Mortgage plan failure leaves PM 'disappointed'

By DANA SMITH

Tribune Staff Reporter

dsmith@tribunemedia.net

PRIME Minister Perry Christie admitted yesterday he is “disappointed” with the way the government’s Mortgage Relief Plan has panned out – with not a single qualified home-owner receiving assistance.

His comments came just one day after State Minister of Finance Michael Halkitis was reported as saying the plan had yet to benefit any distressed home-owner.

When the plan was introduced last September there were reportedly around 4,000 home-owners in arrears – though Mr Halkitis later said that number had been lowered to around 1,000. The government had allocated $10 million to the plan, which was a key campaign promise listed in its Charter of Governance.

According to The Tribune’s records, as of November 2012, 414 requests for assistance were received with around 139 of them fulfilling the requirements. Another 275 were still being processed.

“Yes, I am disappointed,” Mr Christie said. “We’ve had a lot of preparation leading into this, the banks have sort of made adjustments themselves to try to keep their clientèle by giving greater allowances to people who are in default. And so, I think the programme has been a catalyst for things happening in the private sector.

“But with respect to the programme itself, I had anticipated myself the 400 who are qualified for assistance would have received it from us – so I’m disappointed two-fold really.”

Mr Christie said he is planning to get “personally involved” to see what can be done, moving forward, and he is meeting with “professionals in the private sector” and bank leaders in that regard.

“Nothing can happen unless it’s done in collaboration with the banks,” the prime minister said.

“The people who were advising us and helping us prior to the elections, when we were in discussions with the bank – these are professionals in the private sector – we’re meeting with them as well as with the leaders of the banks, who we’ve discussed matters with, to see how we can advance ourselves in that regard.

“And that’s where we are. Because at the end of the day, it’s about getting people the relief and so when Mr Halkitis made the point that the banks made adjustments and many more people who are in default have saved their houses, we have to be able to thank the banks for that being done.

“What happens now will depend on the success of the consultations that are going to take place. We’ll keep everyone informed on it.”

Following Mr Halkitis’s comments the plan hasn’t helped any home-owner yet, Dr Duane Sands – former FNM senator and former Bahamas Mortgage Corporation chairman – branded the government plan, “bogus from the beginning.”

“It was never intended to be possible to implement this plan,” he said. “This was pure public relations.

“We thought this plan was bogus from the beginning and we can see now that no one was helped. It helped them get elected. A lot of people hoped this was real.”

Comments

hj says...

PGC is disappointed. Aren't we all?

Posted 17 April 2013, 12:58 p.m. Suggest removal

B_I_D___ says...

Not necessarily disappointed, but I can tell you I sure as heck was not surprised...the blind leading the blind, the populace are way more stupid then people give them credit for in believing anything the PLP has to say or promise. Baffle them with bull$#!* and they will vote you in.

Posted 17 April 2013, 1:06 p.m. Suggest removal

hj says...

Could not agree with you more. How people could believe the same lies over and over is beyond me.

Posted 17 April 2013, 1:13 p.m. Suggest removal

tonymontana says...

PGC and the PLP should be put on trial, for such a bold face lie, in any other country anywhere in the world leaders would have had to resign for making such bold face lies . not one single person was helped , the only person benitting from this bold face lie was the plp.

Posted 17 April 2013, 1:08 p.m. Suggest removal

PKMShack says...

I agree with it all. They keep swinging the blind, but they all can see...they got what they voted for

Posted 17 April 2013, 1:57 p.m. Suggest removal

Shirley says...

The guidelines set out were designed to ensure nobody qualified. No surprise here.

Posted 17 April 2013, 2:02 p.m. Suggest removal

TalRussell says...

This comment was removed by the site staff for violation of the usage agreement.

Posted 17 April 2013, 2:07 p.m.

TalRussell says...

Oops Tribune wrong post.above can you please remove for me. Will re post to proper topic.

Posted 17 April 2013, 2:38 p.m. Suggest removal

PKMShack says...

To smart for yourself .......lol , just edit it Tal and delete it yourself. Edit and back space.

Posted 17 April 2013, 2:51 p.m. Suggest removal

stillwaters says...

Oh, Lord!!! The PM is 'surprised' again!!! How many surprises can one old 70 year old heart take? PM, you need to keep up to date with what's going on n the country, so you are not so surprised, unaware, or bloody confused about these things!!!!!! Hell!!!!!!

Posted 17 April 2013, 3:15 p.m. Suggest removal

maryann says...

This man is unaware of all the issues in this country

Posted 17 April 2013, 8:04 p.m. Suggest removal

proudloudandfnm says...

SO that makes it official now right? Not one single promise the PLP made has been kept. NOT ONE! We cannot let them forget this, our next campaign has to be don't buy PLP lies, they're promises are pure blatant lies. I hope all PLP supporters are taking note. The FNM may not be perfect but they are a damn sight better at everything than the PLP. Next election it's FNM or die! No more DNA nonsense, the DNA cannot win a GE, it's either PLP or FNM. DO the right thing Bahamas, never let his PLP in power ever again. Everyone of them has to be shut out, even their young up and comers need to be blacklisted for decades to come.

Posted 17 April 2013, 3:19 p.m. Suggest removal

proudloudandfnm says...

DO you think PGC knows he is the worst PM in our history? I could never live like that, how does this man sleep at night knowing he is the bottom of the pile? Mr. Christie, do you have a genuine bone in your body? DO you not want to be known at the very least as a man who tried? Do you honestly see yourself as a good leader? Because sir you are not. You are the absolute worst possible choice this country could have made...

Posted 17 April 2013, 3:21 p.m. Suggest removal

pilgrimagerock says...

The PLP voters are disappointed not PGC. He could care less.

Posted 17 April 2013, 7:38 p.m. Suggest removal

bismark says...

The Banks are in business to make money,not to lose it,i don't know how in hell the government could expect the Banks to write off so much interest!As for some Bahamians,they might honestly need help,but some off them can pay their mortages,they just wont pay it,they are doing everything else; new car,vacations,school fees etc,they have money for what they want it for,typical freeloading suckers always want something for nothing.

Posted 18 April 2013, 9:30 a.m. Suggest removal

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