Minister of Finance, Colm Imbert says the government will be approaching the Housing Development Corporation (HDC) and the Trinidad and Tobago Mortgage Finance Company (TTMF) for a further one-month deferral to mortgages.
Speaking at today’s virtual media conference, Imbert said it could be a touchy request, but one he’s willing to make.
“HDC had originally agreed to defer payments for two months. I’ve had requests coming to me for a three-month deferral and it is something I’ve asked the board of the HDC to look at and certainly, I can ask the TTMF for an additional month’s deferral for mortgage payments, but I can’t give a commitment at this time,” he said.
The Minister says there’s still more to consider in these requests since deferrals mean a loss of income for the company.
“All of these things have a financial implication; they don’t stand on their own. There is a cost attached to that because if TTMF, for example, stops collecting its monthly payments, that’s a whole month’s income gone,” he added.
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