FARM MORTGAGES
Sir, —The able letter of X.Y.Z. in your issue of April 16 will commend itself to a great many mortgagees who at present are a jolly sight worse off than mortgagors. The mortgage leglislation of the Coalition Government has ruined hundreds like myself. I parted with my farm —wherein the whole of my savings were invested —on the representation that I would have no trouble whatever with regard to future payments. Now I have to see the effects of a stay order for five years, watch my farm deteriorate, all because the mortgagor's interest in the farm does not exceed £2OO, -while my hard work and my family's future interest in the place goes for nothing. The budget drawn up for this man allows for every possible luxury, while I am recommended to apply for sustenance, old age pension, charitable aid. On inquiries the sustenance people say you are entitled to the old age pension, the pensions office say the farm mortgage precludes you from any right to a pension. I can starve. If I earn anything it counts to the mortgagor and against me. As X.Y.Z. S&ys if a mortgagee is prepared to go back on his farm let him go and work it. .Mortgagee.
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Bibliographic details
New Zealand Herald, Volume LXXIII, Issue 22398, 20 April 1936, Page 12
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208FARM MORTGAGES New Zealand Herald, Volume LXXIII, Issue 22398, 20 April 1936, Page 12
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