The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT - PLP leader Perry Christie said his party will create a safety net to prevent Bahamians losing their homes or jobs.

He said the PLP will work with banks and other lenders to get a 120-day moratorium on foreclosures.

"That means everything would freeze so we have an opportunity to bring everyone together to fix this problem," Mr Christie told supporters on Grand Bahama on Saturday.

"We also need to work with banks to get a write-off of unpaid interest and fees for those homeowners facing foreclosure."

Mr Christie said this would allow outstanding balances to fall, lowering the overall debt of the homeowner.

He said a PLP government would guarantee interest payments for affected borrowers for five years, through 2017 and create a special fund to help borrowers in trouble.

The PLP leader also said his party would pass legislation allowing homeowners to use their pension fund to save their homes.

Mr Christie has articulated this plan at several rallies over the past month, prompting the comment from DNA leader Branville McCartney that the opposition leader is naive and "not thinking clearly".

Mr McCartney pointed out that private banks "are in the business of making money" and would never agree to the PLP's plan - particularly the forgiveness of interest payments.

Mr Christie pointed out that the government also promised to address the foreclosure crisis, in October 2008, but failed to do so.

He said: "Bahamian families across this nation are living with the terrible fear that they will lose their home. It is the same story over and over - a job lost, sometimes two jobs lost, or hours shortened so much that mortgage payments can't be made. This is a crisis and it's growing."

Mr Christie said some Grand Bahamians are sitting in dark homes, with bare cupboards, while others are living in their cars and washing up at the beach.

He claimed the FNM has only created jobs for foreigners while Bahamians are facing record levels of unemployment.

"They have so much contempt for you that they even bragged about the revenue they're raising from work permits," he said.

"Bahamians watching foreigners line up for paychecks on Friday, and they saying they deliver?"

The PLP leader said the FNM has been using the global recession as an excuse.

"The truth is, they made the worse," he claimed.

He said Bahamians should be given the opportunity to acquire the skills needed for the jobs held by foreigners, and promised the PLP will do whatever it takes to improve the lives of Bahamians in Grand Bahama.

"We made progress before but we didn't do enough, our work here was unfinished and we need to do much more," Mr Christie said.

He said a Ministry for Grand Bahama will ensure the island's economy gets the special focus and support it deserves.