Loan Condonation
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 Communication
