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Posted by on Apr 13, 2016 in Corporate News, Loan Accounts News

BFS helps homeowners keep their homes

BFS helps homeowners keep their homes

(Business Mirror)

Losing one’s home can be heartbreaking and Bahay Financial Services (BFS), the mortgage servicer of 52,000 delinquent housing loans acquired from the National Home Mortgage Finance Corp., knows this very well.  BFS’s Social Case Window program assists delinquent borrowers in settling payments of their loan obligation.  Borrowers may apply for the program for cases such as extreme poverty or serious medical conditions to avail themselves of lenient financial options.

Among the borrowers that have benefited from the program are Jessica Garcia, a teacher and tutor from Zamboanga City who was able to settle P314,000 in loans for her parents’ home; Wilson Co, whose wife was widowed and for whom BFS helped settle his P86,000 loan; Gregorio Ybanez Jr., a cable installer from Mindanao who was able to receive a P5,000 discount on his loan; and Wilfredo Fernando, a welder from Batangas who was saved from eviction and was able to buy the home he and his family are living in, thanks to a deal from BFS.

“These are only a few of the people reaching out to BFS to solve their housing payments by applying for the Social Case Window in their desire to settle their long outstanding loan obligations and finally legitimize their home ownership.  They are exceptional cases where we deem it important to extend a helping hand,” BFS said.

Since BFS launched the program, 85 percent of the borrowers who applied for the program had qualified, while 100 percent has been resolved.

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