Authorities have trouble collecting from Inner City Housing Project mortgageesThe National Housing Trust (NHT) is admitting that the rate of arrears involving recipients of the Government's Inner City Housing Project is above normal.
The issue was brought to national attention on Tuesday by Opposition Spokesman on Finance, Audley Shaw, during his Budget Presentation.
Mr. Shaw expressed alarm at what he said was the high rate of arrears as many persons who received houses in inner city communities are struggling to meet the obligations of their mortage.
Wednesday the Managing Director of the NHT, Earl Samuels, disclosed that the rate of arrears in close to 40 per cent.
He said the Housing Trust is cognizant of the fact that the Inner City Housing Project is a high risk scheme and has put measures in place to minimise the level of arrears.
Mr. Samuels says the NHT has been encouraging flexible payment plans for persons facing difficulties in paying their mortgage.
The issue was brought to national attention on Tuesday by Opposition Spokesman on Finance, Audley Shaw, during his Budget Presentation.
Mr. Shaw expressed alarm at what he said was the high rate of arrears as many persons who received houses in inner city communities are struggling to meet the obligations of their mortage.
Wednesday the Managing Director of the NHT, Earl Samuels, disclosed that the rate of arrears in close to 40 per cent.
He said the Housing Trust is cognizant of the fact that the Inner City Housing Project is a high risk scheme and has put measures in place to minimise the level of arrears.
Mr. Samuels says the NHT has been encouraging flexible payment plans for persons facing difficulties in paying their mortgage.
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