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#498573 - 12/03/14 09:55 AM How To Get Gov't To Pay Your December Mortgage
Marty Offline
In his Independence Day speech back in September -Prime Minister Dean Barrow promised middle class relief by making mortgage payments for December.

Well, December is here, and today the details of the programme were announced. First of all, not everyone qualifies.

First off, the original value of your mortgage has to be no more than one hundred thousand dollars. Secondly, your loan can be from any of the commercial banks, the national bank, the credit unions, the DFC or Social Security.

Thirdly, only residential mortgages for new home construction will qualify - meaning that mortgages for home improvement do not qualify. And the mortgages must be legally registered.

If you meet these qualifications - then you can apply. Government estimates that there are 7,405 such mortgagors in the country.

So how does it work. Well, the government will pay all qualified borrowers a sum equal to their December mortgage payment. So you pay the bank or credit union, and then government pays you.

How do you do it? Well, the three page forms are available online at the ministry of finance website at mof.gov.bz or you can pick one up at your local treasury office.

Government estimates that the unusual initiative will cost just over 3 million dollars.

Channel 7


Application forms for residential mortgage payment program now available

With government rolling in millions of dollars, at least two hundred and fifty million, in Petrocaribe funds, the Barrow Administration is making on a promise made on Independence Day to offer interest and principal payments for the month of December 2014 to all residential mortgages with an original value of up to one hundred thousand dollars. According to the announcement after today’s cabinet meeting, the criteria to qualify for the program, has been approved. It will apply to all borrowers from the National Bank, the commercial banks, credit unions, the Development Finance Corporation and the Belize Social Security Board. Only residential mortgages for new home construction will qualify and it does not include mortgages for home improvement. Mortgages must be legally registered mortgages.  Application Forms for the Residential Mortgage Payment Program are available at the Treasury Department in Belize City or at any District Sub-Treasury or can be downloaded from the Ministry of Finance website.

Channel 5


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#498585 - 12/03/14 01:40 PM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Katie Valk Offline
Stupid and sinfull
_________________________
Belize based travel specialist
www.belize-trips.com
info@belize-trips.com

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#498601 - 12/03/14 08:33 PM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
dabunk Offline
And unless you are an active supported of the current government your chances are pretty nil. Just another way to fill the pockets of his friends.

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#498672 - 12/05/14 10:38 AM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Marty Offline

Residential Mortgage Payment Program: Frequently Asked Questions

Government of Belize Press Office


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#498855 - 12/10/14 09:54 AM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Marty Offline

PM Says You Can Wait To Get Reimbursed For December Mortgage

Earlier we told you about the VIP Party's protest against what it calls state sponsored political patronage: namely the Christmas Cheer and the Residential Mortgage Payment programme.

But the government calls Christmas Cheer pro-poor, and the mortgage payment program, it calls that middle class relief.

The rules to qualify for that are that the original value of the residential mortgage must be no more than one hundred thousand dollars. Mortgages taken out solely for the purpose of refinancing prior mortgages for the ?construction of new residences will also qualify for the program. And the mortgages must be legally registered.

Those who qualify just have to fill out a two page form and make their monthly payment then government will re-imburse them. Seems simple enough, but the PM says, he has still heard reports of complaints:..

Prime Minister Dean Barrow
"When I came in yesterday from Love FM, they said to me that people are complaining about having to fill in the application form. Well as I said, my goodness man, if you can't even fill in an application form to get the benefit of the program I don't know what else to do. I will make the point though that this is not like...because I compared it with CXCs. There you had to have submitted the application and be approved by a certain time because fees had to be paid. With the mortgage program, no man. Remember, we said to them, you pay the institution and we will simply give you back the money. So if they don't get in their application in December and they want to get in it January or February, we will simply, once it is authenticated that that's how much you paid for your monthly payment in December, we will give you back the money."

Application forms are available at the Treasury Department in Belize or at any District Sub-Treasury office and can also be downloaded from the Ministry of Finance website at mof.gov.bz.

Channel 7


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#498873 - 12/10/14 12:43 PM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Katie Valk Offline
Sin
_________________________
Belize based travel specialist
www.belize-trips.com
info@belize-trips.com

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#498950 - 12/12/14 06:13 PM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Marty Offline
Please be advised that the Ministry of Finance has made some significant revisions to the criteria relating to borrowers who can qualify for the Residential Mortgage Payment Program.

Accordingly, kindly note the links below in relation to the program:

Revised Notice and Application Forms- GOB December 2014 Residential Mortgage Payment Program: http://cdn.gov.bz/mof.gov.bz/images/Noti...0Pmt%20Plan.pdf

Frequently Asked Questions- GOB December 2014 Residential Mortgage Payment Program: http://cdn.gov.bz/mof.gov.bz/images/FAQ_GOB%20Dec%202014%20Residential%20Mortgage%20Pmt%20Plan.pdf

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#499499 - 01/03/15 10:24 AM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Marty Offline

Government Extends Deadline for Mortgage Program

The Residential Mortgage Payment Program was first heard about in September when the Prime Minister announced that the Government would be paying the interest on mortgage loans for the month of December at the various lending institutions for original mortgage loans. As promised, the program was rolled out in December when the announcement was made that those interested in capitalizing on the program should fill out a 2-page form and have the forms forwarded to the Treasury Department. Today, a notice from the Ministry of Finance announced that the deadline to submit the forms has been extended to March 31, 2015 which marks the closing of the fiscal year 2014/2015. It is uncertain what the reasoning behind this announcement was but it does lead to believe that as with the incentive program with the CXC and CSEC payments, enough residents were not taking advantage of the offer. The forms for the Residential Mortgage Payment Program can be had at and Treasury or sub-treasury office in the districts.

LOVEFM


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#499669 - 01/07/15 06:14 PM Re: How To Get Gov't To Pay Your December Mortgage [Re: Marty]
Steve BZ Offline
Slick, Dean, real mutha@#%&ing slick.

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