Between 20 and 30 homes have been foreclosed by the Bahamas Mortgage Corporation (BMC) and two people have been evicted in the past 12 months, according to BMC Chairman Senator Dr. Duane Sands.
Sands said while the corporation dreads having to evict people from their homes, he said some people have flatly refused to pay.
“Some people refused to come in and some people have refused to pay,” said Sands. “And we are simply not able to not follow the law. The law demands that the mortgage corporation goes through a particular process and if that includes foreclosure then it includes foreclosure. The next step from foreclosure is vacant possession, and after that the thing that we dread the most and is the most painful for the mortgage corporation is the specter of forced eviction. I don’t think it even needs to come to that, if people would simply come in and explain the situation and make a reasonable effort to do what they can do,” he continued.
