The Housing Authority will start auctioning off houses of customers that are defaulting on their payment from next week.
CEO Alipate Naiorosui said they had to take this drastic step, as they have a large number of people defaulting on their payments as a result of the slow economy and the increased number of people getting divorced.
Though not disclosing the huge financial loss they are facing as a result of the defaulting customers, Naisorosui said they will first start with houses from Labasa and in the West.
Meanwhile, nothing has been finalized as of yet on the $70 million loan from the Exim Bank of China.
However, Naiorosui said Government has revealed that the Bank is carrying out its own evaluation before anything is finalized.
Housing Authority to auction off houses
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