFS was homes at affordable prices.
The Marianos made an offer below the selling price for the property but BFS responded with a slightly higher settlement amount. With dignity, Adrian decided to sell their motorcycle in order to increase their offer, although it was still not enough to pay for the property. At this point, he applied for the Social Case Window. After exhausting his resources, his available funds were still below the allowable sales price. Despite this, BFS accepted their offer.
BFS took over more than 52 thousand highly-defaulted loans from the National Home Mortgage Finance Corporation, of which it resolved almost 40 thousand through programs that seek to provide affordable prices so that Filipinos have places to call home. Situated in Bonifacio Global City and Davao City, BFS opens its doors to property occupants and third party buyers who seek properties in developing areas with infrastructure growth for a fulfilling family life.
