I bought a house in Jamaica and I refused to borrow money from a Jamaican bank. I am fortunate to be able to get a loan where I live and paid cash. I wanted no dealings with those banks in JA. I am aware not everyone can do what I did.
Once your mortgage is behind for more than 3 months foreclosure can commences. The mortgage documents signed is clear. Correspondence is normally sent in writing advising of any delinquency before the sales. By law, the house has to be sold for the market value and the the remainder paid to the original owners. She should have gotten at least $13,000,000. The $9.5 is too low. People, please request a monthly statement In writing or by email.
Here in England we have the Financial Ombudsman Service to complain to as customers !!!! There were so many instances of maladministration in this case on the part of the financial institution which is leaving me to ask who does the customer in Jamaica have to complain to without having to take costly legal action???????????
I learn so much. Never gotten a mortgage statement. Got a call last year that i owed 33000 then told its an error. Going to check on my mortgage as day light
Smh these people who did this to that lady must remember that God don’t like evil , and he sees all things especially on the innocent people. I pray that she will be victorious in getting all she lost from these people who was involved who took her for granted. Thanks for sharing this is an opener to us all.🙏🙏🙏🙏🙏🙏
Normally, if you're in arrears, they would write a letter to the owner and not via email. Something doesn't sound right. I think the lady mortgage rate has increased, and maybe she continues to pay the old rate. Maybe we need to hear the bank side of the story. We need to name the bank ASAP.
Clearly she was in arrears and not getting any correspondence or emails, or texts. She should have reached out to see her statement at some point in the year. How was her mortgage being paid? She’s not answering a lot of questions.
Thank you so much for sharing this information so that we all pay close attention to our monthly statements and question any changes or increases to prevent undue hardship and unexpected surprises.
I do not see how this would happen if people review their statements intelligently every month. The first month I did not get my statement, I would have been all over the matter.
My sis and I were just talking about this recently. We know of car loans where the person changed job and the bank took the whole loan payment from his savings immediately. The bank said because they don't see any deposits from his job and he got a redundant check so they took the rest of the loan. If her mortage was taken out of her Jamaican salary and she no longer has a Jamaican salary she should have gone to the bank and updated the account. They should not have just sold her house without notification. It might be their friend or family who bought it. It's sad and discouraging.
My sister was going to look at a VM repossessed house for sale, and when she arrived thats when the owner knew the bank had it up for sale, and that happened twice. She promised never to buy a repossessed house. Sometimes they have only outside pictures, and telling you that it's not available for viewing...
I live in the UK and I had a pound Sterling account with Jamaica National Bank, and after 8 years in the UK, I came back to Jamaica and went to the bank to withdraw some money and they told me that bank fee's eat out all my money, even money that I put in the account 2 Months before I went back to Jamaica, and they said that my account was inactive so fee's cancelled out all my money. So I'm afraid to do any business in my own country. I thought it was a good idea to work and send my money back home and putting in the bank it would be safe, MAN I WAS WRONG!. Good luck to this lady I hope she get back her house or all her money.
That is just JNB...I had 50.00 in my Victoria Mutual bank for over 7 years and I was not using it and the account went inactive I wanted to use it and went to VM they updated my paperwork and added interest to the 50.00...JNB steal people money they have been doing it for years
It can happen, had a situation with JN where they made a mistake in the interest rate and my monthly payments went up so high. You have to be so careful. They know how to do things which if you're not carefully you lose your house.
This is very confusing don’t know what really happened. Don’t make sense to me. That’s not all the process work. You have to behind in your mortgage before they do a foreclosure on your house. None of this makes sense.
Come think of it , from the information I gathered it seems that she may have had the mortgage loan through a mortgage broker. Who arranged the mortgage from a financial institution but not the bank. If she was away from 2021, how was she still paying the mortgage? 🤔🇯🇲🇨🇦
ALL creditors, whether they are a credit card company, bank or mortgage company, prepare a monthly statement for their customers to review. If the customer is too lazy or simple minded to scrutinize their monthly statement how does that make it an inside job?
Exactly! It’s ur responsibility to check on ur mortgage payments whether ur living overseas or locally. This lady is not being truthful about her payments! Stop blaming the banks!
So for three yrs you got no mail (even for tax purposes from your mortgage).Also email is not the primary course of communication with the bank. YOU will have to get it through the mail.
This story is surprising and shocking, but I want to advise that there needs to be a change in strategy. This should not just be treated as a legal matter. Jamaican homeowners don't seem to know our power. As a group, we are one of the largest contributors to the growth and development of this country. We should be demanding protections against these predatory practices from our government. I hope the next step in this story is getting in touch with an MP or Minister and having them explain how they are going to stop these practices!
I was in charge of a relatives mortgage. Thank God we made it through. It was as if they fighting you to take the house without you see them fighting. I kept calm throughout because I thought they would design new plans to get it another way each time. That was my feeling
Wow. How sad - foreclosure has to be so traumatic. This can happen for sure. I was about to sign with a bank or two before I bought my home in Jamaica around 2021/2022. After reading the fine print, it stated the interest rate could be increased at any time with a thirty day notice, so I decided not to use the bank. I mean can you imagine, this means they can increase my mortgage whenever they want to - just sent me a notice? Ughhh, that's a solid no! Maybe her interest rate kept going up and she was not not getting the notices due to the email situation? It could be the reason - my heart goes out to her in any case. I don't know what happened but its tough to lose something you put your heart and soul into.
