BFS nears the 20,000 resolution mark

MANILA, Philippines - BFS helps move the country forward by providing hope and homes to Balikatan borrowers. It has enabled nearly 20,000 borrowers to become legitimate homeowners as of 2011.

Since it started in 2005, BFS’ main goal has always been to marry its recovery efforts from delinquent loans with a need to help Filipinos settle long outstanding obligations and realize the dream of homeownership. As the country’s premier special assets and mortgage servicing company, it is committed to helping borrowers resolve by relentlessly finding ways to customize financial resolution packages.

BFS provides a menu of options to borrowers, counseling them through highly-skilled mortgage Account Specialists. Borrowers who have cash,liquid assets, or have access to formal or informal lenders usually opt for a highly discounted pay-off. Borrowers who have no access to cash but with the capacity to pay by installment prefer in-house refinancing. Borrowers sometimes voluntarily surrender their property through dacion if they cannot manage financially and have the option to swap into smaller, more affordable properties selected from BFS’ property inventory. By surrendering their property, they not only resolve their debt obligations but also protect their credit rating in the process.

Unknown to many, BFS has a special cases window which addresses the needs of its highly marginalized customers. “Rather than see people lose their homes through foreclosure, we counsel them and help them arrive at the best settlement arrangement so that they can keep their homes,” says president Federico Y. Cadiz Jr.

BFS, the premier special assets management and mortgage servicing company, has been resolving the 52,000 loan accounts of Balikatan Housing since 2005. In the process, it has fulfilled the dreams of permanent homeownership for thousands of Filipinos.