Maritess Reyes (right) receives her TCT from BFS Account Specialist Jackie Aribon. Maritess Reyes is a single parent with two kids who are still in school. She could not make her payments up-to-date since she does free lance work and her monthly income was not sufficient for her monthly amortization for a small house in Moncarlo Village, San Mateo Rizal. She had mixed emotions upon receiving the letters from BFS but she also had this desire to redeem the property and put everything in order. Hence, Maritess kept communicating with BFS through its account specialists. In these discussions, she learned about the best resolution option given her financial situation. Maritess borrowed from a friend and a colleague and decided to put the issue to rest. “I feel very much relieved. At least now, I have the assurance that I could stay in a house that I could call my own and I could improve it without worrying.” Maritess concludes, “We need to be open to negotiations so that we can save our homes. I am truly grateful to BFS because now, the house is really mine. Thank you BFS!” BFS, the premiere special assets...
Since BFS started servicing Balikatan accounts in 2005, it continues to provide ways to reach Balikatan account holders throughout the country. BFS-Account Management Department’s BAHAY-nihan Field Processing was recently held in Tagum City, Davao del Norte, to manage the accounts which were offered the BFS Bahay Condonation Special Program. Hundreds of clients visited the Field Processing activity at the Freedom Park Covered Area in Tagum. BFS account specialists discussed the status of individual accounts with Balikatan borrowers and counseled them on BFS’ many resolution options. As a result, many more borrowers resolved their loans. The BAHAY-nihan Field Processing was moved to Barangay Gredu’s Covered Court in Panabo City on May 14 and 28, 2011 and went back to Tagum City on May 21, 2011. All Balikatan borrowers are encouraged to visit in order to discuss their loans. For details on the Bahay Condonation Special, please contact the BFS Davao Hotline: (082) 221-0809 or the BFS Manila Hotline: (02) 750-3888. Clients may also transact via the internet by logging-on to http://www.bfs.com.ph and clicking the B-Online Customer Service Desk icon. BFS, the premier special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of...
A BFS Account Specialist counsels borrowers On its fifth year, BFS, the country’s only mortgage servicing company in the Philippines commits to deliver unparalleled customer service to enable more Balikatan borrowers to realize the gift of homeownership. It has enabled more than 20,000 borrowers to become legitimate homeowners as of 2011. The company’s main goal has always been to marry its recovery efforts for delinquent loans with the need to help Filipinos settle their long outstanding obligations. BFS offers customized resolution packages so that defaulting borrowers can pay their loans. Since each account holder’s payment history, capacity to pay and loan balance differs, the packages have to be individualized. BFS continues to provide a menu of options which are borrower friendly schemes. Borrowers with cash or have access to formal or informal lenders usually opt for a highly discounted pay-off. Borrowers with no cash but with the capacity to pay by installment prefer in-house refinancing. Sometimes, borrowers voluntarily surrender their property if they cannot manage financially and swap their existing home for a smaller and more affordable unit. In doing so, they resolve their debt obligation and protect their credit rating too. Finally, BFS makes leeway...
Elena Dimabayao(left) receives her TCT from BFS Account Specialist Marc Lexter Bagulbagul BFS continues to make legitimate homeownership possible for Balikatan borrowers such as Elena Dimabayao. Elena is truly thankful that through BFS, she could save her home in Golden City, Sta. Rosa Laguna. Elena narrates that she did not have sufficient funds in the past and defaulted on her monthly housing amortizations. When she got notified that her loan account was part of a portfolio that was transferred to Balikatan Housing, she visited BFS, servicer of the loan accounts. “I just felt happy at the chance to redeem so I made an inquiry and asked about the terms.” BFS, through its highly trained account specialists, explained to Elena her options and facilitated a discounted settlement amount. Elena used up her savings to resolve and is now counted among BFS’ growing list of happy homeowners. Elena shares her experience, “I’m very happy and contented. We really must find a way to save our homes rather than lose it through foreclosure. BFS is truly a great help because it has a very professional team. They have policies but they listen to borrowers too.” BFS, the...
Danilo Isidro (middle) receives his TCT from BFS Account Specialist Marc Lexter Bagulbagul BFS continues to make legitimate homeownership possible for Balikatan borrowers such as Danilo Isidro. Isidro is from Dona Matilda St., Lourdes Heights, Pampanga. The family was badly affected by lahar with Mt. Pinatubo’s eruption in 1991 and could not make good on their mortgage payments. The Isidros decided to coordinate with BFS upon receiving a notice of foreclosure. They were relieved to learn about BFS’ many resolution options and understand how it helps distressed families like them to recover their homes. The Isidros worked out a settlement amount with the help of their account specialist and pooled their collective borrowings. “We realized how important it was to monitor our housing loan because it is an investment. Our Account Specialist assisted us every step of the way to come to a resolution. There’s pressure with every follow-up which helped us in the end. Thank you BFS,” concludes Isidro. BFS, the premiere special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of Balikatan Housing since 2005. In the process, it has fulfilled the dreams of homeownership for...
Gladys Nonato(left) receives her TCT from BFS Account Specialist Michelle De Guia Gladys Nonato decided to assume the loan for a property in Golden City Subd III, Bo Dolores, Taytay, Rizal. The loan account was part of a highly distressed portfolio now serviced by BFS. She felt that the property was perfect for her growing family and that they could qualify as assumers since she and her spouse were both gainfully employed. “Tumawag kami sa BFS at nakipag-communicate nung matanggap ang Notice of Assignment. (We called BFS and communicated with them when we got a Notice of Assignment.) It took us a while to appreciate the options and to determine what kind of payment terms work for us.” When a negotiated settlement amount was approved, Gladys decided to borrow additional funds to settle. Because BFS facilitated things, Gladys now holds the title to her home, and is happy. “Matiyaga ang AS namin, mabilis sumagot at napabayad ako. (Our AS is very patient, quick to respond and convinced me to settle.) I’m very thankful that my account specialist did not give up on us. Now, we own our home.” BFS, the premiere special assets management and mortgage...