So she had a fixed amount being deducted and then the amount she was to pay increases but her fixed deduction did not increase. So essentially it looks like she was underpaying. She was likely on paperless notification so he mortgage statements were going to the email on file (which was an incorrect email). Having never seen the mortgage statement she didn’t know she was underpaying. In my opinion 1. Never do auto draft to pay any bills. 2. Make sure you see a statement every month. One month past u don’t see a statement must contact the bank. 3. Jamaica does not offer fixed rates…I don’t know why real estate channels don’t tell people that.
I did not know that about the fixed rate. I think what you are saying is right. A lot of people do not realize that auto-pay does not adjust when your payment increase. Her story is sad, but I don't think she is going to win this case. Especially if she already took the pay-out for the house.
I did not know about the variable rate for mortgage. If I am not mistaken, banks do advertise as fixed rate. NHT does but the insurance may change which they inform you of. We have to also ensure our contact info is up to date.
The bank should have tried to contact your emergency contact at least. But You have to also be vigilant as a home owner paying mortgage. Check up and ask questions
Let me also tell you, they will increase it AUTOMATICALLY when interest rates are going up but when rates go down, e.g. pre COVID, you have reach out to them and request that your rate be adjusted to market.
Fishy how? Loans officer hardly handles arreas or contact persons where there is an arrear. They handle the sale. And her email was incorrect on file which is what they would use to contact her (not the loans officer) or via # which she probably didn't update her US # or even receives physical mails or checks up on her mtge statements
This is unfortunate and a lesson to all. Banks are in to make money. They don't care. To everyone please make sure you are checking your mortgage statement every month. Especially if you have it on auto-pay. Auto-pay does not adjust if your interest rate goes up.
She was not keeping up with her mortgage info. She should have the bank app where she can hon in and see what the new monthly payments was. She did not call the bank. People have to call the bank and keep up with the mortgage and house payments. You cannot be nonchalant.
They don't increase the deductions automatically. I had to be reminding them to increase my deductions when interest rate increases. It's a form and needs approval. They can't just increase salary deductions
It's a very unfortunate situation. Is there no option for an online account with the mortgage lenders? Because that should allow you to view your monthly statements with detailed ( and should be current) information; If your loan statement comes in the mail, does it show the "late fees and interest" that's accruing? Is sending loan statements via mail not standard with banks in Jamaica?? I have soo many questions because this is madness.
In the UK I know someone who almost loose their house for £2400 arrears, and she was in communication but could not clear it during the time frame they gave her or afford to pay extra on her monthly payments.It was about three days before the repossession date she manage to borrow the money from friend and pay the bank. It can happen….look at the case in America where they repossess the person home for HOA fees. Anywhere you live and have arrears, they can repossess for those arrears even if you are making your regular monthly payment. So let us stop cussing Jamaica banks, people are just not aware of these things.
Years ago there was graduating mortgage and straight mortgage. With graduating you pay interest only for 10 years, nothing goes to principal whilst with straight every payment reduces the principal. Straight mortgage was the way to go even though the payments were higher. If you can always choose straight mortgage.
Cass, I am in the US and years ago I switched from a fixed rate mortgage with a 5.75% interest rate to a Variable rate mortgage because that rate was only 2.2%. My fine print clearly stated that my rate is recalculated every year on April 1st and that the calculation is based on a formula using the published index rate the last week in February. With this being said, I already calculate and know what my new rate is going to I be on April 1st from the end of February. I am not a banker, I am just a consumer who takes the time to read and understand what I sign my name to so that I won’t be surprised. I hate the fact that people are blaming the bank for their own shortcomings.
Very touching i feel it for her im happy i buy land and build my home how i want it i DIDNT borrow any money wen im building. My home has i eork get pay i buy materials cash build thank you Jesus. MY home is done an i even buy another piece of lamd awaiting to start build never i would do margage i tathe do work and buy material Jamaica is too corrupt
Owe no one...Strive to pay off...The borrower is servant to the lender.....I know its hard, but try to pay off...the banks dont give a rass about us black Jamaican people.....
This is horrible. I have a mortgage with NHT and sometimes I don’t pay for one whole year. They call people in Jamaica asking for me. When I pay, I usually pay in lump sums and then I forget that I have a mortgage. They scammed this lady out of the house . I pray that she gets proper compensation and buy something cash in the future
I believe she is neglecting her responsibility. I bought an auction property from NHT and I was told outright that the homeowner can pay up at last minute and my sale fall through. When it finally came through he was in denial and the tenants were not even aware. I am sceptical about this situation. I think she left and mobile number change so the contact was not there. I don’t think it’s the loan officer obligation. Once you taken out the loan it’s no longer with the loan officer.
Something is definitely upside down on this one. First of all if my memory serves me right, when a notice is served especially with regards to mortgage arrears, a written version MUST be sent to the mortgage address by law and the notice must give a time-line for the mortgager to address the situation. Additionally, a further or final written notice must be sent informing of the finance company's intent to sell. Again, while the internet is an acceptable medium of communication a copy of said notice must be sent to the mortgage address. Something smells like FISH
Dearest let me tell you something, this is not farfetched. A lot of persons who migrated with mortgage are at risk of losing their property because the banks have a tendency to stop the usual withdrawals an place property into foreclosure. A long time people a lose property to friends of bank workers.
