BFS Addresses 52,000 Financially Challenged Home Borrowers

Mrs. Rosario Briones of Mabalacat, Pampanga, the latest Balikatan borrower to successfully resolve her long outstanding housing loan, receives her TCT from a BFS account specialist.

Pioneer mortgage servicing company BFS, Inc. has helped some 21,000 Filipino families to fully resolve their long outstanding and overdue loan obligations, with yet another 27,000 accounts in the resolution pipeline. This was made possible through BFS’ best-practice, end-to-end mortgage servicing platform.

BFS, Inc. is the exclusive mortgage servicer and asset manager of the residential mortgage loan portfolio of Balikatan Housing and Finance, Inc. (BHFI).

“We are glad that through our efforts, families have reclaimed their homes and have peace of mind,” states BFS Federico Y. Cadiz, Jr. “More importantly, they now have assets in the form of realized home equity, which for individual families is the largest component of personal savings—savings that may increase as their homes appreciate in value over time and may be passed on to their loved ones.”

The most recent borrowers to successfully settle their obligation are Mr. and Mrs. Marianito Briones of Mabalacat, Pampanga.

“Thank you for making this affordable. Thank you because we were able to resolve our housing loan. My husband and I feel relieved that we no longer have to worry about it.”

“We are inspired to continue making an impact in the lives of Filipino families who are seriously committed to settling their debt,” shares Mr. Cadiz. “The Briones family’s ability to own their home, as in the case of the other thousands, will now certainly have a positive ripple effect on the economy. This is also in line with BFS’ objective to help improve the overall liquidity in the housing capital markets. By reintroducing liquidity to under-performing assets, money will resume circulating throughout the system, making funding available to other borrowers for new home purchases.”