(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...
(Business Mirror) 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 balances, and partial condonation of penalties and interest. BFS reaches out to allow the borrowers to obtain legitimate homeownership. As a result, BFS has resolved more than 26,000 accounts from the Balikatan portfolio, providing housing for more than 100, 000...
(Business World) 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 balances, and partial condonation of penalties and interest. BFS reaches out to allow the borrowers to obtain legitimate homeownership. As a result, BFS has resolved more than 26,000 accounts from the Balikatan portfolio, providing housing for more than 100, 000...
(Manila Bulletin) Pioneer mortgage servicing company BFS, Inc. announces that it has assisted more than 26,000 Filipino families to fully resolve outstanding and overdue loan obligations through its end to end mortgage servicing platform. BFS, Inc. is the exclusive mortgage servicer and asset manager of the residential mortgage loan portfolio of Balikatan Housing and Finance, Inc. “Through BFS efforts, many families have reclaimed their homes and now have assets in the form of realized home equity. For most families, this is the largest component of personal savings – savings that may increase as their homes appreciate in value over time and may be passed onto their loved ones,” states BFS president Federico Y. Cadiz, Jr. He adds that the ability of thousands of borrowers to own their homes will have a positive ripple effect on the economy. This is also in line with BFS’ objective to help improve the overall liquidity in the housing capital markets. “By reintroducing liquidity to under-performing assets, money will resume circulating throughout the system, making funding available to other borrowers for new home purchases,” Cadiz says. In addition to its main office at the BPI Buendia Center in...
(Daily Tribune) BFS, the mortgage servicer of 52,000 highly-delinquent loan accounts from the National Home Mortgage Finance Corporation since 2005, has been working with thousands of Balikatan borrowers to resolve their long-standing housing loan obligations and realize homeownership. Its program, Extended Panalo Max, assists Balikatan borrowers who want to resolve their outstanding mortgage obligations. In photo, borrower Myrna Cawaling of San Lorenzo South, Sta. Rosa, Laguna finally receives her Transfer Certificate of Title from her BFS account...
(People’s Tonight) BFS, the mortgage servicer of 52,000 highly-delinquent loan accounts from the National Home Mortgage Finance Corporation since 2005, has been working with thousands of Balikatan borrowers to resolve their long-standing housing loan obligations and realize homeownership. Its program, Extended Panalo Max, assists Balikatan borrowers who want to resolve their outstanding mortgage obligations. In photo, borrower Myrna Cawaling of San Lorenzo South, Sta. Rosa, Laguna finally receives her Transfer Certificate of Title from her BFS account...