She should get back all the payments made.The market value of the property less the loan balance should be refunded plus interest. There's criminal collusion with the people involved with this sale. The police should be called in.
Cass, you hit the nail on the head! They had the original email address, so where is the explanation to how it got changed and by whom??? I have seen a similar thing happened before but with rented accommodation. Smh These people are unscrupulous, and heartless❗❗❗ I wish that lady is able to get some justice. 🤗
Im convinced that these banks are unregulated. From ssl to x bank (bank that shall not be named that scammers target that takes security for a joke), ppl are losing so much at the hands of these bank. I hate having never had a credit card but Im afraid of these banks. So many of my friends have their credits messed up by incorrect accounting by the banks. Its horrible that they didnt try other means to reach out. Its so strange cuz the loan officer always has ur contact. Thanks for raising awareness of this.
Hi guys very interesting , this is a shocking information , this lete think twice if i wanted to in vest in , she need to get s good lawyer. A lots of people complaining at the banks in JAMAICA
Hey guys, I listened to this story and a family friend of mine went through the same situation with the bank. He owned a plaza and had a loan with the bank and was paying and they loan officer waited until he was overseas to sell his plaza to their friend who had an eye on this property.
I was curious as to how the mortgage is going up every year. Didn’t know that they only offer variable mortgage rate. Thought they offered fixed interest rate aswell.
Delpratt, my tenants refused to pay the light bill, good thing I called the light company to check, bam! that time they told me they was about to put the house in collections. Be on point people, keep check!ing, check!
This would never happen with the NHT. I reside overseas and had an issue with the NHT when they got no response by email they called me overseas. This sounds like someone got paid off the bank is so dishonest I stay far from them.
Dont be so sure. I got a statement recently showing that i am in arrears. The strange part is my company had never skipped a beat with payments. I have never gotten any email/ call from them
I have so many questions 1. When did the new owners visit Judy's property to see if they would like it? 2. Did the new owner buy a house site unseen 🤔? 3. Did the new owner not ask when the old owner (Judy) will be vacating? 4. Even if Judy was late and being evicted wouldn't the bank be responsible for clearing out the house for the new owner? This sound REALLY SUSPICIOUS and WICKED.
I don’t recall you asking if she reviewed her statements or when last she got a statement. I don’t see how this could happen if she reviewing her statements.
This is not surprising to me in this life we own nothing very thing is loan to us and things happen but Just want her to be strong God see everything he knows everything and God will come threw for her
Increase in interest rate have no impact on an already signed and approved mortgage. Unless the person have an open or flexible interest rate, their agreed upon loan payment will remain for the life of the loan. I understand that is not the case in Jamaica…why not? At the end of the day, this lady, like all should do, should be checking the statement every month. What they did is wrong. If the accumulation interest is more than the amount she owed on the remaining loan, then they cancelled out her rights to ownership. In most communities in the US, we have to pay homeowners association fees and if a homeowner does not pay his or her annual fee and they let it accumulates, if they try to sell that home, they put a lien against it so you have to pay the money owed to them first. There is so much more that people should know about percentage of ownership versus your rights. While they may claim to have supported or valid reasons for what they did, it is still wrong. She should be compensated for the current value of the home and wherever her monthly payment was going, they need to return that to her either interest.
Good day, Delprat family! This is a strange situation. It seems since 2021. Extra money was owed on the mortgage. Was she still earning income, for the mortgage payment to be deducted by payroll ? Whoever is behide this transaction knew that she was out of the Country. As for the email address , someone may have changed it. Very interesting case! Thanks for sharing ! 🤔🙏❤️🇯🇲🇨🇦
There is no where to run. All the banks in Jamaica predators. From my experience with JNB is that as you miss your mortgage a day or two you get a letter informing you of your payment due
At least they wait three years if it was the UK that would be in auction within 6months. If you owe the equivalent of two months mortgage in arrears they have the right to repossession hearing if there is no communication or you are unable to pay!
Sad situation but nice video. learned alot here. bigup amd blessup and keep doing your thing guys always brining quality content. for "Jody" I know this video will not only help you but alot of persons out there going through the similar situation.
I am so sorry this happened to this lady! This is just a wake up call to all persons in Jamaica paying a mortgage, ensure that your monthly payments are up to date, because as interest rates change so does your monthly payment. My monthly payment went up by $30+K because of increased interest. I'm also thinking to go in and mek sure the correct contact info is correct. I hope you get double fi yuh trouble Jody. And until this matter is settled by your lawyer, don't spend that payout! Put it up, mek it grow some interest until you court matter is settled.
If you have a variable interest mortgage, expect it to be changed. A we nuh read the fine print. It is all stated in the contract. Interest is charged daily. But even so, it should not have gone in arrears in either case. What ever funds are paid should first be applied to apply to interests owed then to fees then to the principal. What that would do is extend the life of the loan, not put it in arrears. Sumpten nuh right deh suh
The fact that a particular email address was with the loan officer doesn’t mean that is the email address on the system. The lady explained the emails never bounced so as far as the bank was concerned she was getting the emails and ignoring the bank.
Not sure if this available in Jamaica but everyone should have online banking to check up on their affairs or call in every so often especially is residing abroad or away for long periods.
