MORTGAGE RELIEF

Wanganui Chronicle, Volume 80, Issue 189, 12 August 1938, Page 8

MORTGAGE RELIEF

WORK OF THE COMMISSIONS MINISTER'S REVIEW OVER FIVE MILLIONS WRITTEN OFF. [ Ter Press Association.! WELLINGTON, Aug. 11. In the House this afternoon the At-torney-General (Hon. H. G. It. Mason), in the course ot a statement on Mortgagors and Lessees Rehabilitation Act, said the work under the Act had now reached a stage when the end wa.. in sight. There were filed total applications in respect of 15,592 farms and 18,885 other applications. Up to the end of June the commissions had disposed of 10,363 farm applications and 15,597 other applications. In July 1918 farm applications and 659 other applications had been dealt will, leaving a total at end ot July, to be dealt with, of 3311 farm and 2629 other applications. It was anticipated that a number of these would be settled privately and the majority of the work would be completed by the end of October. Relief given to mortgagors was extensive, continued Mr. Mason, the remissions to the end of June being as follows: Total Amount Written Off Mortgages. £ Farm 2,767,914 Other than farm 64,887 Amount of Arrears of Interest Remitted. Farm 634,134 Other than farm 152,174 Arrears of Rent Remitted. Farm 156,669 Other than farm 5,282 Debts due to unsecured creditors written off 488,940 Aggregate amount written oS 4,846,118 Since that date a further sum of £419,419 been written off, so that the total remissions under the Act to the end of July was £5,265,537.