The Homeowners Protection Bill is before Parliament

Homeowners Protection Bill Debated

By Kendea Smith:



Lawmakers in the lower chamber yesterday began debate on the Homeowners Protection Bill, which is designed to assist struggling homeowners facing “extraordinary” circumstances to keep their homes.

Moving the Bill in the House of Assembly was State Minister for Finance Michael Halkitis.

“This Bill represents a modernisation of the lending framework in The Bahamas and creates a level playing field between borrowers and lenders. All of the provisions in the legislation have been benchmarked against international standards and hence are the standards that are in for in the home countries of the major lenders,” he said.

When passed, the court will be empowered to provide relief to borrowers from the consequences of breach of a loan agreement where the borrower pays the arrears by a reasonable time to be determined by the court.

The Bill also provides for the transfer of mortgages between financial institutions at no cost for the borrower.

In addition, the lending institution may sell after one year of giving a notice to default.

And if the lender sells the home at a surplus, the lender must give the borrower that money.

The minister said the bill has had widespread consultation.

“We continue to work hard to bring relief to homeowners who have mortgages and have fallen into difficulty. We face many challenges but we are committed to keep working to help as many as we can. We believe that this legislation is a positive step towards that end,” Minister Halkitis said.

The minister also spoke about the government’s much touted mortgage relief programme.

The government was told initially that 1,100 mortgagors could be approved through the programme.

However, banks only entertained 422 applications. Of that number 147 were deemed potentially eligible and only six were approved.

Minister Halkitis said the government continues to process appeals.

“To say that we are not satisfied with the outcome would be an understatement,” he said.

“We believed that it was a well thought-out plan which had as a prominent element working with the financial institutions to mutually agree on a plan. We have previously passed an amendment to the stamp act to extend the stamp tax exemption to homeowners who have lost a first home to foreclosure and are now seeking to acquire a second home. We have in committee the pension plans to access those savings to save their home.”

First to contribute to the debate from the Opposition was North Eleuthera MP Theo Neilly.

“While the Bill seeks to protects borrowers in the long run it might end up doing the opposite. Where financial institutions may become more careful and apply more scrutiny. As a result, if there are less loans or mortgages quite naturally there will be less construction thus less money circulating in the economy,” he said.

“So though the Bill seeks to help people, if we are not careful it may cause more harm,” he said.

May 23, 2013


The Bahamas mortgage crisis and the Homeowners Protection Bill in the Bahamian Parliament

The Bahama Journal

Caribbean Blog International

To Ryan Pinder: Put some policies on the table rather than simply objecting in Parliament

Ryan Pinder, MP on the Bahamas Government's Mid-Year Budget

By Rick Lowe:



If no one else in the PLP offers food for thought, Mr. Ryan Pinder does.

In fact it looks as if he's one of the few PLP's that offer reasoned comment in Parliament. At least he's the one that gets press coverage anyway.

In this article in the Nassau Guardian he suggests that the PM's growth projections in the Government's mid-year budget are unlikely.

I agree with him, but none of us have a crystal ball, so it's mere conjecture on the part of both politicos.

Where I part company with him is when speaking about the impact of rising oil prices he says; "it is the responsibility of the government to anticipate such realities and put in place policies to counter the adverse effects of rising prices."

I can't find that as one of the governments reasons for existing in the Constitution, but to simply put a statement like that out there without suggestions on what policies are necessary to control the price of oil we import and how the government would pay for whatever those policies might be is irresponsible.

Mind you both parties are derelict where fiscal responsibility is concerned, but where we might be able to excuse generations past with this behaviour, to continue to let these comments go unquestioned with the current state of public finances would be no less than irresponsible of us - the voting public.

It is time for us to ask our MP's to put a little more on the table than rhetoric, lest we should stop paying any attention to them at all.

On a lighter note, Mr. Pinder objects to being called the PLP's Poster Boy by Mr. Byron Woodside of the FNM in this story in The Tribune yesterday.

Well the dictionary says a Poster Boy "is a person that epitomizes or represents a specified cause..."

I wonder how we should interpret his objection to being called the PLP's Poster Boy? As I said earlier, he seems to be covered in the press for the PLP these days over and above everyone else.

To paraphrase what some wag once said:

"Why are we surprised when some politicians play politics? It's not like they are supposed to be real adults . . . they are, after all, politicians and aren't playing around with their money."

So I guess we shouldn't be surprised when no solutions, or at least potential solutions, are offered.

But come on cousin Ryan, you can raise the level can't you? Put some policies on the table rather than simply objecting. That's what is expected by Parliamentarians of us mere mortals when we raise issues with you guys.

