• About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions
Monday, February 6, 2023
No Result
View All Result
NEWSLETTER
Cayman Marl Road
  • Home
  • CMR Daily Buzz
  • Cayman’s Youth
  • Parliament
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    World-class Ironshore Studios opens in Cayman

    World-class Ironshore Studios opens in Cayman

    Dancehall artist Spice suffered complications during surgery?

    Spice to perform in Cayman after postponing show last year

    Julie Mango named Best Jamaican Social Media Personality

    Julie Mango named Best Jamaican Social Media Personality

    Chloe Powery-Doxey off to Miss Universe pageant

    Chloe Powery-Doxey off to Miss Universe pageant

    Miss Universe to be aired by streaming service Roku

    Miss Universe to be aired by streaming service Roku

    Bob Marley’s grandson dies

    Bob Marley’s grandson dies

    ‘Ellen DeGeneres Show’ DJ Stephen ‘tWitch’ Boss dead by suicide

    ‘Ellen DeGeneres Show’ DJ Stephen ‘tWitch’ Boss dead by suicide

    Celine Dion diagnosed with incurable disease

    Celine Dion diagnosed with incurable disease

    Bob Marley immersive experience in the US next year

    Bob Marley immersive experience in the US next year

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    HSA opens adolescent behavioral health center

    HSA opens adolescent behavioral health center

    Health Insurance Commission monitoring Cayman First

    Health Insurance Commission monitoring Cayman First

    False: No flight restrictions to Cayman due to COVID

    False: No flight restrictions to Cayman due to COVID

    Long Term Residential Mental Health project not completed

    Long Term Residential Mental Health project not completed

    Dr. Marc Lockhart leaves Mental Health Commission

    Dr. Marc Lockhart leaves Mental Health Commission

    Heart Fund encourages everyone to get CPR training

    Heart Fund encourages everyone to get CPR training

    Health Ministry names incoming Chief Medical Officer

    COVID-19 “XBB Variant” info not issued by Ministry of Health

    Clear masks available for HSA hearing impaired patients

    Clear masks available for HSA hearing impaired patients

    New treatment for acid reflux in the Caribbean

    New treatment for acid reflux in the Caribbean

    Health Ministry names incoming Chief Medical Officer

    One COVID-19 related death reported

    Trending Tags

  • Home
  • CMR Daily Buzz
  • Cayman’s Youth
  • Parliament
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    World-class Ironshore Studios opens in Cayman

    World-class Ironshore Studios opens in Cayman

    Dancehall artist Spice suffered complications during surgery?

    Spice to perform in Cayman after postponing show last year

    Julie Mango named Best Jamaican Social Media Personality

    Julie Mango named Best Jamaican Social Media Personality

    Chloe Powery-Doxey off to Miss Universe pageant

    Chloe Powery-Doxey off to Miss Universe pageant

    Miss Universe to be aired by streaming service Roku

    Miss Universe to be aired by streaming service Roku

    Bob Marley’s grandson dies

    Bob Marley’s grandson dies

    ‘Ellen DeGeneres Show’ DJ Stephen ‘tWitch’ Boss dead by suicide

    ‘Ellen DeGeneres Show’ DJ Stephen ‘tWitch’ Boss dead by suicide

    Celine Dion diagnosed with incurable disease

    Celine Dion diagnosed with incurable disease

    Bob Marley immersive experience in the US next year

    Bob Marley immersive experience in the US next year

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    HSA opens adolescent behavioral health center

