The Government Mortgage Relief Plan has been announces by the Clearing Banks Association of Bahamas, the association body of Clearing Banks in the Bahamas (see video below).
The mortgage relief plan is a jointly agreed to plan by the Government of the Commonwealth of The Bahamas and the member banks of the Clearing Banks Association to bring relief to mortgage holders that are experiencing difficulties with their mortgage.
While it is estimated that there are some 4,000 mortgages currently over 90 days delinquent, the Governments Mortgage Relief Plan, which takes effect September 10th, 2012 is expected to bring relief to between 800 to 1,000 mortgage borrowers.
Nathaniel Beneby, Chairman of the Clearing Banks Association made the announcement during a Press Conference held at Royal Bank House, East Hill Street on Thursday to answer questions from the media concerning the Mortgage Relief Plan.
Nathaniel Beneby announcing Government Mortgage Relief Plan
If you are considering applying for relief than you must make application to the program right away as the plan ends on March 10th 2013 and can only accommodate a limited number of borrowers.
Here are the detail of the Bahamas Government Mortgage Relief Plan Communication and how you can apply for relief.
And should you need help or have questions about the Government Mortgage Relief Plan feel free to call me directly at 1-242-327-2453 or email: email@example.com