Dear Editor,
We write in response to a letter by educatorforlife@outlook.com, published in your newspaper on July 18 in which the writer proposed that the NHT introduce a waiver to assist persons who are unable to service their mortgages due to unemployment.
We advise that NHT has several measures in place to assist mortgagors whose circumstances compromise their ability to make payments both in the short and long term. These include but are not limited to a moratorium on payments of up to 24 months, an extension of the loan term and a reduction in the interest rate. The last two of these measures assist the mortgagor by reducing his/her monthly payments. Further, in verifiable cases of chronic illness or destitution, accounts may be made dormant (charged off) subject to review or they may be written off. Each of the above interventions is made on a case by case basis after the applicant has established that he/she is facing genuine hardship.
We remind our mortgagors that the NHT's primary interest is to enable Jamaicans to enjoy the benefits of homeownership. As such, separation from one's home is an act of last resort. We therefore urge the writer and other mortgagors in dire circumstances to get in touch with the NHT to determine which, if any of the measures may be applicable to their situation.
K Morgan
National Housing Trust
Kingston 5
KMorgan@nht.gov.jm
We write in response to a letter by educatorforlife@outlook.com, published in your newspaper on July 18 in which the writer proposed that the NHT introduce a waiver to assist persons who are unable to service their mortgages due to unemployment.
We advise that NHT has several measures in place to assist mortgagors whose circumstances compromise their ability to make payments both in the short and long term. These include but are not limited to a moratorium on payments of up to 24 months, an extension of the loan term and a reduction in the interest rate. The last two of these measures assist the mortgagor by reducing his/her monthly payments. Further, in verifiable cases of chronic illness or destitution, accounts may be made dormant (charged off) subject to review or they may be written off. Each of the above interventions is made on a case by case basis after the applicant has established that he/she is facing genuine hardship.
We remind our mortgagors that the NHT's primary interest is to enable Jamaicans to enjoy the benefits of homeownership. As such, separation from one's home is an act of last resort. We therefore urge the writer and other mortgagors in dire circumstances to get in touch with the NHT to determine which, if any of the measures may be applicable to their situation.
K Morgan
National Housing Trust
Kingston 5
KMorgan@nht.gov.jm