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Delinquent housing loan borrowers get extended reprieve from lender

Bahay Financial Services Inc. (BFS) extended its loan condonation and restructuring program in continuing its effort 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. This is what the extended Panalo Max Offer represents – a ‘helping hand’ extended by BFS in realizing our borrowers’ dreams of homeownership,” explained Juno Henares-Chuidian, head of Corporate Communication.
To date, the response for the Panalo Max Offer has been positive with thousands of borrowers resolving their accounts which included Balikatan borrowers who were based abroad as overseas Filipino workers.
In spite of its past success, BFS urges qualified Balikatan accountholders to resolve their accounts earlier since the foreclosure process does not stop until and unless they enter into a loan settlement agreement with Balikatan.
The extended Panalo Max Offer runs up to Sept. 23.
In the past seven years, BFS has constantly tried to reach its borrowers in efforts to encourage them to avail of its affordable condonation programs.
The company has created a number of channels its dedicated account specialists can use to communicate to clients.
Past efforts have used letters, phone calls, SMS, B-Online (an online video counselling service), including door-to-door visits to key areas such as Metro Manila, Cavite, Bulacan, Laguna, Rizal, Batangas, Bataan, Pampanga, General Santos, Davao, Cagayan de Oro, Bacolod and Iloilo.
Since BFS took over the highly-delinquent portfolio from the National Home Mortgage Finance Corp. in 2006, thousands of Filipino families throughout the country were assisted to fully resolve their long outstanding and overdue loan obligations.

6 comments

  • RHEA O.LEGARIA

    GOOD DAY SIR/MAAM, I AM INTERESTED TO KNOW ABOUT THIS HOUSE AND LOT HERE IN BUTUAN CITY, BLOCK 31 LOT 14 EMELY HOMES BUTUAN CITY.IS THIS PROPERTY STILL AVAILABLE? MAY I KNOW MUCH IS THE OUTSTANDING BALANCE IS? I WANT TO KNOW THE TERMS AND CONDITIONS ABOUT THIS MATTER. THANK YOU AND I APPRECIATE YOUR IMMEDIATE RESPONCE.

    RHEA O.LEGARIA Monday, 10 March 2014 20:18 Comment Link
  • RHEA O.LEGARIA

    GOOD DAY SIR/MAAM, I AM INTERESTED TO KNOW ABOUT THIS HOUSE AND LOT HERE IN BUTUAN CITY, BLOCK 31 LOT 14 EMELY HOMES BUTUAN CITY.IS THIS PROPERTY STILL AVAILABLE? MAY I KNOW MUCH IS THE OUTSTANDING BALANCE IS? I WANT TO KNOW THE TERMS AND CONDITIONS ABOUT THIS MATTER. THANK YOU AND I APPRECIATE YOUR IMMEDIATE RESPONCE.

    RHEA O.LEGARIA Monday, 10 March 2014 20:15 Comment Link
  • RHEA O.LEGARIA

    GOOD DAY SIR/MAAM, I AM INTERESTED TO KNOW ABOUT THIS HOUSE AND LOT HERE IN BUTUAN CITY, BLOCK 31 LOT 14 EMELY HOMES BUTUAN CITY.IS THIS PROPERTY STILL AVAILABLE? MAY I KNOW MUCH IS THE OUTSTANDING BALANCE IS? I WANT TO KNOW THE TERMS AND CONDITIONS ABOUT THIS MATTER. THANK YOU AND I APPRECIATE YOUR IMMEDIATE RESPONCE.

    RHEA O.LEGARIA Monday, 10 March 2014 20:12 Comment Link
  • Silveria L. Berango

    My neighboring house and lot (Lot A-3-I-G) at El Real Compound, Real,Calamba City has been sheriffed and vacated by the original owner. I am interested in the property. May I know how much is the outstanding loan balance, the terms and conditions and the requirements for its acquisition.

    I shall appreciate your immediate reply.

    Silveria L. Berango Thursday, 06 March 2014 16:35 Comment Link
  • Silveria L. Berango

    My neighboring house and lot (Lot A-3-I-G) at El Real Compound, Real,Calamba City has been sheriffed and vacated by the original owner. I am interested in the property. May I know how much is the outstanding loan balance, the terms and conditions and the requirements for its acquisition.

    I shall appreciate your immediate reply.

    Silveria L. Berango Thursday, 06 March 2014 16:34 Comment Link
  • Silveria L. Berango

    My neighboring house and lot (Lot A-3-I-G) at El Real Compound, Real,Calamba City has been sheriffed and vacated by the original owner. I am interested in the property. May I know how much is the outstanding loan balance, the terms and conditions and the requirements for its acquisition.

    I shall appreciate your immediate reply.

    Silveria L. Berango Thursday, 06 March 2014 16:33 Comment Link

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