March 04, 2011

weblogbahamas

Bahamas Blog International

Majority Rule is a concept that has long been lost in the everyday Bahamian way of life

Who says the majority rules?
thenassauguardian editorial


Today is being observed as Majority Rule Day in The Bahamas.

Historically, the day represents the emergence of a local, black Bahamian government, with the responsibility of helping Bahamians govern their own affairs and their future, as The Bahamas began its trek to Independence.

Now in its 44th year, Majority Rule Day continues to be observed as a day that honors those who contributed to The Bahamas we know today. However, mention the words “Majority Rule Day” to the average Bahamian and ask them what it is about and more than 85 percent will look at you like a deer staring into headlights.

Ask the average young person (between the ages of 15-25) and more than 90 percent will think you’re speaking a foreign language.

Not enough Bahamian history is being taught. Most Bahamians don’t know their history, and for the most part, many could care less.

But that’s another story for another time.

As far as celebrating Majority Rule Day is concerned, some feel it is pointless, considering the fact that The Bahamas finds itself in a contradiction from a socio-economic point-of-view. We live in a society where the minority rules the majority.

The rich minority controls and dictates the lifestyle of the majority of the poor Bahamians. We live in a society where “the rich gets richer” and the poor remains poor.

In addition, the idea of “government for and by the people” is not based in reality.

The Bahamian Parliament, which is supposed to represent and fight for the rights of Bahamians, seemingly pass laws that burden the average Bahamian and gives more power to the wealthy among us.

Majority Rule is a concept that has long been lost in the everyday Bahamian way of life. What it stood for in the past, seems to have less relevance and meaning today.

One of the co-founders of Majority Rule Day, former Governor General Arthur D. Hanna, noted that Majority Rule Day was an uphill battle “in that we couldn’t get a level playing field.

“The government of the day (United Bahamian Party - UBP) wanted to hold on to power, therefore, they had all kinds of tricks. One was how they dealt with constituencies.”

On the surface, it seems ironic that many of today’s governments have used the same “tricks” during elections in The Bahamas, but when one considers the fact that some of our leaders of today learned from those of the past, then we can understand certain similarities.

The concept which our forefathers fought for, does not hold the same significance today. So, we celebrate a day that has somehow lost its meaning and its focus, which is the Bahamian people.

We celebrate a day where the majority does not rule, but rather where the minority rules the majority.

1/10/2011

thenassauguardian editorial

Bahamas Blog Internaional

Bishop Simeon Hall has chastised politicians for their recent lawless behaviour in the House of Assembly

Bishop Simeon Hall hits out at politicians over House behaviour
tribune242


FORMER Christian Council president and community activist Bishop Simeon Hall has chastised politicians for their recent behaviour in the House of Assembly, accusing them of contributing to the growing wave of lawlessness afflicting the country.

He noted that MPs represent the country both locally and internationally, and therefore have the capacity to influence the opinion of others.

Debate

Bishop Hall said: "Their behaviour is emulated by young people who desire to rise to the annals of Parliament one day. The current level of parliamentary debate in our House of Assembly is becoming less and less inspiring and may have now become a major contributor to the spirit of crime which pervades our country."

The bishop pointed out that people from all walks of life have seen or listened to a parliamenatary debate at least once. "Most recently, they would have seen uncontrollable behaviour; lack of order and respect; and a disregard for those who care to pay attention. It is reflective of today's culture of widespread anger, despair and violence," he said.

"Young and old listening to the parliamentary debate might misinterpret the way MPs speak to each other and cause the public to lower their anger management skills."

Bishop Hall said politicians have an obligation to "work in the best interest of all Bahamians", and that "well-paid officials should do a better job of setting the standard of inter-personal communications.

"If the present tone of debate in Parliament is expected to set the level of dialogue throughout the nation, then we are in far greater trouble than we had first imagined," he said.

Anger

Bishop Hall warned that the nation's "anger index" is at an all time high.

"The criminals are committing more horrific crimes; fights in our schools have become commonplace and more violent; domestic violence and child abuse persists; and respect amongst fellow men is dying," he said.

"It is almost impossible for the unemployed, marginalised and despairing Bahamians to listen to Parliament and conclude that his or her position will soon change."

Bishop Hall said it is little wonder that many people believe the Bahamas "lags woefully" behind other nations in the region in "intellectual exchange" and progressive and innovative ideas.

He added: "It is useless pointing to the bad behaviour and disrespect manifested in other parliaments of the world as an excuse for ours.

"One bad behaviour ought not to be used to justify another bad behaviour.

"If we cannot speak strongly to each other - even vehemently disagreeing with each other - without denigrating the person, we fail the rudimentary examination for participation in the ongoing struggle of nation building," he said.

