Having taken over more than 52 thousand highly-defaulted loans from the National Home Mortgage Corporation in 2005, BFS constantly seeks settlement options with the hopes that borrowers will be able to finally be proud owners of the homes they have been occupying. As a result, BFS has resolved over 40 thousand home mortgages and provided homes to more than 200 thousand Filipinos. In some instances, those occupying these homes are not original borrowers but individuals who have assumed habitation. Such assumptions of occupancy do not give the new individuals rights to the homes as the mortgages still need to be settled. In some cases however, extenuating circumstances deny such individuals from being able to procure the properties. Such a circumstance was that experienced by Pandaan’s family of Dasmarinas, Cavite. They received a letter from BFS asking them to settle the mortgage attached to their occupied property. BFS granted Ramon Pandaan a highly-discounted settlement amount in order to settle the obligation. After processing the documentation and making the proper payment, the Pandaan family now has legal ownership of the house in which they brought up their family. BFS has offices in Bonifacio Global City and Davao City, servicing clients who...
In the last few years, Bacoor, Cavite has progressed exponentially. From a municipality, the area was granted cityhood in 2011 and has a population of over 600 thousand people. One of its residents, Ronito Ponce, acquired his Springville Subdivision home from BFS after hearing about its good reputation from Pag-Ibig. With the perfect location and affordable price, the property was a good fit for Mr. Ponce. When asked how his experience was with BFS, he says, “Mairekomenda naming kasi maayos and proseso”. (We can recommend them because the processing was easy and efficient.) BFS took over more than 52 thousand delinquent loans from the National Home Mortgage Corporation. Through its various resolution and sales programs, BFS has provided legal homeownership to its borrowers and buyers, and put roofs over the heads of more than 190,000 Filipinos. BFS operates out of its offices in BGC and Davao City, working out packages for its...
Joseph Llano and his wife have worked hard all their lives. They put aside their dreams of homeownership while they provided for their children’s education so that their eldest is now working, their second is married, and their youngest is a fresh graduate seeking employment. Unfortunately, before they could start looking for a home, the unexpected happened: Mrs. Llano was stricken with breast cancer and had to give up her job. Although she is recovered from the disease, she has to continue taking medication to stay in remission. But the Llanos did not want to give up on their dreams. In 2017, the quality control inspector and his wife started eyeing a BFS property in Dasmarinas, Cavite. They found that BFS properties are the most affordable in relation to other property sales groups. At the time, they didn’t have the funds and so planned to save their income in order to procure the property. In a year’s time, the Llanos were able to save enough to make an offer on the property. They were delighted that their BFS Account Specialist was reliable in helping them through the process of homeownership in a quick and efficient manner. Now, they are...
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...
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...
