700 homeowners nationwide have taken advantage of Housing Authority’s 10 percent ground rent discount offered for March, 2013.
Housing Authority chief executive officer, Alipate Naiorosui said, “We are pleased with the positive response from our ground rent customers toward the discount program”
Since the introduction of the discount this month, approximately $53,000 has been collected with lending executives actively writing and calling homeowners to utilize the discount.
The 1o percent discount is applicable for the month of March and homeowners that pay their ground rent account in April, 2013 will receive a 7 percent discount.
“If homeowners settle their outstanding balance on their ground rent account, all interest charges will be waived”, Naiorosui added.
Housing Authority is encouraging its homeowners to prioritize their ground rent payments to avoid legal action to recover outstanding ground rent, cancellation of lease by re-entry and their name being entered to the Data Bureau which will hamper the ability to access credit facilities from other credit providers.