(People’s Journal) Antonia Dela Cruz is now a happy home owner after receiving the title to her very own property in Imus, Cavite, which she acquired with the help of BFS, the mortgage service provider for around 52,000 delinquent loans from the National Home Mortgage Finance Corporation. BFS 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 partially condoning penalties and...
(Business Mirror) Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine. The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate. The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture. The owner’s duplicate copy of the certificates of the title has the word ‘Owner’s Duplicate’ and the red seal. The original copy does not contain either of these. All judicial forms do not blot or stain the paper...
(The Philippine Star Online) Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine. The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate. The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture. The owner’s duplicate copy of the certificates of the title has the word ‘Owner’s Duplicate’ and the red seal. The original copy does not contain either of these. All judicial forms do not blot or stain...
(The Philippine Star) Manila, Philippines – Selling fraudulent certificates of title remains one of the most widespread scams in the country. BFS (Bahay Financial Services), the only mortgage servicer and special asset management company, shares some pointers on how to avoid falling prey to scam artists making sure the copies of title are genuine. The transfer certificate of title (TCT), the Registry of Deeds’ (RD) copy and the owner’s duplicate should be identical in all aspects, including capitalization, punctuation marks, erasure and even typos. For reference, ask for the Registry of Deeds’ original copy and compare with the owner’s duplicate. The last two or three digits of the TCT number should be identical to the page number. The serial number (SN) of the title as arranged in the registry book consecutively numbered. Government agencies keeping a record of the serial numbers assigned to each registry are the Land Registration Authority, Land Management Bureau and the Department of Agriculture. The owner’s duplicate copy of the certificates of the title has the word ‘Owner’s Duplicate’ and the red seal. The original copy does not contain either of these. All judicial forms do not blot or stain the...
(Philippine Daily Inquirer) BFS, a mortgage servicer and special asset management company, calls on homeowners from Mindanao to avail of all possible mortgage financing options to avoid foreclosure. BFS handles the Balikatan portfolio of more than 52,000 highly delinquent loan accounts from the National Home Mortgage Finance Corporation (NHMFC). It 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, South Cotabato, Sultan Kudarat), CARAGA (Agusan del Norte, Agusan del Sur, Surigao del Norte, Surigao del Sur), Western Mindanao (Basilan, Misamis Occidental, Zamboanga del Norte, Zamboanga del Sur) and the Autonomous Region of Muslim Mindanao or ARMM (Maguindanao, Sulu and Tawi-Tawi). Delinquencies were usually a result of missed payments because of other expense priorities such as payment of children’s tuition fees, seed money for business, and placement fees for family members with OFW’s. “What we are most concerned 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...
