Investors clamor for pre-owned homes
(Business Mirror) Acquiring pre-owned homes has become popular among first-time buyers, but BFS, the country’s only mortgage servicer and special asset management company for a portfolio of more than 52,000 delinquent loan accounts, has also noted an increase of purchases by investors. Federico Y. Cadiz, president of BFS, said there has been a marked increase in the number of homebuyers who refurbish the pre-owned homes and resell them because they are a viable investment option. While BFS is company-of-choice among clients who hope to keep their homes through resolutions and loan restructuring, BFS also has a portfolio of properties which make for good investments. “Investors know that the values of real-estate property increase over time and BFS has made the foreclosed properties affordable, with easy payment schemes; that is why investors expect a good return,” Cadiz explained. BFS was set up precisely to manage such a portfolio by establishing a mortgage platform which manages all core competencies for servicing including loan origination, loan underwriting, loan servicing, credit management, valuation,...
