There will never be a shortage of interesting stories about life at sea for Filipino seafarers.

Recently, the story of a group of Filipino seafarers forced to take their captain hostage while on board a fishing vessel made it to the news. Their gruesome ordeal had all the elements of a tragedy.

But not everything about a seafarer’s life ends in tragedy. There are also many stories of joy, fulfillment and hope.

For Carmelito “Lolong” Yecyec, a seafarer who rose from the ranks to become an officer in an international cargo ship, all that was the result of hard work and the right opportunities. Two decades of sailing gave him experiences forever etched in his heart and mind.

He remembers going to his four-hour duty on alternate 12-hour shifts with no day off; working and adjusting with colleagues from various countries; sailing through rough seas in stormy weather. “Encountering storms at sea is one of the most difficult parts of my job. I could not sleep,” Lolong said.

He also recalled how sad it was to see endless water and waves every time their ship traveled longer than three weeks without docking.

Fiercest enemy

Homesickness was his fiercest enemy, but he learned patience and courage as thoughts of his family motivated him. “I was willing to sacrifice and endure difficulties at sea for my family. I have two children and knowing that every cent I remitted at home helped ensure a better future for them was enough incentive for me to work harder,” he said.

Lolong’s youngest child, Shaira will finish elementary at the end of this school year.

“It also feels good to know that I am part of the overseas Filipino sector which helps keep our economy afloat,” he said.

The contribution of remittances sent by Filipinos overseas not only to their respective families but to the Philippine economy cannot be overemphasized.

Data show overseas Filipino remittances have contributed 10 percent to the country’s Gross National Product.

According to Bangko Sentral ng Pilipinas, remittances from Filipinos abroad through formal channels from January to November 2007 amounted to P13 billion, or 14 percent higher compared than the total posted during the same period in 2006. Of this amount, P2 billion came from sea-based workers.

Many Filipinos are enticed to work aboard international ships not only for the relatively high salaries that shipping companies offer but also because of the opportunity to travel worldwide.

But his sea adventure came to an end when he retired last year due to an illness. Fortunately, his employer and insurance firm shouldered his medical expenses, including those for a kidney transplant. His hardship did not go to waste since he disembarked from his ship with his retirement package intact.

With his retirement, Lolong thought of finally providing his family with the gift of expanded home ownership. He and his wife settled their remaining loan balance for their house and searched for an additional property.

Asset managing firm

Upon learning that one of the housing units near his house in Dasmariñas, Cavite was for sale through Bahay Financial Services, an asset management and mortgage servicing company, Lolong immediately contacted its Property Operations and Sales Group. He was pleasantly surprised to learn that their offer was very affordable and reasonable. “BFS gave my family a chance to realize our dream of securing a bigger space for our home. This is the fruit of the long and challenging years that I spent at sea.”

Formally launched in 2006, BFS offers a complete mortgage servicing platform that combines functional competencies in mortgage finance, loan origination, credit underwriting, loan servicing, default management, property management and secondary market development.

Under BFS’ property sales program, pre-owned housing units in attractive locations are offered to homebuyers who either want to secure a home for their families or make real estate investments in starter homes. A wide range of properties nationwide, particularly in the National Capital Region and the Calabarzon areas, is available with flexible financing.

Lolong is glad he was able to put his hard-earned money into worthwhile investments. Besides real estate, he also invests in items to serve as his source of income. Now that he has retired, he’s thankful that his taxi cabs and retail store continuously support the needs of his family.

Real estate growth

He noted that many of his colleagues also have realized the importance of having investments. “A lot of seafarers are interested to purchase houses and lots, especially those who reside in urban areas and provinces near Metro Manila. Those who are from the provinces usually invest their earnings in rice fields or buy agricultural supplies and equipment. But I heard some of them also buy real estate properties,” he said.

Lolong’s observation is borne out by statistics. Records from the National Statistical and Coordination Board show the real estate sector grew by 22 percent in 2007.

Analysts attest that the growth in the sector was significantly fueled by increased demand for residential properties among overseas Filipinos and their families. Overseas Filipinos accounted for about a third of their housing loan applications or home sales of several property developers and commercial banks.

Home is where the heart is

Lolong will never run out of stories to share from 20 years spent at sea —the storms and other dangers, the long working hours while sailing on seemingly endless oceans, the excitement of disembarking at a port in America, seeing the romantic parks of Europe for the first time, being mystified by the architectures of the world’s grandest cities—the list continues.

Working as a seafarer brought him to some of the world’s most beautiful places. “The perks of being a seaman,” he said, “includes seeing different countries. They are all nice places although sometimes they all look the same to me. The Philippines is as beautiful and interesting as all of them.”

Which were the best countries he’s been to? “My modest home in Cavite—our family’s love nest—is still the most beautiful place for me,” he replied. With his current home expansion project in place, Lolong can truly say, “there’s no place like home.”