BFS reaches out to Mindanao home loan borrowers

(People’s Journal Tonight)

BFS has intensified its campaign to help homeowners with delinquent loan payments in Mindanao to avoid foreclosure.  A mortgage service and special management company, BFS has recently reached out to delinquent loan borrowers in Southern Mindanao (Compostela Valley, Davao Del Norte, Davao del Sur, and Davao Oriental), Northern Mindanao ( Bukidnon, Lanao del Norte, Misamis Oriental), Central Mindanao (North Cotabato, Sultan Kudarat), CARAGA (Agusan Del Norte, Agusan del Sur, Surigao del Norte, Surigao del Sur), Western Mindanao (Basilan, Misamis Occidental, Zambonga del Norte, Zambonga del Sur) and the Autonomous Region of Muslim Mindanao or ARMM (Maguindanao, Sulu and Tawi-Tawi).

BFS handles the Balikatan portfolio of more than 52,000 highly delinquent loan accounts from the National Home Mortgage Finance Corporation (NHMFC).

Priorities such as payment of children’s tuition fees, seed money for business, and placement fees for family members with OFWs are the reasons given for delinquent payments. “What we are most concerned about is that some of them said they do not know where the amortization should be paid, which redounds to lack of borrower education. We urge the borrowers to take advantage of the various remedies we offer to help get them out of problematic situations,” says Federico Cadiz, president of BFS.

“We hope that more borrowers would avail of the easy payment arrangements that are not only economical but secure,” adds Cadiz.

BFS offices are in Makati, Alabang, and Davao, and may be reached via email info@bfs.com.ph or www.bfs.com.ph .