Tenants of the New Matadi Housing Estate have vowed not to agree on the new mortgage cost per unit put forward by the National Housing Authority (NHA).
According to the defiant tenants, the amount charged by the Authority was too exorbitant, insisting that they can, in no way, settle down on same under such economic hardship in the country at this time.
The NHA, fortnight ago, imposed a new mortgage fee of US$5,000.00 per unit at the New Matadi Housing Estate constructed in the late 1970s during the regime of President William Tolbert.
But the residents told the media Monday in Monrovia that the units have long been under mortgage since constructed some 33 years now. Sylvester Kruah, one of the spokesmen and affected tenants, said the issues of the new mortgage cost needed discussion with the residents, other than arbitrary imposition.
"For years, these structures were in dilapidated condition when we took them; we used our own cash to improve them to this level. Any increment needs our consent and input," he noted.
The National Housing Authority is a specialized autonomous housing development agency enacted by both the Senate and House of Representative in legislative assembly on April 7, 1960 to create what is now known as the National Housing Authority.
The framers, under the laws of the Republic, established a specialized autonomous housing development agency/entity of Government To plan, initiate, implement and execute housing development programs for the country.
The NHA's finance department, through its receivable section, establishes mortgages for their various estates in Liberia, like E.J. Goodridge, Steven A. Tolbert, and New Georgia Housing Estates at the time during the William V. S Tubman's regime.
Tenants of the estates have a mortgage billable on a monthly basis. Arrangements are also being made via local banks for potential homeowners to also obtain financing directly through them.