Recently we told you about Central Government’s newest program to reimburse Belizeans for their December 2014 interest and principal payments on all residential mortgages with an original value of up to BZE$ 100,000. Through the Residential Mortgage Payment Program, borrowers from the National Bank, Commercial Banks, Credit Unions, the Development Finance Corporation and the Belize Social Security Board can apply for assistance. So how is that playing out? Prime Minister Dean Barrow says despite some complaints about the process, once you apply there is a good chance to benefit from the program and while the deadline to hand in applications had been indicated as this year December, it seems government is extending that.
Honorable Dean Barrow- Prime Minister
“I will make the point though that this is not because they compared it with the CXC’s there you had to submitted the application and be approved by a certain time because fees had to be paid but with the mortgage program no man if they want to; remember we said to them you pay the institution we simply give you back the money so if they don’t get in the application in December and they want to get in January or February we will simply once it is authenticated that is so much you paid for your monthly repayment in December we will give you back the money.”
Payments will be made directly to the qualified borrower. Completed forms should be submitted to any District Sub-Treasury or the Treasury Department in Belize City as soon as possible but no later than December 31st, 2014.
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