Over 800 NHC Mortgages out of 1800 are in Default Status
By: Chaïra Flanders
More than 800 NHC mortgages out of a total of 1800 are currently in default status.
This means that late payments on mortgages have far exceeded the delinquency stage.
This was revealed by NHC Board Secretary Candice Caines-Dickenson who was at the time addressing concerns of the National Housing Corporation with co-host, Client and Public Relations Manager at NHC, Jonelle Rawlins during a live Online Delinquency Discussion on Saturday.
“We have over 1800 mortgages on our books and unfortunately over 800 of those are in default status, which means in a regular banking system or mortgage relationship, the owners or the banks or financial institutions would have some right to foreclose on those houses”, she said.
Candice Caines-Dickenson explained that the issue is one of growing concern.
“We are the NHC and we try to work with people because our mandate requires that we provide for our people and we look out for the poor and the indigent but what we are finding is that more and more persons are slowly going into delinquency and into default of their mortgages. One, they’re not coming in and indicating to us that they have a financial issue and they need some kind of consideration and the numbers are growing significantly”
She said that persons who do not pay for their houses hinder the National Housing Corporation’s home supplying advancements.
The Board Secretary used the opportunity to explain that those persons who are deemed delinquent are those who are late a few days, or weeks. However, those whose accounts are in default status have not made payments for months and sometimes years.
Most recently, the NHC introduced ePay which is an online platform to make it easier for homeowners to pay their mortgages and land loans.
The Pay Online feature can be accessed by going to the website www.nhc.kn.