    HSA opens adolescent behavioral health center

    Health Insurance Commission monitoring Cayman First

    Health Insurance Commission monitoring Cayman First

    False: No flight restrictions to Cayman due to COVID

    False: No flight restrictions to Cayman due to COVID

    Long Term Residential Mental Health project not completed

    Long Term Residential Mental Health project not completed

    Dr. Marc Lockhart leaves Mental Health Commission

    Dr. Marc Lockhart leaves Mental Health Commission

    Heart Fund encourages everyone to get CPR training

    Heart Fund encourages everyone to get CPR training

    Health Ministry names incoming Chief Medical Officer

    COVID-19 “XBB Variant” info not issued by Ministry of Health

    Clear masks available for HSA hearing impaired patients

    Clear masks available for HSA hearing impaired patients

    New treatment for acid reflux in the Caribbean

    New treatment for acid reflux in the Caribbean

    Health Ministry names incoming Chief Medical Officer

    One COVID-19 related death reported

    Trending Tags

No Result
View All Result
Cayman Marl Road
No Result
View All Result

Gregory Watt given one week to vacate home

by CMR
December 29, 2017 - Updated on June 24, 2022
in Breaking News
0
Gregory Watt given one week to vacate home
17
SHARES
Share on FacebookShare on TwitterShare on Whatsapp

(CMR) Bodden Town resident Gregory Watt (Antony Ricardo) has been given one week to vacate his home that was foreclosed on and sold by Scotiabank earlier this month.

In what has turned into a public battle after many years of back and forth with his bank Justice Richard Williams rendered his decision earlier today after hearing from the bank's lawyers and Mr. Watt's lawyer, Clyde Allen, after a two-day civil court hearing.

Given the public interest in the case the matter was held in open court. Watt had previously taken his battle to the local talk show circuit as well as Facebook where he created a page called “Criminal Conviction”. His cause gained support from local representative Chris Saunders (BTW) and Ruthanna Young from Star 92.7fm Straight Talk. among others.

In light of many others losing their homes, there has been a call for mortgage reform to give consumers greater protection. Some gathered and held a protest about a week ago to show their support for this cause and law reform.

Saunders commented that

It is extremely sad and especially compounded by the time of year when people are looking forward to new years' resolutions and he's having to look for a new place to stay. It is clear that we need to do a better job of protecting consumers and we must make mortgage reform a priority

Ironically the Registered Land Law (“RLL”), specifically, Section 3 of the RLL that deals exclusively with legal charges was amended some years ago giving the bank's the ability to foreclose on a property without any intervention from the court. The previous position was that the mortgage possession process involved the proper service on the borrower of notices under RLL sections 64(2) and 72. Section 64(2) notice is in effect the “demand”.

Under section 72, if the borrower was in default for one month, the lender may serve on him notice in writing to pay the monies outstanding. If the borrower failed to comply with the section 64(2) notice within three months of the date of service, the lender could seek a court order entitling it to appoint a receiver or sell the charged property. In most cases, this will lead to the sale of the property.

Some years ago the members of the Legislative Assembly unanimously decided to allow banks to begin the forced sale process without the need to seek judicial consent.

In some jurisdictions, the sale of residential properties and dwelling houses have greater protection. Florida is one such jurisdiction with the Homestead Exemption – although this does not offer protection from voluntary liens such as mortgages.

The current PPM Coalition government has struggled with addressing this issue. in 2015 when North Side MLA Ezzard Miller advocated for mortgage reform the then ministers of finance and financial services promised workshops to help homeowners. At the time almost 200 homes were facing foreclosure proceedings. More recently Minister of Financial Services Tara Rivers addressed the complexities of addressing this issue on November 6 2017 in the Legislative Assembly.

https://youtu.be/ldkoO4CpNjY
Mr. Watt explains his side of events and what led to his home being foreclosed on by Scotiabank

The judge issued a 57-page judgment that provides substantial details into the circumstances surrounding this matter and why he came to the decision that he did. You can read the full ruling here.

Related posts:

TCHT: Cockfighting in Cayman?
Fire Service responds to alarm at Cayman Islands Hospital
Nine-year-old raped and strangled in Jamaica
TCHT: Foreigner with Firearms
Share your vote!


No, thanks.
How do you feel after reading this?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid
Tags: Ezzard MillerMLA
CMR

CMR

Related Posts

TCHT: Cockfighting in Cayman?

