Very few circumstances can be more terrifying than facing unexpected family circumstances. This is further compounded when those affected live on limited incomes, and the unanticipated expenses can leave family members feeling insecure about their future. BFS, the pioneering mortgage servicer in the Philippines, has a program for property buyers who face such life-altering conditions. With the Social Case Window, BFS is able to grant additional waivers on property sales prices after processing applications by eligible buyers. Thanks to this program, Adrian and Melanie Mariano of Golden City Subdivision in Dasmarinas, Cavite are now the proud owners of the house they have been living in for many years. Due to an unexpected pregnancy, Melanie fell into unemployment while her spouse was able to continue working at the Bureau of Fire Protection. With the impending arrival of a child, their income would barely cover their basic needs. But the couple wanted to secure a home for their growing family and learned from the cousin of Melanie’s mother that BFS was homes at affordable prices. The Marianos made an offer below the selling price for the property but BFS responded with a slightly higher settlement amount. With dignity, Adrian decided to...
BFS is the pioneering mortgage company in the Philippines which aims to settle mortgages which have been overdue for more than 20 years. It services over 52 thousand delinquent loans from the National Home Mortgage Finance Corporation, of which almost 40 thousand have been resolved. BFS Account Specialists manage their own portfolios of accounts, negotiating daily to find proper customized settlement options for their clients. The Home Saver Offer program is designed to find the most optimal settlement amount for each account. With large discounts and condonation of interest and penalties, the program has allowed thousands of BFS clients to resolve their accounts and obtain legal homeownership over the properties they have occupied for decades. This is the case in Bataan where many borrowers have been able to pay off their obligation. Constantly worried that they would lose their tenancy, these Bataan residents sought the help of family and friends to consolidate enough funds to settle their accounts. Whether widowed or with a limited income, borrowers were able to come to an agreement with their Account Specialists, even if settlement amounts were lower than what were offered by the Home Saver Offer. The full payment of the loans guaranteed...
Many BFS borrowers in Cavite have a lot in common. Other than being single career women, they are incessant savers, and have occupied properties with long outstanding mortgages. Managed by BFS, these mortgages dated back to the 1990s and were severely delinquent for over 20 years. These borrowers were constantly contacted by BFS to settle their obligations as the company assured these ladies that legal homeownership was the way to go. They were delighted when they received the Home Saver Offer. Armed with savings and the will to settle, they discussed their offers with BFS and reached agreements to finally pay off their loans. Despite the final amounts being lower than what was provided in the Home Saver Offer, BFS granted their settlements. BFS’ Home Saver Offer is only one of the many programs the Philippines’ pioneering mortgage servicer has to offer. Situated in Bonifacio Global City and Davao City, the company designs innovative ways to settle outstanding mortgages from its portfolio of over 52 thousand loans from the National Home Mortgage Finance...
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...
Mr. Sixto Caluza is the happy owner of a BFS property as he displays the property title in his name. Having acquired a portfolio of over 52 thousand highly-defaulted mortgages from the NHMFC, BFS offer programs for affordable and legal homeownership to its existing delinquent borrowers and new buyers. Like Mr. Caluza, over 190,000 Filipinos have availed of these programs and are now happy residents in properties located in established communities throughout the country. BFS continues to service these accounts out of its offices in BGC and Davao City and can also be accessed through its website...
(PJ Tonight) Leonilda Aber shows off the land title of the property she was able to obtain through BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation. Aber s public school teacher, has been using an adjacent property to their house as a storage room but has always planned to buy it to secure the property. Thanks to the great deals from BFS, she was finally able to purchase the property, securing it from illegal occupants. 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 of penalties and...