1st thing was her last place of employment in Jamaica transferring the money to the bank ? Can she access her account with the bank online ? Did she check with the bank to see if everything is ok with her mortgage and other accounts ? Even if she is overseas she can also make a phone call from there ? There are too many unanswered questions on her side.
When I'm late with property taxes I come home to a note in the door, they purposefully waited for this acc to reach the level for repossession and had their buyer waiting as well😮
There is more to this story....this lady did not check on her mortgage for 3 years. The onus is on her ....its not easy to repossess the property...I am sure the bank followed due process. Trust me that property was advertised several times...its not just email that is used If she wasnt receiving email with her statements she should have reached out. She is leaving Jamaica sign up for online banking. This is carelessness on her part. Save your lawyer fee lady and go buy something else and be more vigilant next time. Trust me i always cursing the bank but not this time
I find it strange that she was still making monthly payments yet her home went into foreclosure, the credit officer doesn't find that concerning to push for that sale? There is no way they exhausted all means of communication bcz atleast they should have reached out to her place of employment of her next of kin which should be on file. And lady, yuh nuh check on your mortgage for 3 years?!!! Like you're not concerned with what your balance is looking like?
Also, the Loans officer handles the sale. Another unit like the arrears dept would handle that part and they are looking on whats on file. Not passing any blame and no1 knows what efforts were made to contact and if #s are updated but Mortgagers, please get and review your monthly statements to know whats going on with your mortgage!!! Be in the know.
Thisis why you have to keep grandma or aunty or one of your kids or someone you can trust to stay in the home. If someone was there they would've received mail from the bank and wouldve notified the owner abroad.
I have a mortgage but it with nht, however, my mortgage document I put my mother's home address so all communication goes to my mother's home...however recently I got locked out of my online banking only to see my email I have on file different from my personal email I have a number in my email & they did not.. however my online backing have the correct email the irony
@@kevinfender5299 Good thing they have to send communications to your mother because based on what you just said that could just be the story they would use as an excuse.. 👍🏾 That's what they would do to cause chaos and confusion? That's not right at all. Mortgages are huge issues.
Based on the information if true she should commence litigation against the mortgage lender and ensure that she gets the full cost of the property plus some.
She obviously got played. They changed the email address on purpose,so it looks like it's her fault thus causing her mortgage is in default. Scammer schemes. Down right shame.
Best way save your money buy a little piece of land and little by little you build on it
It was a scam. They scammed her on purpose and the loan officer she dealt with is involved also.
I bought a house in Jamaica and I refused to borrow money from a Jamaican bank. I am fortunate to be able to get a loan where I live and paid cash. I wanted no dealings with those banks in JA. I am aware not everyone can do what I did.
Once your mortgage is behind for more than 3 months foreclosure can commences. The mortgage documents signed is clear. Correspondence is normally sent in writing advising of any delinquency before the sales.
By law, the house has to be sold for the market value and the the remainder paid to the original owners. She should have gotten at least $13,000,000. The $9.5 is too low.
People, please request a monthly statement In writing or by email.
Can you advise what country you are in? This sounds like a very good idea
If this happened to her thats means she is not the only one. People please come forward
Thank you Jody for highlighting this situation and thank you very much to the Depratt family as well, learnt so much
Please let us know which bank it is. Why protect the banks reputation and keep it a secret if these are the things they are doing to their customers.
Remember they have to be careful also of putting out names.
Yep, they can say “alleged”
Here in England we have the Financial Ombudsman Service to complain to as customers !!!! There were so many instances of maladministration in this case on the part of the financial institution which is leaving me to ask who does the customer in Jamaica have to complain to without having to take costly legal action???????????
Thanks for sharing thie story. It will help someone
I learn so much. Never gotten a mortgage statement. Got a call last year that i owed 33000 then told its an error. Going to check on my mortgage as day light
Me too 🏃♀️➡️🏃♀️➡️🏃♀️➡️🏃♀️➡️🏃♀️➡️
Pan yuh ears 😂
I get one every month.
Smh these people who did this to that lady must remember that God don’t like evil , and he sees all things especially on the innocent people. I pray that she will be victorious in getting all she lost from these people who was involved who took her for granted. Thanks for sharing this is an opener to us all.🙏🙏🙏🙏🙏🙏
Whatever compensation this lady is getting should be the current value of the house and not what she bought it for
Tell we a which bank mek we call dem up bout this... this need CVM TVJ
Yes maybe CVM TVJ will make you understand the importance of reviewing your monthly statements immediately with intelligence.
ANY bank in Jamaica...they are ALL the sams
Normally, if you're in arrears, they would write a letter to the owner and not via email.
Something doesn't sound right. I think the lady mortgage rate has increased, and maybe she continues to pay the old rate.
Maybe we need to hear the bank side of the story.
We need to name the bank ASAP.
What you Explain had happened to my sister and she almost lost her house
Clearly she was in arrears and not getting any correspondence or emails, or texts. She should have reached out to see her statement at some point in the year. How was her mortgage being paid? She’s not answering a lot of questions.
Thank you so much for sharing this information so that we all pay close attention to our monthly statements and question any changes or increases to prevent undue hardship and unexpected surprises.
I do not see how this would happen if people review their statements intelligently every month. The first month I did not get my statement, I would have been all over the matter.
