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.
Millions of Jamaican bought their homes through the bank with no problem! This situation does not mean it happen all the time. Something is radically wrong here.
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.🙏🙏🙏🙏🙏🙏
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...
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.
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.
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.
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
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
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.
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!
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.
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 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.
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. 🤗
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.
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
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
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.
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
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.
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.
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.
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😮
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
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!
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
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.
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.
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 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.
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.
Jody once you log on to your account the history should shows all the late fees and other charges that the bank charge....Did you not see any of those charges online....I dont get it something off
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!
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 ! 🤔🙏❤️🇯🇲🇨🇦
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
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 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.
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.
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.
FACTS.🎯...as a former bank with over 30 years experience....selling our client's home is the very last resort. Usually we have to exhaust every means of contacting the client which usually includes putting an advertisement in the newspaper several times. Bless.
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.
Its sad that these banks put you through the trouble of divulging all of your business but cant be bothered to contact you properly when repossessing your home. The house probably went into arrears without her knowledge and whoever's in charge just sucked their teeth and took a ruthless and careless approach to the situation. I hope she gets satisfaction, whatever happens.
This is evil to the core. So they basically want to give her back the consideration (9.5m) that she paid for the house while the value had gone up to over 20 million. How can you sell someone's house without contacting or informing them? She won't get back that house for obvious legal reasons, but she has a winnable case. Sue them for the value of the house at the time that they sold it, plus, legal and other fees for your pain & suffering. You realize that 9.5 million would not buy the same type of house today. And we wonder why the world is in the mess that it is in. Some rob with the knife and some rob with the pen.
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
@@123Silence 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.
Best way save your money buy a little piece of land and little by little you build on it
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
Millions of Jamaican bought their homes through the bank with no problem! This situation does not mean it happen all the time. Something is radically wrong here.
Thank you Jody for highlighting this situation and thank you very much to the Depratt family as well, learnt so much
If this happened to her thats means she is not the only one. People please come forward
It was a scam. They scammed her on purpose and the loan officer she dealt with is involved also.
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
Me too 🏃♀️➡️🏃♀️➡️🏃♀️➡️🏃♀️➡️🏃♀️➡️
Pan yuh ears 😂
I get one every month.
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”
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.🙏🙏🙏🙏🙏🙏
Thanks for sharing thie story. It will help someone
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
Thanks for sharing this video. We need to put these banks out there for people to know of these highway robbers called bank
Whatever compensation this lady is getting should be the current value of the house and not what she bought it for
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
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.
Thanks Delpratt Family. Very informative vlog.
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.
My god, this is cruel .pray this lady gets some redress… thanks Delprat fam🙏🏽🙏🏽🥰
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.
Thank you for sharing 14:08
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
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
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.
Wow thats crazy! Cant wait to hear this story.
Couldn't they send her a letter.
Waiting to hear this story
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!
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.
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.
😢 you will get your money and house back Power to miss J !
This is definitely an interesting video, we need to follow up on this story and blast it online.
Keep us posted on this one.
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.
Those dishonest horrible banks in Jamaica. Its frightening
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. 🤗
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.
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
As a resident overseas you have to check up on your mortgage insurance and everything else
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
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👊
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.
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 really hope she have this resolved by now. This is utter foolishness.. 😢
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.
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.
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.
Ooh lord this is so sad so disappointed with the bank .😞
Lawd have mercy... this level of incompetency is unacceptable
Very concerning for people moving back and buying houses in Jamaica😮. How can this happen without the owner’s knowledge.
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
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
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 .
i wonder which bank it is ????
Financial tip for all with loan arrangement....request your statements and request yearly credit reports...
Ting is u have to get a legal team to act for u an speak an communicate for u
WOW WISHING THE VERY BEST 😢
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
My heart is crying for this lady , i pray that her bog big oay day comes early
What r u trying to say
I need to know the name of the bank please
Please do a follow up video and let us know the final outcome
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.
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
How did the new owners access the scheme also who put name at gate
Give us an updated on this matter now
We need to hear the other side of the bank
Agree. Something not adding up
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.
😮😮sad sad😢😢
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 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.
Need to know the bank
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....
Question: Can someone say if NHT increases your mortgage every year ?
No but the insurance can be increased
It sounds like the Banks are targeting home owners.
You're so right and sell it to their friends for private investment
You need to get this on news.
You cannot leave it to the bank, she should be checking
Very informative....thanks. can you guys change your smoke detector battery 😁
Thanks, it wasn’t ours lol
Ok...🤣🤣🤣
Jody once you log on to your account the history should shows all the late fees and other charges that the bank charge....Did you not see any of those charges online....I dont get it something off
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!
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.....
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
Good morning family, we should hear from the bank as well; something is wrong. ❤
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.
Omg😢
You guys needed to edit out 15:44
It was left deliberately
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.
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.
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.
Your employer cannot increase your payment for your mortgage unless you have given them a written confirmation to increase payment.
I don't understand what yuh staying. How you paying the loan and the bank foreclose on the property?
Mmmmmmmm..as someone who has dealt with the banks it's just not making sense to me. Please give us an update when the matter is resolved.
FACTS.🎯...as a former bank with over 30 years experience....selling our client's home is the very last resort. Usually we have to exhaust every means of contacting the client which usually includes putting an advertisement in the newspaper several times. Bless.
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.
Which rassclaat bank is this
I said the same thing too.
Its sad that these banks put you through the trouble of divulging all of your business but cant be bothered to contact you properly when repossessing your home. The house probably went into arrears without her knowledge and whoever's in charge just sucked their teeth and took a ruthless and careless approach to the situation. I hope she gets satisfaction, whatever happens.
Is it that she was not getting a monthly statement? Usually this is sent via email
It’s called preditery lending
This is evil to the core. So they basically want to give her back the consideration (9.5m) that she paid for the house while the value had gone up to over 20 million. How can you sell someone's house without contacting or informing them?
She won't get back that house for obvious legal reasons, but she has a winnable case. Sue them for the value of the house at the time that they sold it, plus, legal and other fees for your pain & suffering.
You realize that 9.5 million would not buy the same type of house today. And we wonder why the world is in the mess that it is in. Some rob with the knife and some rob with the pen.
Iswear this just sad all around sigh..i literally would be going crazy right now sigh
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
@@123Silence 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.
😳Waow! is so house so scarce in Jamaica. Is so people a want house so bad in Jamaica 😳😳😳