Bahamas Mortgage Corporation contacting clients after six months of deferral program

“Our aim is to keep you in your homes”

NASSAU, BAHAMAS — The Bahamas Mortgage Corporation (BMC) has started reaching out to clients who were affected by the COVID-19 pandemic and had mortgage payments deferred, according to Minister of Housing Romauld Ferreira.

Ferreira, however, sought to assure homeowners that the aim is “to keep you in your homes”.

The housing minister could not indicate at the time how many homeowners were including in the program.

Housing

During the press conference where he presented his ministry’s work throughout the pandemic, Ferreira also spoke to housing initiatives throughout the country the government continues to push forward on.

He noted that the Subdivision Development Unit is actively involved with the development and opening of the Carmichael Village Subdivision in Western New Providence.

The subdivision consists of 365 lots divided int four phases. The initial development will be phase one with 107 lots.

Ferreira advised that the tendering process for the civil infrastructure has been completed and has been submitted to Cabinet for final approval.

As for the Family Islands, the Department of Housing is developing 21 lots in Spring City Abaco, with the ain to construct 21 Townhouse style duplex units.

Ferreira said the tendering process for surveying the lost has been completed, and the tendering process to select an engineering company to manage the civil works at the subdivision has been completed.

On Grand Bahama, he said, Cabinet has given approval for the department to sell the unfinished houses in its inventory at a cost of $110,000 – the appraised value.