Investors up demand for pre-owned homes
(Manila Bulletin) Acquiring pre-owned homes has become popular among first-time buyers, but BFS, the country’s only mortgage servicer and special asset management company for a portfolio of more than 52,000 delinquent loan accounts, has also noted an increase of purchases from investors. Federico Y. Cadiz, president of BFS, said there has been a marked increase in the number of homebuyers who refurbish the pre-owned homes and resell them because they are a viable investment option. While BFS is company-of-choice among clients who hope to keep their homes thru resolutions and loan restructuring, BFS also has a portfolio of properties which make for good investments. “Investors know that the values of real estate property increase over time and BFS has made the foreclosed properties affordable, with easy payment schemes; that is why investors expect a good return,” explained Cadiz. BFS was set up to manage such a portfolio by establishing a mortgage platform which manages all core competencies for servicing including loan origination, loan underwriting, loan servicing, credit management, valuation, default management, loss mitigation, property management and sales, and secondary market distribution. Since 2005, BFS has provided homeownership for more than 30,000 Filipinos families around the country by helping them...
Brand-new properties thanks to BFS
(PJ Tonight) Mark Acierto of Sta. Rosa, Laguna proudly shows off the titles of his brand new properties acquired through BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation, with more than half of the total number resolved. Aiming to start future projects, Acierto was able to obtain his new properties through a BFS account specialist who guided him through the correct procedure of buying property. 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...
new start begins
(PJ Tonight) Salvation Tenorio of Quezon City shows off the title of the property she obtained with the help of BFS, the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corporation, with more than half of the total number resolved. The new home will provide Tenorio a new start now that she has become single once again. Since 2006, 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 condoning of penalties and...
Happy homebuyer
(Manila Bulletin) Dionisio Erlindo from Loma de Gato, Marilao Bulacan is now a homebuyer after he received the title of the land he bought for his son from an original borrower of BFS. Dionisio was assisted by BFS account specialists go to through the correct procedure of the purchase to get his transfer of Transfer Certificate of Title in two years. Since 2006, BFS has been the mortgage servicer of 52,000 delinquent loans from the National Home Mortgage Finance Corp. with more than half of the total number...
Happy homebuyer
(People’s Journal) Dionisio Erlindo from Loma de Gato, Marilao Bulacan is now a happy homebuyer after getting the title to the land he bought for his son from an original borrower of BFS. Dionisio has been getting help from BFS account specialists to go through the correct procedure of property buying and was able to get his Transfer of Certificate of Title in two years. Since 2006, BFS is the mortgage service provider of 52,000 delinquent loans from the National Home Mortgage Finance Corporation with more than half of the total number...
