BFS puts roof over heads of over 100K Filipinos
(People’s Journal) When residential home loans become delinquent, borrowers are burdened to resolve their accounts to avoid spiraling penalties and interest. Fortunately for borrowers of Balikatan accounts, they are given a chance at legitimate homeownership through the efforts of BFS, the Philippines’ premiere mortgage servicing company. BFS by reaching out to allow the borrowers to obtain legitimate homeownership has resolved more than 26,000 accounts from the Balikatan portfolio, providing housing for more than 100,000 Filipinos. “BFS is devoted to helping Filipinos find ways to resolve their outstanding loan obligations so that they feel the security of homeownership and can bequeath a homestead to their children instead of a debt,” says BFS president Federico Cadiz. BFS has committed to offering Balikatan borrowers with different financial options to avoid foreclosure, including basing resolution amounts on current appraised values instead of outstanding principal balances and partial condonation of penalties and...
