MORTGAGE RATES
A CANTERBURY DEMAND,
CHRISTCHURCH, Saturday
A statement on behalf of farming interests published to-day declares that the elimination of the personal covenant from mortgages is necessary to save losses to people who had sold properties years ago that we're subject to mortgages, and who are now called upon to meet mortgage moneys or interest owing to the default of the present owner. It is further stated that the elimination of the personal covenant will materially assist in stabilising the of all real estate, and will enable mortgagees and mortgagors to negotiate on an equal footing. With the personal covenant operating, the mortgagee holds all the guns. Without it operating, payment of interest and instalments under the present mortgages will be altered by mutual agreement to comply more equitably with existing conditions. —(P-A.)
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Bibliographic details
Wairarapa Daily Times, 14 March 1932, Page 5
Word Count
134MORTGAGE RATES Wairarapa Daily Times, 14 March 1932, Page 5
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