Finally someone has used Central Bank data to reverse engineer mortgage process what the target market to benefit most Bahamian can qualify for and with a good chance to succeed to own a home. Reducing Govt Bahamian owned land value and reducing materials cost sacrificing Stamp duty to fit customers capability.
Govt officials knowing the data to qualify should now investigate how in the world 4,000 plus mortgage accounts ...( usually joint two or more persons income to qualify 8,000 Bahamians?) went bad tying up extraordinaroly some 1 billion il bad debt loans!! Recent allleged stories in press over alleged money laundering in a number of banks has data extrapolated on mortgage payment in excess of 45% plus another article case involves customer with 10k to deposit sold 10 separate accounts so bank officer can get a point for each account!!
Billion dollar bad debt cannot be all blamed on the customers and invrstigations are needed now that govt has shown its hand and knowledge what it takes to succeed!!
Given that the qualifying data to succeed and that the sharp reductions in land value and stamp duty are made at the sacrifice of the Bahamian public, then it is only necessary that the Bahamas Mortgage Corporation be finded to have the exclusive and sole right to have these loans and finally turn a profit!! Let the sacrifices and sweat of the Bahamian people benefit the Bahamian Mortgage Corporation!!!
......possibly class action lawsuits by residents surrounding shantytown for any illnesses.....but feels fairly confident Dr. Minnis genuinely wants to give qualified Bahamians to achieve home ownership. Given average starting salary of $18,000 and mortgage loan debt service ratio of 45% of monthly salary 18,000/12= $1,500 then 45%= $675. For loan payment NIB ETC reverse amortize 675 less legal commitments at say 5%interest should give reasonable pricing of affordable land provided the financier has a duty of care for client to survive etcetc.....guilty of negligence, dut y of care and acting in good faith if loan officer or bank approves loan knowing that it will fail. ....then fraud examination and jail....Each must be examined stress tested to see if applicant is telling truth etcetc simple math.....and if second income needed, or deed of guarantees if cannot fit must acquit with denied. Must not force a loan through to meet bonus or salary increase by loan institution.
300m investment for 2m is less roi on a Fixed Deposit $1,000 over 1 year!!! .......point 6% 300m investment for assets worth 75m? Cause some of those valuations of those mansions, business in resolve aint worth the price. 167.7 more by the govt for assets worth even less. Google Bank of thr Bahamas James Smith. The former Central Bank Governor at least knows his numbers. Investigations needed to see how these enormous loans and others were given that failed...moreso investigate those applications that were denied etcetc. Must not be using the peoples vat money and taxes to support these failures without investigations.....including NIB monies into This bank......especially when people are on the soup lone in freeport...plus charity groups are collecting to feed bahamians......
What good are the cameras ....never seen a camera ever arrest anyone....what good if no homeowners are ever approached and charged with harbouring persons who have broken the law? ...or visiting any areas where they are employed?.....or the innerccity areas where they live?...or going through any shantytowns?....mind you they are do clever that in past photos the women always come out with babies in their hands and stall the officers.?.. The best and obvious use of the cameras would be to have the officers stand by the harbour entrance of the Defence Force base in facing the sea to spot these sailboats.....
...almost always when the land becomes overgrown a tractor, payloader more economical is called in to clear the brushes which bushwackers cannot remove small trees and almost always the tractor operator ppushes the debris inck markers over the boundary line if the other neighbour or govt is not looking. .....Bey na waste time ....why na why not put in fer a piece a cheap lan....Cann hurt fer trying ..fore dawg eat ya lunch....talk to ya homeboy .....use ya hookup...talk to ya MP....give it a try an see if you can get strait wid ya MP an piece a govt lan.
....with 28 boarders costing the Public Hospital more than $15,000 per day is an average of $536. per person daily. Something does not seem right ....7 miĺion per year.?.... and should have been urgently corrected..... At the rate of 7,000,000. Per year each of the 28 boatders could have each bought a 3/2 bed bath home costing $250,000......much worse is the fact that 28 really ill persons are deprived of the use of that facility.....
These are the same financial genuises who see nothing wrong for continuously pouring hundreds of millions into govt entities without seeing it appears anyting wrong....just look at the Bank of the Bahamas where some 300 million went to pay for assets worth less than a third, and operated for years without meeting international bank rules to operate as a bank in the same market as others following the rules,.....look at the Exuma case years ago where friends with connection in a Ministry each bought beachfront land for retirement homes from the govt for around 2,000 and promptly resold it for around 750,000. but PM Ingraham fired the govt employee.....
