BMC wants clients who took advantage of deferrals to resume payments

Minister of the Environment and Housing Romauld Ferreira said yesterday that the Bahamas Mortgage Corporation (BMC) is reaching out to clients, who took advantage of its six month deferral campaign, for payments.

Ferreira was unable to say how many people took advantage of the campaign.

“At the beginning of the pandemic, at the very beginning, the Bahamas Mortgage Corporation they initiated a program to assist all of their clients,” he said.

“The BMC, as we call it, recognized that many of its clients were being temporarily or permanently laid off as the country was on lockdown and we were closing our borders. BMC launched its deferral campaign by deferring the clients’ mortgage payments.

“The Bahamas Mortgage Corporation offered a six month mortgage waiver.”

He said the campaign assisted “many persons” who were affected by the COVID-related restrictions implemented in recent months.

“However, with the expiration of the initial six months, the corporation has begun to reach out to all of its clients,” Ferreira said.

“All of them who were impacted by the layoffs or who were working reduced days a week.”

He said those clients are asked to contact BMC.

Ferreira said the corporation is “there to help you”.

“We want to be of service to you,” he said.

“Our aim is to keep you in your homes.” 

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Jasper Ward

Jasper Ward started at The Nassau Guardian in September 2018. Ward covers a wide range of national and social issues. Education: Goldsmiths, University of London, MA in Race, Media and Social Justice

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