And, while diplomacy was at the top of the agenda, domestic politics was also given time at yesterday's Cabinet meeting. Hearing the thick cries of personal loss and ruin that attend DFC's liquidation programme, where houses are being sold off hand over fist, Cabinet has now endorsed a plan to offer discounts on DFC loans.Those who have housing loans that are in arrears of $50,000 or less will be given three offers.

  • First, if the loan is non performing and the debtor is prepared to pay, that person will get a 20% discount on the original loan
  • Those whose loans are not in arrears will get a 25% discount
  • And those who are willing to pay the balance of the loan and the interest outright will get a 30% discount.

Again, those offers apply for housing loans of $50,000 or less. As for those who can't take advantage of the opportunity, the plan is not to sell the houses off, but for the Ministry of Housing to take over the loans. DFC is expected to announced details of both plans shortly.

Tags DFC Ministry Of Housing