Guardian article 27 July 2011 'Housing Minister seeks to clarify Mackey Yard Policy' by Juan MacCartney Article says policy with both govts and land value without sewer system around $5,000. ........ As for conveyances many conveyances sre in chain of title docs as Deed of Gifts where its was around $1. conveyed love and affection, there should be deeds of Equity of Redemption in the system for small sums etcetc..the govt has blocked this loophole I believe for persons ducking taxes...one large loophole existed in merging companies as equals and then one buying out the other...challenges now in Abaco over valuations for RPT....under or over valuing properties is always a problem . You have Appraisers who been to school gor 4 years and you have Real Rstate Salespersons with qualifications in Appraisals on valuing properties...
The Nassau Guardian 15 July, 2011 'Housing Minister denies land Giveaway' lots at 3.40 per sq foot 15 or so paragraphs down....17,000 forf lots 5,000 sq ft Also see bshamasnational. com 13 February, 2018.....lots at 3.40 per sq ft Today govt can offer lots at under 30k or any price they choose to assist those in need. Id rather see organized construction on shamtytown land than unchecked breaking of building codes latrines and wastes, biohazard illegal medicals??diseases,, toxic chemocals waste oils engine, transmission, getting into the water table, electricsl hazards, fire hazards, rtc that costs. While they are a hazard to themselves they are a much greater hazard to the large surrounding population of unsuspecting Citizens who pay and follpw the legsl codes. All latrine wastes are in the ground water and dropping 2 chlorine tabs in well only has themm sticking in the mud while you brush your teet wid pump water. On the sizes of lots perhaps what yhe govt can do os to make the lots 25x 100 and hou need at least 2 lots or persons can buy 3 lots, I believe this was tried before in Pinewood or Nassau Village. Suitable designs are necessary so that everyone benefits with safety and prices going up for all.
bogart says...
Finally someone has used Central Bank data to reverse engineer mortgage process what the target market to benefit most Bahamian can qualify for and with a good chance to succeed to own a home.
Reducing Govt Bahamian owned land value and reducing materials cost sacrificing Stamp duty to fit customers capability.
Govt officials knowing the data to qualify should now investigate how in the world 4,000 plus mortgage accounts ...( usually joint two or more persons income to qualify 8,000 Bahamians?) went bad tying up extraordinaroly some 1 billion il bad debt loans!!
Recent allleged stories in press over alleged money laundering in a number of banks has data extrapolated on mortgage payment in excess of 45% plus another article case involves customer with 10k to deposit sold 10 separate accounts so bank officer can get a point for each account!!
Billion dollar bad debt cannot be all blamed on the customers and invrstigations are needed now that govt has shown its hand and knowledge what it takes to succeed!!
Given that the qualifying data to succeed and that the sharp reductions in land value and stamp duty are made at the sacrifice of the Bahamian public, then it is only necessary that the Bahamas Mortgage Corporation be finded to have the exclusive and sole right to have these loans and finally turn a profit!!
Let the sacrifices and sweat of the Bahamian people benefit the Bahamian Mortgage Corporation!!!
On Building plots to cost below $30k
Posted 16 February 2018, 12:55 p.m. Suggest removal
bogart says...
......possibly class action lawsuits by residents surrounding shantytown for any illnesses.....but feels fairly confident Dr. Minnis genuinely wants to give qualified Bahamians to achieve home ownership.
Given average starting salary of $18,000 and mortgage loan debt service ratio of 45% of monthly salary 18,000/12= $1,500 then 45%= $675. For loan payment NIB ETC reverse amortize 675 less legal commitments at say 5%interest should give reasonable pricing of affordable land provided the financier has a duty of care for client to survive etcetc.....guilty of negligence, dut y of care and acting in good faith if loan officer or bank approves loan knowing that it will fail. ....then fraud examination and jail....Each must be examined stress tested to see if applicant is telling truth etcetc simple math.....and if second income needed, or deed of guarantees if cannot fit must acquit with denied. Must not force a loan through to meet bonus or salary increase by loan institution.
On Building plots to cost below $30k
Posted 15 February 2018, 7:50 p.m. Suggest removal
bogart says...
300m investment for 2m is less roi on a Fixed Deposit $1,000 over 1 year!!! .......point 6%
300m investment for assets worth 75m? Cause some of those valuations of those mansions, business in resolve aint worth the price.
167.7 more by the govt for assets worth even less. Google Bank of thr Bahamas James Smith.
The former Central Bank Governor at least knows his numbers.
Investigations needed to see how these enormous loans and others were given that failed...moreso investigate those applications that were denied etcetc. Must not be using the peoples vat money and taxes to support these failures without investigations.....including NIB monies into This bank......especially when people are on the soup lone in freeport...plus charity groups are collecting to feed bahamians......
On BOB profits near $2m for half-year
Posted 15 February 2018, 6:47 p.m. Suggest removal
bogart says...
