MORTGAGE RELIEF
ADJUSTMENTS MADE
WORK OF COMMISSIONS
Figures released by the Minister of Justice (the Hon. H. G. R. Mason) show the.amount of business dealt with, to' date by the Court of Review and Mortgage Adjustment Commissions under the Mortgagors and Lessees Rehabilitation Act. The number, of applications for relief filed up to the end of December in respect of farm debts total 15,589, and applications relating to other than farm debts total 18,884. The amount written off farm mortgages totals £1,107,115, and the sum written off in the case of other than farm properties totals £338,624. Other statistics relating to the work of the Court of Review and all Mortgage Adjustment Commissions to the end of V>37 are as follows:—Total number of applications withdrawn: Farm, 1918; other than farm, 3308. Total number of voluntary adjustments approved .by commissions: Farm, 368; other than farm, 725. Total number of adjustment orders made by commissions after hearing: Farm, 1825; other than farm, 3584. Number of orders in which principal sums payable under mortgage or mortgages reduced: Farm, 1048; other than farm, 1558.
Number of orders in which arrears of interest on mortgage remitted: Farm, 944; other than farm, 1041. Total amount of arrears so remitted: Farm, £317,080; other than farm, £83,381. Number of first-mortgages the terms of which have been extended: Farm, 1386; other than farm, 3170. Number of second or subsequent mortgages the terms of. which have been extended: Farm, .726; other ■• than • farm, 1140. Number of mortgages in respect of which rate of interest has been reduced: Farm, 1859; other than farm, 3870. Number of orders in which rate of rent payable under leases reduced: Farm, 317; other than farm, 71. Number o£ orders in which arrears of rent under leases were reduced or remitted: Farm, 296; other than farm, 39. Total amount of arrears so remitted: Farm, £43,022;.0ther than farm, £3919. Number of orders in which whole or part of debts due to unsecured creditors written off: Farm, 600; other than farm, 166. Total amount so written off:"Farm, £162,240; other than farm, £2821.
A return of the work of Adjustments Commissions throughout the Dominion show? that 14,632 applications have been referred to commissions to date for the adjustment of farm, debts, and that applications concerning other than farm debts total 17,782. Voluntary adjustments of farm debts approved last' month total 68, and voluntary adjustments of other than farm debts.in December totalled 70. Orders made last month after hearing totalled 441 in the case of farm debts, and orders made during the month relating to other than farm debts numbered 614. Applications withdrawn.in the case of farmdebt adjustments totalled' 153, and other applications withdrawn in December numbered 177. The number of applications not yet dealt with by commissions totals 9051 in the case of farm debts and 8974 in the case of applications for adjustment .of other, than farm debts; .-. ■
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Bibliographic details
Evening Post, Volume CXXV, Issue 21, 26 January 1938, Page 9
Word Count
480MORTGAGE RELIEF Evening Post, Volume CXXV, Issue 21, 26 January 1938, Page 9
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