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claims that trust will be insolvent in ten years widdout increase
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NHT NOT insolvent!
Opposition Leader Portia Simpson-Miller has once again challenged Prime Minister Bruce Golding's statement that the National Housing Trust (NHT) is insolvent.
Quoting figures from the NHT's annual report, Mrs. Simpson Miller said the Prime Minister was being disingenuous when he made the statement in Parliament.
"NHT's balance balance sheets ending March 2007 revealed total assets of $89 billion up from $78.6 billion the previous year."
Mrs. Simpson Miller said Mr. Golding himself acknowledged that the NHT's total assets at the end of March 2008 were $101 billion, reflecting growth of 28.5% in assets over two yeas.
Turning to the announced increase in mortgage rates, Mrs Simpson-Miller said this has turned the dream of owning a home into a nightmare for most Jamaicans.
According to Mrs. Simpson Miller, just over 33,000 mortgagors will be negatively impacted by the increase in rates.
"Of that number, 29,340 mortgages pay an interest rate of 5% which will be increased to 6% ... some 4,628 mortgagers pay an interest rate of 6% which will be increased 8%."
Mrs. Simpson Miller said other credit institutions are likely to increase their lending rates as NHT's interest rates were the benchmark used by these institutions.
She added that the Opposition is currently reviewing documents forwarded by the Prime Minister and will shortly decide on a course of action.
she should a shame a harself...di NHT was set up fi people who contribute to it ...she tek di money so build fi people in di inner city who never contribute, naw pay dem rent and while u could see wid dat, di building of dat cricket stadium using NHT funds was di wuss slap of all....
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