Few things bring more pride to parents than being able to buy a home for their child. Such was the case for Concordia Llamera who wanted to buy a townhouse for her daughter which was close to her own home. Mr. and Mrs. Llamera are pensioners who get additional financial support from their two children. They are proud owners of a BFS townhouse they acquired in 2004 and wanted to gift their child with the same. After identifying a townhouse just three doors down from their own, their knowledgeable Account Specialist walked them through the BFS Fruits Of Your Labor program which provides affordable pre-owned homes to interested buyers. The Llameras found not only that the pricing was reasonable and within their budget, but that the processing of their documents by their Account Specialist was quick and efficient. They advise each potential buyer to conduct due diligence on his intended property, its documentation, and the payment of its real property taxes in order to make an informed purchase. BFS is the country’s premier mortgage servicing company with offices in Bonifacio Global City and Davao...
Since taking over more than 52,000 delinquent loans from the National Home Mortgage Finance Corporation in 2006, BFS has resolved almost 40,000 mortgages. The mortgage servicer upholds that buying a house is a large investment for a Filipino, and understands the devastation Filipinos experience when their loan payments cannot be met due to unforeseen circumstances such as medical conditions that lead to extreme cases of poverty. In such cases, BFS offers the Social Case Window which allows existing delinquent borrowers to apply for additional waivers and discounts after an exhaustive examination of their submitted documents. One such accountholder in Davao City had two children suffering from severe lung problems. The monthly pension of her husband could only support their daily expenses and the medical needs of both sons; thereby depriving her of funds to settle her outstanding obligation with BFS for the repayment of their loan. After discussing her condition with BFS and providing the necessary paperwork for BFS to determine if she qualified for the Social Case Window, she was ecstatic to discover that BFS granted her request. As a result, she was able to redeem her property and take a large load off her back. She espouses...
BFS is the pioneering mortgage servicer in the Philippines. With offices in Bonifacio Global City and Davao City, BFS services over 52 thousand highly-delinquent loans from the National Home Mortgage Finance Corporation. To date, it has resolved almost 40 thousand of these loans due to its flexibility in offering settlement options for Filipino borrowers. A public school teacher and sole breadwinner availed of the Social Case Window program which grants applicants with additional waivers and discounts if found eligible. In her case, the loan was settled for her Tagum City home even if funds from an external financier were not able to cover her full obligation since BFS approved her negotiated settlement...
Since having lost her husband to acute respiratory failure in March 2018, an accountholder’s widow wanted only to grant the dying wish of her husband to settle the outstanding mortgage from BFS. He wanted her to have the security of owning the property where they had brought up their three children. BFS, through many communication channels, were in consistent contact with the widow, working out a manageable resolution package so that she could bring her husband’s wish to fruition. She had wanted to settle the loan for a many years, but tight finances and limited funds were too daunting. BFS then presented her with the Home Saver Offer which provides deep discounts and waivers versus the outstanding principal balance, interest, penalties, and surcharges. She grabbed the opportunity to settle as soon as she could, and consolidated all her funds to settle with BFS. Seeing her fervor and sincerity, BFS agreed to the settlement amount she offered even if it was less than what the program provided. Due to this generosity, she was able to pay off her outstanding loan in cash and finally own their family home. Her husband must be smiling. BFS did another good turn in providing...
Owning a home is probably the largest dream each family has. A place to rest their weary limbs after a long day’s work, a sanctuary as the children grow up, a safe place to create memories. This was the dream of a single-parent nurse who brought up four children on her own. While two of her children are likewise nurses, she still has two children in school. Having assumed tenancy over the property for a number of years, she was aware of the need to settle the loan obligation in order to obtain the security that true homeownership has to offer. It was fortunate that they received the Home Saver Offer which provided for a large discount if they settled the mortgage in cash. Together with her two working children, the three nurses raised the funds for the property’s settlement, and made an offer to BFS. To their delight, even if they were not able to reach the amount given by the Home Saver Offer, BFS accepted their tender. For this family, homeownership was a dream fulfilled. Finally, a place to relax, a sanctuary for peace, and a safe place that the family can call their own. The Home...