Old teiffff them!
Let me tell you, it's so important to keep a track on these thing. Don't just say, am paying so everything is alright.
My sis and I were just talking about this recently. We know of car loans where the person changed job and the bank took the whole loan payment from his savings immediately. The bank said because they don't see any deposits from his job and he got a redundant check so they took the rest of the loan.
If her mortage was taken out of her Jamaican salary and she no longer has a Jamaican salary she should have gone to the bank and updated the account. They should not have just sold her house without notification. It might be their friend or family who bought it. It's sad and discouraging.
My sister was going to look at a VM repossessed house for sale, and when she arrived thats when the owner knew the bank had it up for sale, and that happened twice. She promised never to buy a repossessed house. Sometimes they have only outside pictures, and telling you that it's not available for viewing...
These banks are so savage, they are the hardest to even get on the phone and when you go in branch they waste your entire day.
Them is the very worst
Thanks for sharing this video. We need to put these banks out there for people to know of these highway robbers called bank
I live in the UK and I had a pound Sterling account with Jamaica National Bank, and after 8 years in the UK, I came back to Jamaica and went to the bank to withdraw some money and they told me that bank fee's eat out all my money, even money that I put in the account 2 Months before I went back to Jamaica, and they said that my account was inactive so fee's cancelled out all my money. So I'm afraid to do any business in my own country. I thought it was a good idea to work and send my money back home and putting in the bank it would be safe, MAN I WAS WRONG!. Good luck to this lady I hope she get back her house or all her money.
That is just JNB...I had 50.00 in my Victoria Mutual bank for over 7 years and I was not using it and the account went inactive I wanted to use it and went to VM they updated my paperwork and added interest to the 50.00...JNB steal people money they have been doing it for years
@@GenerationalWealth_GW Two words for you: Usain Bolt
Similar situation with scotia years ago
It can happen, had a situation with JN where they made a mistake in the interest rate and my monthly payments went up so high. You have to be so careful. They know how to do things which if you're not carefully you lose your house.
This is very confusing don’t know what really happened. Don’t make sense to me. That’s not all the process work. You have to behind in your mortgage before they do a foreclosure on your house. None of this makes sense.
Come think of it , from the information I gathered it seems that she may have had the mortgage loan through a mortgage broker. Who arranged the mortgage from a financial institution but not the bank. If she was away from 2021, how was she still paying the mortgage? 🤔🇯🇲🇨🇦
What do you mean it does'nt make sense ....In side job......
ALL creditors, whether they are a credit card company, bank or mortgage company, prepare a monthly statement for their customers to review. If the customer is too lazy or simple minded to scrutinize their monthly statement how does that make it an inside job?
What about online?@@margaretsmith2089
Exactly! It’s ur responsibility to check on ur mortgage payments whether ur living overseas or locally. This lady is not being truthful about her payments! Stop blaming the banks!
Thanks Delpratt Family. Very informative vlog.
So for three yrs you got no mail (even for tax purposes from your mortgage).Also email is not the primary course of communication with the bank. YOU will have to get it through the mail.
This story is surprising and shocking, but I want to advise that there needs to be a change in strategy. This should not just be treated as a legal matter. Jamaican homeowners don't seem to know our power. As a group, we are one of the largest contributors to the growth and development of this country. We should be demanding protections against these predatory practices from our government. I hope the next step in this story is getting in touch with an MP or Minister and having them explain how they are going to stop these practices!
I was in charge of a relatives mortgage. Thank God we made it through. It was as if they fighting you to take the house without you see them fighting. I kept calm throughout because I thought they would design new plans to get it another way each time. That was my feeling
Wow. How sad - foreclosure has to be so traumatic.
This can happen for sure. I was about to sign with a bank or two before I bought my home in Jamaica around 2021/2022. After reading the fine print, it stated the interest rate could be increased at any time with a thirty day notice, so I decided not to use the bank. I mean can you imagine, this means they can increase my mortgage whenever they want to - just sent me a notice? Ughhh, that's a solid no!
Maybe her interest rate kept going up and she was not not getting the notices due to the email situation? It could be the reason - my heart goes out to her in any case. I don't know what happened but its tough to lose something you put your heart and soul into.
So she had a fixed amount being deducted and then the amount she was to pay increases but her fixed deduction did not increase. So essentially it looks like she was underpaying. She was likely on paperless notification so he mortgage statements were going to the email on file (which was an incorrect email). Having never seen the mortgage statement she didn’t know she was underpaying. In my opinion 1. Never do auto draft to pay any bills. 2. Make sure you see a statement every month. One month past u don’t see a statement must contact the bank. 3. Jamaica does not offer fixed rates…I don’t know why real estate channels don’t tell people that.
I did not know that about the fixed rate. I think what you are saying is right. A lot of people do not realize that auto-pay does not adjust when your payment increase. Her story is sad, but I don't think she is going to win this case. Especially if she already took the pay-out for the house.
I did not know about the variable rate for mortgage. If I am not mistaken, banks do advertise as fixed rate. NHT does but the insurance may change which they inform you of. We have to also ensure our contact info is up to date.
The bank should have tried to contact your emergency contact at least. But You have to also be vigilant as a home owner paying mortgage. Check up and ask questions
TRUE DAT👊
Let me also tell you, they will increase it AUTOMATICALLY when interest rates are going up but when rates go down, e.g. pre COVID, you have reach out to them and request that your rate be adjusted to market.
