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Oct 25, 2011

Senator questions housing loans write-off

Godwin Hulse

The Senate met on Monday in Belmopan. The urgency was for the ratification of the ninth amendment. That did pass, though with a small majority. But there were other issues to deal with. In his Independence Day speech on September twenty-first, Prime Minister Dean Barrow announced that he was forgiving sixty-million dollars in housing loans that had accumulated over the years. According to the PM, more than nine thousand two hundred historical loans were on the books of the Ministry of Housing. In the Senate on Tuesday, Senator Godwin Hulse, was not as forgiving.

Godwin Hulse, Senator

“I understand government’s need to write off because they are carrying this on their books for a long time. Government continues to pay a lot of those back through the securitization program which it had guaranteed. But what I was saying is that their values of sixty thousand and down and there are many persons who in this country who have paid their loans; they are many persons who continue to meet their commitments and there are lot of persons who just for one reason or the other are not.  And I felt that even though government is writing it off, it should not completely discontinue trying to collect—even if it is one hundred dollars a year. There must be some commitment because a lot of these people are living these houses. There are a lot of these houses still around and they would have gotten this free ride, but somebody is paying and it is the rest of tax payers and the rest of hard working Belizeans. Even if it was a hundred dollars a year, some kind of payment—they should be responsible to paying. Yes there are the indigent and poor you help them, but there are lots of others who you may see at parties with gold chains and all kinda bling and they are not paying their bills and I have a difficulty with that honestly.”

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7 Responses for “Senator questions housing loans write-off”

  1. JahKid says:

    I owe DFC for my house, and am almost about to finish paying my loan. I agree 100% with Senator Hulse. I don’t work for a fat salary because I am not educated to get a well paid job.
    But monthly $420 is what I pay for my house. I would be happy if the remainder of my loan is forgiven by Our Prime Minister. I don’t think that loans over maybe $13,000 should be forgiven. I have sacrificed myself for years in order to own my house. I squeeze my money in order to also pay my kids education. I used to be a party dude but priorities are in life, that I needed to work on and moved away from it. And talking about party, I mean I had to look good, (dress) I had to buy my boozz, spend with so called friends, treat the gurls good, I tell you in one night I would blow most of my pay. (single man) But when a family came I had to live different, be responsible and think for the future of my family. I see what Mr Hulse means, THERE ARE PEOPLE WHO DO NO CARE IN PAYING FOR THERE HOMES. EVERYDAY YOU SEE THEM IN THE BAR DRINKING AS IF THEY HAVE NO BILLS TO PAY. Some of these people owe for vehicles, the same houses they owe for are filled with Courts products and they owe their lives. Everybody has the right to live the way they choose to live but they need to be responsible for the life style they want to live. If they cannot live it, then delete some of the unnecessary lifestyle and adopt new constructive ones. These negligent people go around and talk and play as if everything is ok with them and they forget that they live in a house that they need to pay for. But they spend theeir money wrecklessly, neglecting their responsibilities. I belive that people who owe $15000 and more GOB should continue collecting. Forgive them a $12000 from all and let them continue paying. Peace and love!!!

  2. marco says:

    Good thinking Senator. I will benefit if DFC write off loans. I have paid for my house two and a half times and I am still paying. I guess I could qualify for this forgiveness as many but let us look at the full picture.

  3. O.Walk observer says:

    I totally agree with Mr. Hulse on this, government just can’t strike off 62 million owed for no good reason at all. Of all these people, there must be some that can afford to pay or continue paying even if it be at reduced installments; I personally know somebody within this group that earns around 5,000 a month and is paying but if the government passes this thru, he will have his loan striked off, for what reason??? There must be other ways to help the entire Belizean population; lower taxes, lower gas price etc. This decision is supposed to be studied deeply and then help the ones who really needed such as sick people, single mothers, unemployed etc. Also this will only burden the working class further since somebody will have to eventually pay for the 62 million!!

  4. Belizean says:

    Thats the way it is Godwin, but when you buy votes, thats how you legally do it. What is disheartening is that the rest of us hard working belizeans have to pay for those that are lazy. This is the kind of thing that has this country in this mess, UDP is guilty of buying votes here, and it is definitely not Dean Barrow who is paying from his law firm, it is from our pockets, yet we have to pay thousands in new tyres, and parts for our vehicles cause the damn streets cant be fixed..Please Bzns lets kick Dean Barrow and this bogus circus out!

  5. Celiabz says:

    I definately agree that the debtors should pay a fixed amount that they can afford. Our economy is already in a bad state and at this point, every dollar counts.

  6. chaveli says:

    well all you guys havbe your bread butter we need a new infusion of funds

  7. sim says:

    i think that the PM should give these loans to a collection agency for collection those who r working with GOB take monthly out of their salary. froze the interest and any payment made 50% goes to Interest and 50% goes to principal at least the client will see loan balance going down but some time you go and make payment all you are paying back is pure interest you get discourage and stop paying after a while

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