October 26, 2010

tribune242

Bahamas Blog International

Bishop Simeon Hall: The Bahamian people, by and large, have bought into the lie that only lawyers are best suited to sit in Parliament

Bishop Simeon Hall speaks out against electing lawyers to Parliament
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net:



BAHAMIAN voters should throw their support behind "ordinary" members of society instead of continuously electing lawyers to the halls of Parliament, said Bishop Simeon Hall.

The senior pastor of New Covenant Baptist Church reasoned that lawyers - many of whom profit from the "present culture of criminality" - cannot be expected to solve the crime problem or change the systems in place which have led to this "national nightmare."

He added that men and women who have proven themselves successful in community building and business would make better political candidates. While several lawyers are the architects of the nation's foundation, and have an indispensable role in nation building, Parliament needs more contractors, successful entrepreneurs, farmers and community builders to take the Bahamas to the "promised land," said the religious leader.

"It is time for the country's electorate to help in reducing the number of lawyers we have in our Parliament and allow more persons from the ordinary walks of our society to participate in our national debate," said Mr Hall in a statement released yesterday.

"There exists an urgent and immediate need for ordinary persons to represent the common masses. It cannot be expected that this national nightmare of crime will be (remedied) by the wisdom of one group. While lawyers, in the main, do not cause crime, they are the major beneficiaries of the present culture of criminality and this cannot be expected to do what is needed to change things."

"The Bahamian people, by and large, have bought into the lie that only lawyers are best suited to sit in Parliament," said Mr Hall as he called all political parties to choose ordinary persons with a reputation of community leadership for their election tickets.

The country needs fresh ideas and new perspectives in the national dialogue, he added, "if we are to change the status quo which sees ordinary persons on the edge of desperation".

August 23, 2010

tribune242

Bahamas Blog International

Sidney Stubbs, Holy Cross Member of Parliament Legal Team Intends to Request An Annulment of The Bankruptcy Order Supreme Court Justice Jeanne Thompson Issued Against Him

If the court grants an annulment, this essentially means that Mr. Sidney Stubbs would no longer be a bankrupt

No Appeal For Stubbs

 

 

 

 

By Candia Dames

Nassau, The Bahamas

16th December 2004

 

Attorneys for Holy Cross Member of Parliament Sidney Stubbs are heading back to court today and are expected to report to Chief Justice Sir Burton Hall that Mr. Stubbs has no appeal pending before the Privy Council.

Last month, Sir Burton dismissed an application to have Mr. Stubbs’s bankruptcy order set aside, but he reserved judgment on an alternative request for an annulment of that order until it could be confirmed whether the case was being appealed to the high court in London.

The Bahama Journal has learnt that Mr. Stubbs’s legal team now intends to pursue the request for an annulment of the bankruptcy order Supreme Court Justice Jeanne Thompson issued against him on March 30.

If the court grants an annulment, this essentially means that Mr. Stubbs would no longer be a bankrupt.

The fact that he has no appeal to the Privy Council is likely to raise new arguments over the interpretation of the constitution.

Legal advisors have told the Bahama Journal that an application for an annulment does not technically constitute an appeal.

Some scholars interpret the constitution to mean that Mr. Stubbs can only remain in his seat as long as he has an appeal pending.

But the MP’s legal team is expected to argue that what the constitution is in fact saying on this point is that he is entitled to the extension of time he has secured from parliament as long as he has the “right to appeal.”

This new development in the Stubbs legal debacle may spark renewed political debate over his fate and whether a by election is likely.

One political observer claimed that parliament was misled in September when it passed a resolution to grant Mr. Stubbs a six-month time extension to appeal the matter on the basis that he intended to appeal the ruling.

“You have time limits to lodge appeals and prosecute them and if the time has passed, and he has not lodged the appeal, that is the end of the matter,” the observer said.  “The moment he fails to lodge it in a timely manner under the constitution his seat became vacant.”

But government and Progressive Liberal Party officials who continue to express open support for Mr. Stubbs view the situation another way.

They believe that an annulment is enough to get Mr. Stubbs back in his seat when the House of Assembly convenes next month after its Christmas recess.

Mr. Stubbs has been out of the House for nine months now and has until March to have the matter cleared up.  It would be a full year since he would have been out of the House.

The MP has insisted that he continues to work in his constituency and has claimed that he still has the support of the majority of his constituents.

A group of them even went as far as filing a summons in the Supreme Court in support of Mr. Stubbs, but Sir Burton asked the constituents to desist from interfering with the judicial process and said what they did could amount to contempt of court.

Even though Mr. Stubbs has said that his former creditor, Gina Gonzalez, has been repaid all that is owed to her, he cannot return to parliament as long as he is still a bankrupt.