Genuine question, how would you know when it goes down? I really want to ensure I aware so I can reach out to them
She need to sue the bank and reclaim her house.
That's the reason you have to check things out each month.
Sue who in jamaica.
Nah. I think there was negligence on her part too. So many unanswered questions to say this.
@@empresslee8764I pride myself in being a critical thinker. The fact loan officer was acting fishy with the email issue. He doesn't seem trustworthy
Fishy how? Loans officer hardly handles arreas or contact persons where there is an arrear. They handle the sale. And her email was incorrect on file which is what they would use to contact her (not the loans officer) or via # which she probably didn't update her US # or even receives physical mails or checks up on her mtge statements
Wow thats crazy! Cant wait to hear this story.
Couldn't they send her a letter.
This is unfortunate and a lesson to all. Banks are in to make money. They don't care. To everyone please make sure you are checking your mortgage statement every month. Especially if you have it on auto-pay. Auto-pay does not adjust if your interest rate goes up.
😢 you will get your money and house back Power to miss J !
She was not keeping up with her mortgage info. She should have the bank app where she can hon in and see what the new monthly payments was. She did not call the bank. People have to call the bank and keep up with the mortgage and house payments. You cannot be nonchalant.
Which bank? They need to be exposed if they done this.
Exactly, why protect the banks reputation if this is what they are doing to their customers.
@@silentype2121remember the case in the courts so they cant put much information out there. It can affect the case.
That would certainly help to know the institution
I am a bit curious, she said she did not have to go into the bank "not even once"? For a house purchase? Sounds like the police needs to be involved
Any bank in Jamaica. They are ALL the same
They don't increase the deductions automatically. I had to be reminding them to increase my deductions when interest rate increases. It's a form and needs approval. They can't just increase salary deductions
As a resident overseas you have to check up on your mortgage insurance and everything else
This is definitely an interesting video, we need to follow up on this story and blast it online.
It's a very unfortunate situation. Is there no option for an online account with the mortgage lenders? Because that should allow you to view your monthly statements with detailed ( and should be current) information; If your loan statement comes in the mail, does it show the "late fees and interest" that's accruing? Is sending loan statements via mail not standard with banks in Jamaica?? I have soo many questions because this is madness.
Those dishonest horrible banks in Jamaica. Its frightening
In the UK I know someone who almost loose their house for £2400 arrears, and she was in communication but could not clear it during the time frame they gave her or afford to pay extra on her monthly payments.It was about three days before the repossession date she manage to borrow the money from friend and pay the bank. It can happen….look at the case in America where they repossess the person home for HOA fees. Anywhere you live and have arrears, they can repossess for those arrears even if you are making your regular monthly payment. So let us stop cussing Jamaica banks, people are just not aware of these things.
Years ago there was graduating mortgage and straight mortgage. With graduating you pay interest only for 10 years, nothing goes to principal whilst with straight every payment reduces the principal. Straight mortgage was the way to go even though the payments were higher. If you can always choose straight mortgage.
Cass, I am in the US and years ago I switched from a fixed rate mortgage with a 5.75% interest rate to a Variable rate mortgage because that rate was only 2.2%. My fine print clearly stated that my rate is recalculated every year on April 1st and that the calculation is based on a formula using the published index rate the last week in February. With this being said, I already calculate and know what my new rate is going to I be on April 1st from the end of February. I am not a banker, I am just a consumer who takes the time to read and understand what I sign my name to so that I won’t be surprised. I hate the fact that people are blaming the bank for their own shortcomings.
Very touching i feel it for her im happy i buy land and build my home how i want it i DIDNT borrow any money wen im building. My home has i eork get pay i buy materials cash build thank you Jesus. MY home is done an i even buy another piece of lamd awaiting to start build never i would do margage i tathe do work and buy material Jamaica is too corrupt
Sym me nuh like u a come u come over yah suh fi hype its not every body can buy land an built a house like u gweh an bbc u bbc
Sym me nuh like u a come u come over yah suh fi hype its not every body can buy land an built a house like u gweh an bbc u bbc
Owe no one...Strive to pay off...The borrower is servant to the lender.....I know its hard, but try to pay off...the banks dont give a rass about us black Jamaican people.....
This is horrible. I have a mortgage with NHT and sometimes I don’t pay for one whole year. They call people in Jamaica asking for me. When I pay, I usually pay in lump sums and then I forget that I have a mortgage.
They scammed this lady out of the house . I pray that she gets proper compensation and buy something cash in the future
It sounds like the Banks are targeting home owners.
You're so right and sell it to their friends for private investment
Very concerning for people moving back and buying houses in Jamaica😮. How can this happen without the owner’s knowledge.
I believe she is neglecting her responsibility. I bought an auction property from NHT and I was told outright that the homeowner can pay up at last minute and my sale fall through. When it finally came through he was in denial and the tenants were not even aware.
I am sceptical about this situation.
I think she left and mobile number change so the contact was not there.
I don’t think it’s the loan officer obligation. Once you taken out the loan it’s no longer with the loan officer.
First of all she shouldn’t have called you mail only when something is wrong it’s called paper trail!!
