new start begins
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 interest.