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Dec 2, 2014

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.

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