STATE ADVANCES
HOUSES BECOMING EMPTY,
SUGGESTIONS IN THE HOUSE
(From Our Parliamentary Special.)
WELLINGTON, This Day.
In the House of Representatives yesterday, Mr G. C, Munns said that in all directions houses were empty, and lie was beginning to wonder whether the State Advances Department was not going to make tremendous losses, in the cities at least. A member: “In Auckland l ?”
Mr Munns suggested that the Prime Minister, as Minister in charge of the department, might consider if it were not wiser to extend the term of the mortgage from 35 to 45 years, so as to enable the State to cave its own securities, as well as the worker to save his own home. When a person paid back some hundreds of pounds and kept up his payments, but through stress of circumstances was unable to continue them, it would probably be wise to advance back a portion, and enable the tenant to preserve the interest in his home. When conditions improved, he would be better able to pay off the amount. The department was at present hampered and unable to extend the term of a mortgage. To enable the department to do this it would be necessary to place legislation on the Statute Book.
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Bibliographic details
Northern Advocate, 15 August 1931, Page 9
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207STATE ADVANCES Northern Advocate, 15 August 1931, Page 9
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