STATE LENDING.
RELIEF FOR MORTGAGORS. Per Press Association. WELLINGTON, Oct. 25. In the House of Representatives amendments were introduced to the Finance Bill (No. 3). Rt. Hon. J. G. Coates said the effect of the amendments was to give the Government lending departments, including the Public Trustee, all rights to make settlements with mortgagors regarding money lent, by the departments as the Mortgagors’ Adjustment Commission had in reducing rates of interest and in dealing with arrears. The mortgagor still had the right to go to the Mortgagors’ Adjustment Commission in the event of a satisfactory arrangement not being reached with the department. On the suggestion of Mr W. Nash, Mr Coates agreed to amend the clause to provide that a mortgagor as well as a mortgagee should suffer no limitation of powers to proceed independently of the procedure outlined in the clause.
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https://paperspast.natlib.govt.nz/newspapers/MS19341026.2.47
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Manawatu Standard, Volume LIV, Issue 281, 26 October 1934, Page 7
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142STATE LENDING. Manawatu Standard, Volume LIV, Issue 281, 26 October 1934, Page 7
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