100m bailout for Resolve plus 40 m for share rights plis 167m = 307m
Share price fell from 5 dollars to 1 dollar lost in share value 160m??
different board of directors by new government!!!
Investigations needed!!
On BOB profits near $2m for half-year
Posted 15 February 2018, 3:50 p.m. Suggest removal
bogart says...
What good are the cameras ....never seen a camera ever arrest anyone....what good if no homeowners are ever approached and charged with harbouring persons who have broken the law?
...or visiting any areas where they are employed?.....or the innerccity areas where they live?...or going through any shantytowns?....mind you they are do clever that in past photos the women always come out with babies in their hands and stall the officers.?..
The best and obvious use of the cameras would be to have the officers stand by the harbour entrance of the Defence Force base in facing the sea to spot these sailboats.....
On Immigration to trial bodycams
Posted 15 February 2018, 2:32 p.m. Suggest removal
bogart says...
...almost always when the land becomes overgrown a tractor, payloader more economical is called in to clear the brushes which bushwackers cannot remove small trees and almost always the tractor operator ppushes the debris inck markers over the boundary line if the other neighbour or govt is not looking.
.....Bey na waste time ....why na why not put in fer a piece a cheap lan....Cann hurt fer trying ..fore dawg eat ya lunch....talk to ya homeboy .....use ya hookup...talk to ya MP....give it a try an see if you can get strait wid ya MP an piece a govt lan.
On Building plots to cost below $30k
Posted 15 February 2018, 11:04 a.m. Suggest removal
bogart says...
....with 28 boarders costing the Public Hospital more than $15,000 per day is an average of $536. per person daily. Something does not seem right ....7 miĺion per year.?.... and should have been urgently corrected.....
At the rate of 7,000,000. Per year each of the 28 boatders could have each bought a 3/2 bed bath home costing $250,000......much worse is the fact that 28 really ill persons are deprived of the use of that facility.....
On Adoption stall traps Arthur at PMH
Posted 15 February 2018, 10:35 a.m. Suggest removal
bogart says...
These are the same financial genuises who see nothing wrong for continuously pouring hundreds of millions into govt entities without seeing it appears anyting wrong....just look at the Bank of the Bahamas where some 300 million went to pay for assets worth less than a third, and operated for years without meeting international bank rules to operate as a bank in the same market as others following the rules,.....look at the Exuma case years ago where friends with connection in a Ministry each bought beachfront land for retirement homes from the govt for around 2,000 and promptly resold it for around 750,000. but PM Ingraham fired the govt employee.....
On Eight-fold property tax hikes to 'kill' Exuma
Posted 14 February 2018, 7:13 p.m. Suggest removal
bogart says...
Guardian article 27 July 2011 'Housing Minister seeks to clarify Mackey Yard Policy' by Juan MacCartney
Article says policy with both govts and land value without sewer system around $5,000.
........
As for conveyances many conveyances sre in chain of title docs as Deed of Gifts where its was around $1. conveyed love and affection, there should be deeds of Equity of Redemption in the system for small sums etcetc..the govt has blocked this loophole I believe for persons ducking taxes...one large loophole existed in merging companies as equals and then one buying out the other...challenges now in Abaco over valuations for RPT....under or over valuing properties is always a problem . You have Appraisers who been to school gor 4 years and you have Real Rstate Salespersons with qualifications in Appraisals on valuing properties...
On Building plots to cost below $30k
Posted 14 February 2018, 6:29 p.m. Suggest removal
bogart says...
The Nassau Guardian 15 July, 2011 'Housing Minister denies land Giveaway' lots at 3.40 per sq foot
15 or so paragraphs down....17,000 forf lots 5,000 sq ft
Also see bshamasnational. com 13 February, 2018.....lots at 3.40 per sq ft
Today govt can offer lots at under 30k or any price they choose to assist those in need. Id rather see organized construction on shamtytown land than unchecked breaking of building codes latrines and wastes, biohazard illegal medicals??diseases,, toxic chemocals waste oils engine, transmission, getting into the water table, electricsl hazards, fire hazards, rtc that costs. While they are a hazard to themselves they are a much greater hazard to the large surrounding population of unsuspecting Citizens who pay and follpw the legsl codes. All latrine wastes are in the ground water and dropping 2 chlorine tabs in well only has themm sticking in the mud while you brush your teet wid pump water.
On the sizes of lots perhaps what yhe govt can do os to make the lots 25x 100 and hou need at least 2 lots or persons can buy 3 lots, I believe this was tried before in Pinewood or Nassau Village. Suitable designs are necessary so that everyone benefits with safety and prices going up for all.
On Building plots to cost below $30k
Posted 14 February 2018, 3:24 p.m. Suggest removal