TCHT: Cockfighting in Cayman?

by Kenyotta Boone
February 2, 2023
0

SHOW OUTLINE: 20:55 - Wednesday's Police Chase 1:15:58 - $500,000 fine for what? 1:51:08 - Cockfighting in Cayman FACEBOOK LINK

Fire Service responds to alarm at Cayman Islands Hospital

Fire Service responds to alarm at Cayman Islands Hospital

by Renae Stampp
February 1, 2023 - Updated on February 2, 2023
0

(CMR) The Cayman Islands Fire Service responded to an alarm at the Cayman Islands Hospital after the alarm was triggered...

Man charged with wounding after weekend nightclub stabbing

Nine-year-old raped and strangled in Jamaica

by Renae Stampp
February 1, 2023 - Updated on February 2, 2023
0

(CMR) A nine-year-old girl was reportedly raped and strangled to death after leaving school this afternoon in Hanover, Jamaica. According...

TCHT: Foreigner with Firearms

TCHT: Foreigner with Firearms

by Kenyotta Boone
January 31, 2023
0

SHOW OUTLINE: 47:45 - Support for the Blue Spot 1:24:15 - Foreigners and Firearms YOUTUBE LINK

Three George Town trailers caught fire, no injuries

Three George Town trailers caught fire, no injuries

by Renae Stampp
January 31, 2023
0

(CMR)  The Cayman Islands Fire Service (CIFS) extinguished a fire from three trailers in an open lot near Cayman Auto...

RUMOR: Airport to close?

Passenger from Canada arrives in Cayman with three guns

by Renae Stampp
January 28, 2023 - Updated on January 29, 2023
0

(CMR) The Customs & Border Control Service has confirmed that on Saturday, 28 January 2023, CBC Officers seized three (3)...

Next Post
Brac man seriously injured in hit and run

Brac man seriously injured in hit and run

Recent News

Powerful quake kills over 1,800 in Syria and Turkey

Powerful quake kills over 1,800 in Syria and Turkey

February 6, 2023
Man fingered in robbery after leaving finger on scene

Man fingered in robbery after leaving finger on scene

February 6, 2023
MoE stimulates early learning with Smart Start program

MoE stimulates early learning with Smart Start program

February 6, 2023
Applicants needed for Financial Assistance Tribunal

Applicants needed for Financial Assistance Tribunal

February 5, 2023
Raising boys vs raising girls

10 things you should never say to your kids

February 5, 2023
Man hospitalized following altercation at bar

Man hospitalized following altercation at bar

February 4, 2023
  • About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions

Copyright © 2023 CMR Cayman's Premier News Source - All Rights Reserved

No Result
View All Result
  • Home
  • CMR Daily Buzz
  • Events
  • Election 2021
  • Cayman’s Youth
  • Legal Notices
  • Live Show
  • The Cold Hard Truth
  • Ask The Marl Road
    • Consumer Protection
    • COVID-19
    • What would you do?
  • Breaking News
  • Government
    • Road Closures
  • Rumor Has It
  • Investigative Reports
  • Business
    • Finance
  • Cayman Crime Watch
  • Celebration of Life
  • Community Notices/Events
    • Accidents
    • Police
    • Weather
  • Court Cases
    • Civil
    • Criminal
  • Entertainment
    • Events
    • Music
  • Family
    • Education
    • Fury Friends
  • Lifestyle
    • Food
    • Health
    • Medical Experts
  • News Roundup
  • Opinions
    • Polls
    • Cartoons
  • Politics
    • Parliament
  • Regional News
  • Social Media Happenings
    • Jackass of the Day!
    • Lost & Found
  • World News
  • Cayman Small Business
  • Cayman Wellness
  • Tech News
  • Sports
  • Science
  • Weird & Unusual News
  • Advertorials

Copyright © 2023 CMR Cayman's Premier News Source - All Rights Reserved