New start for couple
Romeo and Rebecca Calza (in photo, left) are new happy homeowners with the help of BFS, the mortgage servicer of more than 52,000 Balikatan delinquent loans from the National Home Mortgage Finance Corporation. BFS now has the reputation of having more than 60% of the total number of delinquent loans resolved. A BFS Account Specialist guided the couple through the correct procedure of getting their new property, which they could finally pay for even with tuition payments for their children. Then company has committed to offering Balikatan borrowers with different financial options to avoid foreclosure. These include basing resolution amounts on current appraised values instead of outstanding principal balance and partial condoning of penalties and interests.