Opposition Leader Makes Accusations About Upsurge Of Foreclosures


During the Eighth Sitting of the First Session of the Third House of Assembly Opposition Leader Hon. Julian Fraser opined that there was an upsurge of foreclosures in the Territory and he accused the Government of being negligent in that regard.

Hon. Christian stated that the foreclosing of homes did not begin recently. “I must admit that, from where I stand as a real estate agent and appraiser, I have seen that this thing is increasing, but it has existed from decades. What has happened is that you have a bigger number now more than ever before, that has been impacted by a number of economic activities all over the world that have come to affect the BVI,” he announced.

In speculating on the foreclosure issue, Hon. Christian said: “Some people, unfortunately, truth be told, may have made some decisions they should not have made. I would always be the first to say to the bank, ‘work with them for as long as you can to see if you can resolve not having them go to foreclosure market’. But the government doesn’t run the banks; we can only plead with them to give our people a break and work out something for them to be able to hold onto their properties. I would love for them to be able to hold onto their properties, but the government can’t be blamed,”

The Junior Minister for Tourism said that Government is aware of the foreclosures but he stated it was wrong for the Leader of the Opposition to insinuate that the situation was caused by Government.

“If any member of this House can stand up and say that the government is responsible for some of the foreclosures in the country, that member needs to bring the information to this House. We just can’t come in here and make statements and get away with them all the time…. I think that is irresponsible,” Hon. Christian announced.

“That’s a heavy, heavy heavy statement that needs to be justified with facts,” Hon. Christian announced. He further called on Hon. Fraser to retract his comment: “I say to the Leader of the Opposition, perhaps you need to consider retracting the statement, and the member may at some point in time find a way to justify what it is he was trying to convey.”