Something is definitely upside down on this one. First of all if my memory serves me right, when a notice is served especially with regards to mortgage arrears, a written version MUST be sent to the mortgage address by law and the notice must give a time-line for the mortgager to address the situation. Additionally, a further or final written notice must be sent informing of the finance company's intent to sell. Again, while the internet is an acceptable medium of communication a copy of said notice must be sent to the mortgage address. Something smells like FISH
Dearest let me tell you something, this is not farfetched. A lot of persons who migrated with mortgage are at risk of losing their property because the banks have a tendency to stop the usual withdrawals an place property into foreclosure. A long time people a lose property to friends of bank workers.
You are right, my aunt bought a piece of land from someone in the bank. Wow
She should get back all the payments made.The market value of the property less the loan balance should be refunded plus interest. There's criminal collusion with the people involved with this sale. The police should be called in.
Cass, you hit the nail on the head! They had the original email address, so where is the explanation to how it got changed and by whom??? I have seen a similar thing happened before but with rented accommodation. Smh These people are unscrupulous, and heartless❗❗❗ I wish that lady is able to get some justice. 🤗
Waiting to hear this story
Im convinced that these banks are unregulated. From ssl to x bank (bank that shall not be named that scammers target that takes security for a joke), ppl are losing so much at the hands of these bank. I hate having never had a credit card but Im afraid of these banks. So many of my friends have their credits messed up by incorrect accounting by the banks. Its horrible that they didnt try other means to reach out. Its so strange cuz the loan officer always has ur contact. Thanks for raising awareness of this.
Ting is u have to get a legal team to act for u an speak an communicate for u
Financial tip for all with loan arrangement....request your statements and request yearly credit reports...
That is unfortunate but the people who claim they bought the house didn’t do a walk through before?
Hi guys very interesting , this is a shocking information , this lete think twice if i wanted to in vest in , she need to get s good lawyer. A lots of people complaining at the banks in JAMAICA
Keep us posted on this one.
Hey guys, I listened to this story and a family friend of mine went through the same situation with the bank. He owned a plaza and had a loan with the bank and was paying and they loan officer waited until he was overseas to sell his plaza to their friend who had an eye on this property.
Please let us know which bank it is. No sense keeping the bank's reputation safe if this is what they are doing to people.
I was curious as to how the mortgage is going up every year. Didn’t know that they only offer variable mortgage rate. Thought they offered fixed interest rate aswell.
it wasn't thru nht it was a bank to most time it not fixed....
Delpratt, my tenants refused to pay the light bill, good thing I called the light company to check, bam! that time they told me they was about to put the house in collections. Be on point people, keep check!ing, check!
That's overseas right? Because JPS can't take your house
Overseas countries ain't taking your home, they will disconnect your utility and the service will not be restored until your bill is paid .
This would never happen with the NHT. I reside overseas and had an issue with the NHT when they got no response by email they called me overseas. This sounds like someone got paid off the bank is so dishonest I stay far from them.
Dont be so sure. I got a statement recently showing that i am in arrears. The strange part is my company had never skipped a beat with payments. I have never gotten any email/ call from them
Ooh lord this is so sad so disappointed with the bank .😞
Delpratt tell her to get a property lawyer and a valuation to help they must give her house wooii
She should ask the lawyer to put a lien on the title.
I have so many questions
1. When did the new owners visit Judy's property to see if they would like it?
2. Did the new owner buy a house site unseen 🤔?
3. Did the new owner not ask when the old owner (Judy) will be vacating?
4. Even if Judy was late and being evicted wouldn't the bank be responsible for clearing out the house for the new owner?
This sound REALLY SUSPICIOUS and WICKED.
My god, this is cruel .pray this lady gets some redress… thanks Delprat fam🙏🏽🙏🏽🥰
I don’t recall you asking if she reviewed her statements or when last she got a statement. I don’t see how this could happen if she reviewing her statements.
Lawd have mercy... this level of incompetency is unacceptable
This is not surprising to me in this life we own nothing very thing is loan to us and things happen but Just want her to be strong God see everything he knows everything and God will come threw for her
Increase in interest rate have no impact on an already signed and approved mortgage. Unless the person have an open or flexible interest rate, their agreed upon loan payment will remain for the life of the loan. I understand that is not the case in Jamaica…why not?
At the end of the day, this lady, like all should do, should be checking the statement every month. What they did is wrong. If the accumulation interest is more than the amount she owed on the remaining loan, then they cancelled out her rights to ownership. In most communities in the US, we have to pay homeowners association fees and if a homeowner does not pay his or her annual fee and they let it accumulates, if they try to sell that home, they put a lien against it so you have to pay the money owed to them first. There is so much more that people should know about percentage of ownership versus your rights. While they may claim to have supported or valid reasons for what they did, it is still wrong. She should be compensated for the current value of the home and wherever her monthly payment was going, they need to return that to her either interest.
U clearly dont understand ARM...Adjustable Rate Mortgages. Your mortgage rate fluctuates with market rates
@@tonywilliams643 Wow!
Good day, Delprat family! This is a strange situation. It seems since 2021. Extra money was owed on the mortgage. Was she still earning income, for the mortgage payment to be deducted by payroll ? Whoever is behide this transaction knew that she was out of the Country. As for the email address , someone may have changed it. Very interesting case! Thanks for sharing ! 🤔🙏❤️🇯🇲🇨🇦
Yes...true. in side job....
