BFS extended its loan condonation and restructuring program to help Balikatan borrowers realize their homeownership aspirations. Called the Panalo Max Offer, the program was first launched in April 2012 and its primary objective was to offer highly discounted terms for delinquent Balikatan borrowers as well as other term financing resolutions depending on the status of borrowers’ accounts. “It has been BFS’ policy that foreclosure is a last resort and least preferred option in resolution situations. We want borrowers to be able to save their homes and get closure rather than see them go through foreclosure and eviction because of one reason or another,” explained Juno Henares-Chuidian, head of BFS Corporate...
(Manila Bulletin) BFS, a mortgage servicing and special asset management company, said it extended its loan condonation and restructuring program to help Balikatan borrowers realize their homeownership aspirations. The program, called the Panalo Max Offer, was first launched in April 2012 with the primary objective of offering highly discounted terms for delinquent Balikatan borrowers as well as other term financing resolutions depending on the status of borrowers’ accounts. “It has been BFS’ policy that foreclosure is a last resort and least preferred option in resolution situations,” said BFS Corporate Communication Head Juno Henares-Chuidian. “We want borrowers to be able to save their homes and get closure rather than see them go through foreclosure and eviction because of one reason or another. This is what the Extended Panalo Max Offer represents – a “helping hand” extended by BFS in realizing our borrowers’ dreams of homeownership, Henares-Chuidian said. The response for the Panalo Max Offer has been positive, with thousands of borrowers resolving their accounts which included Balikatan borrowers who were based abroad as overseas workers. In spite of its past success, BFS urges the qualified Balikatan accountholders to resolve their accounts earlier since the foreclosure...
(The Daily Tribune) BFS extended its loan condonation and restructuring program in continuing its effort to help Balikatan borrowers realize their homeownership aspirations. Called the Panalo Max Offer, the program was first launched in April 2012 and its primary objective was to offer highly discounted terms for delinquent Balikatan borrowers as well as other term financing resolutions depending on the status of borrowers’ accounts. “It has been BFS’ policy that foreclosure is a last resort and least preferred option in resolution situations. We want borrowers to be able to save their homes and get closure rather than see them go through foreclosure and eviction because of one reason or another. This is what the Extended Panalo Max Offer represents – a “helping hand” extended by BFS in realizing our borrowers’ dreams of homeownership,” said Juno Henares-Chuidian, head of Corporate Communication. To date, the response for the Panalo Max Offer has been positive, with thousands of borrowers resolving their accounts which included Balikatan borrowers who were based abroad as OFWs. In spite of its past success, BFS urges qualified Balikatan accountholders to resolve their accounts earlier since the foreclosure process does not stop until and...
(Malaya) BFS extended its loan condonation and restructuring program in continuing its effort to help Balikatan borrowers realize their homeownership aspirations. Called the Panalo Max Offer, the program was first launched in April 2012 and its primary objective was to offer highly discounted terms for delinquent Balikatan borrowers as well as other term financing resolutions depending on the status of borrowers’ accounts. “It has been BFS’ policy that foreclosure is a last resort and least preferred option in resolution situations. We want borrowers to be able to save their homes and get closure rather than see them go through foreclosure and eviction because of one reason or another. This is what the Extended Panalo Max Offer represents – a “helping hand” extended by BFS in realizing our borrowers’ dreams of homeownership,” explained Juno Henares-Chuidian, head of Corporate Communication. To date, the response for the Panalo Max Offer has been positive, with thousands of borrowers resolving their accounts which included Balikatan borrowers who were based abroad as OFWs. In spite of its past success, BFS urges the qualified Balikatan accountholders to resolve their accounts earlier since the foreclosure process does not stop until and unless...
As Panalo Max came to a close on January 31, borrowers from Isabela to Zamboanga, trooped to BFS to avail of the opportunity to fix a long standing loan and become legitimate homeowners. They join the more than 24,000 Balikatan borrowers who decided to resolve and are now enjoying home equity. Panalo Max which ran for more than ten months offered 100% penalty condonation and up to 100% interest condonation. Panalo Max beneficiaries share how grateful they were to BFS. “I’m happy that we grabbed the opportunity because the recent Panalo Max offer truly helped us.” Rosanna Giron, Camella Homes, Ridgeview I, Muntinlupa City. “The Panalo Max discount was too good to be true. Thank you BFS for making one of my dreams come true.” Zenaida Legore, Pahanocoy Village, Bacolod City “Having been helped by BFS is a great blessing for me and my whole family.” Zaldy Tidadul , Villa Hermosa, Zamboanga City, Zamboanga Del Sur “Thank you BFS for understanding my situation and assisting me.” Epifania Barola, Melecia Homes, Cagayan de Oro City “We are extremely happy and relieved. Thank you BFS for giving us this opportunity to own our house.”...
A significant number of Balikatan borrowers have availed of BFS’ Panalo Max offer extension, joining more than 24,000 borrowers from Ilocos Norte to Southern Mindanao whose homes they now call their own. Initially offered in the first half of 2012, Panalo Max presented special discounts to qualified accounts, with borrowers being given the opportunity to resolve their loans for below the principal loan amount and without paying interests or penalties. “Panalo Max is one of the ways for BFS to help the borrowers we service to resolve their outstanding loans,” explains Juno Henares-Chuidian, BFS’ Head of Corporate Communication. “We do extensive outreach and constant communication, as well as provide account holders with platforms to get in touch with us. Once in touch, we offer affordable resolution packages that provide instant home equity.” BFS’ outreach has led to many account holders being grateful for the opportunity to resolve long-standing obligations. “I know that I must be responsible enough to settle my account on time to avoid foreclosure,” says Danilo Tavas of Novaliches, Quezon City. “Thankfully, BFS provided us with a reasonable and favorable way to settle our loan.” “I finally stopped worrying about losing the...
