A BFS Account Specialist counsels borrowers On its fifth year, BFS, the country’s only mortgage servicing company in the Philippines commits to deliver unparalleled customer service to enable more Balikatan borrowers to realize the gift of homeownership. It has enabled more than 20,000 borrowers to become legitimate homeowners as of 2011. The company’s main goal has always been to marry its recovery efforts for delinquent loans with the need to help Filipinos settle their long outstanding obligations. BFS offers customized resolution packages so that defaulting borrowers can pay their loans. Since each account holder’s payment history, capacity to pay and loan balance differs, the packages have to be individualized. BFS continues to provide a menu of options which are borrower friendly schemes. Borrowers with cash or have access to formal or informal lenders usually opt for a highly discounted pay-off. Borrowers with no cash but with the capacity to pay by installment prefer in-house refinancing. Sometimes, borrowers voluntarily surrender their property if they cannot manage financially and swap their existing home for a smaller and more affordable unit. In doing so, they resolve their debt obligation and protect their credit rating too. Finally, BFS makes leeway...
Elena Dimabayao(left) receives her TCT from BFS Account Specialist Marc Lexter Bagulbagul BFS continues to make legitimate homeownership possible for Balikatan borrowers such as Elena Dimabayao. Elena is truly thankful that through BFS, she could save her home in Golden City, Sta. Rosa Laguna. Elena narrates that she did not have sufficient funds in the past and defaulted on her monthly housing amortizations. When she got notified that her loan account was part of a portfolio that was transferred to Balikatan Housing, she visited BFS, servicer of the loan accounts. “I just felt happy at the chance to redeem so I made an inquiry and asked about the terms.” BFS, through its highly trained account specialists, explained to Elena her options and facilitated a discounted settlement amount. Elena used up her savings to resolve and is now counted among BFS’ growing list of happy homeowners. Elena shares her experience, “I’m very happy and contented. We really must find a way to save our homes rather than lose it through foreclosure. BFS is truly a great help because it has a very professional team. They have policies but they listen to borrowers too.” BFS, the...
Danilo Isidro (middle) receives his TCT from BFS Account Specialist Marc Lexter Bagulbagul BFS continues to make legitimate homeownership possible for Balikatan borrowers such as Danilo Isidro. Isidro is from Dona Matilda St., Lourdes Heights, Pampanga. The family was badly affected by lahar with Mt. Pinatubo’s eruption in 1991 and could not make good on their mortgage payments. The Isidros decided to coordinate with BFS upon receiving a notice of foreclosure. They were relieved to learn about BFS’ many resolution options and understand how it helps distressed families like them to recover their homes. The Isidros worked out a settlement amount with the help of their account specialist and pooled their collective borrowings. “We realized how important it was to monitor our housing loan because it is an investment. Our Account Specialist assisted us every step of the way to come to a resolution. There’s pressure with every follow-up which helped us in the end. Thank you BFS,” concludes Isidro. BFS, the premiere 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 homeownership for...
Gladys Nonato(left) receives her TCT from BFS Account Specialist Michelle De Guia Gladys Nonato decided to assume the loan for a property in Golden City Subd III, Bo Dolores, Taytay, Rizal. The loan account was part of a highly distressed portfolio now serviced by BFS. She felt that the property was perfect for her growing family and that they could qualify as assumers since she and her spouse were both gainfully employed. “Tumawag kami sa BFS at nakipag-communicate nung matanggap ang Notice of Assignment. (We called BFS and communicated with them when we got a Notice of Assignment.) It took us a while to appreciate the options and to determine what kind of payment terms work for us.” When a negotiated settlement amount was approved, Gladys decided to borrow additional funds to settle. Because BFS facilitated things, Gladys now holds the title to her home, and is happy. “Matiyaga ang AS namin, mabilis sumagot at napabayad ako. (Our AS is very patient, quick to respond and convinced me to settle.) I’m very thankful that my account specialist did not give up on us. Now, we own our home.” BFS, the premiere special assets management and mortgage...
Manuela Gutierrez (right) receives her TCT from BFS Account Specialist Racquel Buenaventura Manuela Gutierrez and her spouse are both teachers at the Nueva Ecija University of Science and Technology in Cabanatuan City. They live in a modest home in Bo. San Roque Gapan, Nueva Ecija with their three children. They also take care of the medical needs of aging parents and could not keep up with their mortgage obligations. Fortunately, Manuela’s loan was included in a portfolio turned over to BFS for servicing. BFS contacted Manuela, apprised her about her loan as well as the resolution options. “I went to BFS four times before deciding that I had to settle one way or the other. So I asked help from family and friends. I’m quite happy now that the loan is settled at a significantly lower price. We must honor our mortgage obligations and not enter into something unless we are sure of our finances.” The Gutierrezes realized that BFS is a partner in homeownership. “The constant reminders and the very professional way of accommodating us helped. They truly understood my situation. Maraming Salamat sa BFS,” Manuela ends. BFS, the premiere special assets management...