This sounds like a inside job.....
Jamaica national Bank predator lenders beware.
Are you speaking of JNBS?? Do let me know so I can look elsewhere??
@@christophergarwood2320it same one
@@christophergarwood2320 yes,realy bad experience,you gotto have some extra extra cash to survive if you should ever do business with them,dont do it
There is no where to run. All the banks in Jamaica predators. From my experience with JNB is that as you miss your mortgage a day or two you get a letter informing you of your payment due
At least they wait three years if it was the UK that would be in auction within 6months. If you owe the equivalent of two months mortgage in arrears they have the right to repossession hearing if there is no communication or you are unable to pay!
Sad situation but nice video. learned alot here. bigup amd blessup and keep doing your thing guys always brining quality content. for "Jody" I know this video will not only help you but alot of persons out there going through the similar situation.
I am so sorry this happened to this lady! This is just a wake up call to all persons in Jamaica paying a mortgage, ensure that your monthly payments are up to date, because as interest rates change so does your monthly payment. My monthly payment went up by $30+K because of increased interest. I'm also thinking to go in and mek sure the correct contact info is correct. I hope you get double fi yuh trouble Jody. And until this matter is settled by your lawyer, don't spend that payout! Put it up, mek it grow some interest until you court matter is settled.
I don't understand what yuh staying. How you paying the loan and the bank foreclose on the property?
If you have a variable interest mortgage, expect it to be changed. A we nuh read the fine print. It is all stated in the contract. Interest is charged daily. But even so, it should not have gone in arrears in either case. What ever funds are paid should first be applied to apply to interests owed then to fees then to the principal. What that would do is extend the life of the loan, not put it in arrears. Sumpten nuh right deh suh
For the persons who can afford it. Have an extra month payment in the account which your mortgage comes from.
The fact that a particular email address was with the loan officer doesn’t mean that is the email address on the system. The lady explained the emails never bounced so as far as the bank was concerned she was getting the emails and ignoring the bank.
My heart is crying for this lady , i pray that her bog big oay day comes early
What r u trying to say
You cannot leave it to the bank, she should be checking
Not sure if this available in Jamaica but everyone should have online banking to check up on their affairs or call in every so often especially is residing abroad or away for long periods.
Your employer cannot increase your payment for your mortgage unless you have given them a written confirmation to increase payment.
1st thing was her last place of employment in Jamaica transferring the money to the bank ? Can she access her account with the bank online ? Did she check with the bank to see if everything is ok with her mortgage and other accounts ? Even if she is overseas she can also make a phone call from there ? There are too many unanswered questions on her side.
i wonder which bank it is ????
When I'm late with property taxes I come home to a note in the door, they purposefully waited for this acc to reach the level for repossession and had their buyer waiting as well😮
Exactly, that looks like a fishy business
It’s not only the companies responsibility to make contact.. mortgagors need to check in periodically on their account also
So true. She was overseas so she should be doing random checks with her mortgage company
Please do a follow up video and let us know the final outcome
There is more to this story....this lady did not check on her mortgage for 3 years. The onus is on her ....its not easy to repossess the property...I am sure the bank followed due process. Trust me that property was advertised several times...its not just email that is used
If she wasnt receiving email with her statements she should have reached out. She is leaving Jamaica sign up for online banking. This is carelessness on her part. Save your lawyer fee lady and go buy something else and be more vigilant next time. Trust me i always cursing the bank but not this time
Bank didnt follow no procedure, why didnt they contact her and the next of kin.
I find it strange that she was still making monthly payments yet her home went into foreclosure, the credit officer doesn't find that concerning to push for that sale? There is no way they exhausted all means of communication bcz atleast they should have reached out to her place of employment of her next of kin which should be on file.
And lady, yuh nuh check on your mortgage for 3 years?!!! Like you're not concerned with what your balance is looking like?
Also, the Loans officer handles the sale. Another unit like the arrears dept would handle that part and they are looking on whats on file. Not passing any blame and no1 knows what efforts were made to contact and if #s are updated but Mortgagers, please get and review your monthly statements to know whats going on with your mortgage!!! Be in the know.
Thisis why you have to keep grandma or aunty or one of your kids or someone you can trust to stay in the home.
If someone was there they would've received mail from the bank and wouldve notified the owner abroad.
I have a mortgage but it with nht, however, my mortgage document I put my mother's home address so all communication goes to my mother's home...however recently I got locked out of my online banking only to see my email I have on file different from my personal email I have a number in my email & they did not.. however my online backing have the correct email the irony
@@kevinfender5299 Good thing they have to send communications to your mother because based on what you just said that could just be the story they would use as an excuse..
👍🏾
That's what they would do to cause chaos and confusion?
That's not right at all. Mortgages are huge issues.
Based on the information if true she should commence litigation against the mortgage lender and ensure that she gets the full cost of the property plus some.
When you have a mortgage if you can afford it pay extra money on your monthly payments
Question: Can someone say if NHT increases your mortgage every year ?
No but the insurance can be increased
You need to get this on news.
Good morning family, we should hear from the bank as well; something is wrong. ❤
She obviously got played. They changed the email address on purpose,so it looks like it's her fault thus causing her mortgage is in default. Scammer schemes. Down right shame.
WOW WISHING THE VERY BEST 😢