Sunday, January 21, 2018

Last HDC distribution for 2017*

‘Pay your mortgage’

happy family: Minister of Housing Randall Mitchell, second from left, and Housing Development Corporation Managing Director Brent Lyons, right, pose for a photo after presenting Saik and Asha Mohammed along with their children, six-year -old Cristina, Aidan, 4, and Jaedon, 2, with their package to their new home during a Housing Distribution Ceremony held at National Academy for the Performing Arts, Port of Spain yesterday. —Photo: ISHMAEL SALANDY

HOUSING Minister Randall Mitchell says the Ministry is hoping to prevent mortgage arrears from occurring by not offering new homeowners the keys to their units before they settle all their mortgage arrangements. “It’s not just about going after the arrears but ensuring the arrears don’t occur. In the past when they (homeowners) received keys and are put on this LTO (Licence to Occupy) arrangement and they are allowed to go on their own time to settle all the mortgage arrangements...some of them would have incurred significant debt by taking loans to buy vehicles, to buy other things. 

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