BFS’ new platform of communication called the B-ONLINE Customer Service Desk was in response to the need of BFS clients for a quick, convenient and real-time means of clarifying various issues and concerns about their existing accounts. As the premier special assets management and mortgage servicing company, BFS services both performing and non-performing loans including the Balikatan portfolio with over 52, 000 accounts nationwide. The company’s past efforts of reaching out to clients included setting up offices in provinces, conducting field visits and a communications campaign through post, landline and mobile phones, SMS messages and emails. “We realize that some of our customers do not always have the time and money to bridge the physical distance to see us face to face in our offices. Some are even working abroad as OFWs and it would be too costly for them to reach us to ask questions. BFS wants to make it more convenient for them. Now, all that they have to do is to look for a computer with internet access and possibly, with a webcam, so that they can talk to us in real time,” says Ms. Juno Henares, BFS Corporate Communication Head. Through its online...
Masayang tinanggap ni Gng Zenaida Micarte, maybahay ni G. Joel Micarte, ang kanyang TCT mula kay BFS Account Specialist Irwin Aton Si Joel Micarte ay isa lamang sa libu-libong natulungan ng BFS na maging lehitimong may-ari ng kanyang bahay at lupa sa Roseville Subd., Lanang, Davao City. Lima ang anak ni Joel at lahat ay pawang mga nag-aaral pa kaya kapos ang kanyang kinikita bilang fork lift operator para matugunan ang kanyang mga obligasyon. Napabayaan ni Joel ang pagbabayad sa kanyang bahay at lupa. Hindi niya naisip na maaring tuluyang mawala ang hinuhulugang bahay isang araw. Mabuti na lamang at nailipat ang kanyang account sa BFS noong 2005 at nagkaroon si Joel ng panibagong pagkakataon para ayusin ang kanyang problema sa bahay. Sa pakikipagtulungan sa BFS, naipaliwanag nang mabuti ng kanyang Account Specialist ang mga produktong pang-resolusyon na naaayon sa kanyang kakayahang pinansyal. Kinailangan ni Joel na lumapit sa kanyang mga kamag-anak para humingi ng tulong. “Masaya ako. Dapat magbayad talaga ng utang. Natuwa kami dahil napunta sa BFS ang aming account at nakaya naming bayaran. Wala na po akong masabi kundi maraming maraming salamat sa tulong ninyo at sa wakas, napasaamin na ang bahay...
The Diaz family was glad to receive their TCT from a BFS Account Specialist 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 homeownership for thousands of Filipinos. Most Filipinos see homeownership as the realization of a dream. The same holds true for thousands of Balikatan borrowers who have defaulted on their loans for an average of at least 10 years. BFS understands the dream and goes through such lengths to make legitimate homeownership possible. “We understand that people become emotionally attached to their homes. As much as we can, depending on the case, we extend substantial discounts. Foreclosure is always a last resort and the least preferred option. But rather than see people lose their homes through foreclosure, we counsel them and help them arrive at the best settlement arrangement. Of course, the onus is always on the part of the borrower, to show sufficient proof that he or she is really in dire financial need,” says President Federico Y. Cadiz Jr. In the last five years, BFS resolved the accounts of thousands of...
BFS Account Specialists work day and night for borrowers to realize homeownership 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 homeownership for thousands of Filipinos. BFS continues to assist Balikatan borrowers to become legitimate owners of their homes. It recently offered a special offer for cash settlements for thousands of qualified account holders throughout the country. This is to continue the company’s 100% Penalty Condonation and up to 100% Interest Condonation where BFS’ proposed settlement amounts are lower than provided by the law. The special offer was well received as borrowers from Cavite, Bulacan, Laguna, Rizal, Bacolod, Davao, and Cagayan de Oro came to settle their loan obligations. Mr. Ibrahim Dianalan of Barangay Cugman, Cagayan De Oro City, a Balikatan borrower wrote, “My family appreciates your humanitarian favor selecting us to be one of the beneficiaries of your Bahay Condonation Special promo offer and lowering our housing loan balance.” Balikatan accountholders may visit any of the BFS offices in Makati, Alabang, and Davao. They may also call the following hotlines: 750-3888 (Metro...
Ang BFS ay ang pangunahing special assets management and mortgage servicing company na tumutulong ayusin ang 52,000 loan accounts ng Balikatan Housing magmula 2005. Katuwang ang BFS upang maisakatuparan ang pangarap sa pabahay ng libu-libong mga Pilipino. Si Yolanda Tiongco ay taga-Carmela Valley Homes, Talisay City, Negros Occidental. Gaya ng iba, huminto siyang magbayad ng utang sa bahay nang mawalan ng trabaho ang kanyang asawa. Hindi niya naisip na maaring mawala ang pangarap na bahay isang araw. Mabuti na lamang at nailipat sa BFS ang kanyang account at nagkaroon si Yolanda ng panibagong pagkakataon para ayusin ang kanyang problema sa bahay. Sa pakikipagtulungan sa BFS, naipaliwanag nang mabuti ng kanyang Account Specialist ang mga produktong pang-resolusyon na naaayon sa kanyang kakayahang pinansyal. Kinailangan ni Yolanda na lumapit sa kanyang mga kamag-anak para humingi ng tulong. “Kinausap ko yung mga kapatid ko na may kakayahan. May mga kapatid ako na nagtatrabaho sa ibang bansa.” Naunawaan ni Yolanda na katuwang ang BFS upang lehitimong mapasakanya ang kanyang bahay. Masaya siya at nagpapasalamat sa diskwentong naibigay ng kumpanya. “Malaki po ang naitulong ng BFS. Nagawa ko ang transaksyon sa pamamagitan ng bangko. Nakaiwas po ako sa malaking gastusin. BFS...
