By: Paul Sarran
November 19, 2024
I am writing to urgently seek the intervention of the officials at the Trinidad and Tobago Mortgage Bank (TTMB), formerly the Trinidad and Tobago Mortgage Finance Company Limited (TTMF), in resolving a deeply distressing and ongoing issue. I appeal to Chairman Patrick Ferreira, Deputy Chairman Jennifer Lutchman, and Managing Director and CEO Robert Green for compassionate consideration and immediate action regarding the current legal proceedings against me for possession of my mortgaged property.
TTMB’s recent position involves applying to the High Court in San Fernando for a writ of possession, which threatens to render me homeless. This legal action follows a pre-action protocol letter I received earlier this year, which highlighted arrears on my mortgage account. However, I was never offered a payment plan, despite my consistent communication with TTMF explaining the financial hardships I faced due to unforeseen circumstances.
I Paul Sarranin August of 2017 was wrongfully dismissed from my position as Operations Manager at the Canadian Visa Application Centre in Port of Spain. This abrupt job loss created financial instability, and the competitive job market at the time made securing new employment exceedingly difficult. Despite these challenges, I made a lump sum payment of $10,000 TTD toward my mortgage account just one month after my termination, demonstrating my commitment to maintaining good payment patterns.
Unable to secure traditional employment, I started a small consultancy service offering visa application assistance. However, the COVID-19 pandemic disrupted my business, as my clientele was primarily travel-related, forcing me to close down.
In 2008, under the Housing Development Corporation’s (HDC) random selection process during Prime Minister Patrick Manning’s tenure, I was allocated housing in Piarco. In 2015, I transferred to a more suitable development in San Fernando, where I felt secure. When HDC offered clients the opportunity to convert their housing arrangements to a mortgage loan with TTMF at a favourable 2% interest rate, I accepted, as no other financial institution provided such terms.
Despite my efforts, including sporadic payments during unemployment, arrears accumulated to approximately $60,000-$70,000 TTD. By February of this year, a judgment was passed in the High Court in San Fernando, requiring me to pay nearly $300,000 TTD to avoid further legal action.
Throughout this turmoil, I sought advice from attorneys, but the high retainer fees—starting at $25,000 TTD—made hiring legal representation impossible. Representing myself, I ultimately lost my case. Recently, I secured an attorney willing to plead on my behalf to prevent the loss of my home, but the threat of homelessness remains imminent.
I reached out to Minister of Housing Hon. Camille Robinson-Regis, Junior Minister at HDC Adrian Leonce, and my Member of Parliament Hon. Brian Manning. While Mr. Manning genuinely intervened and communicated with TTMF’s leadership team, leading to assurances of an arrangement, no tangible resolution has been achieved to date.
I am now employed with the Ministry of Social Development and Family Services as a Citizen Engagement Support Officer I, a role I have held since April 2024. This year, I have paid approximately $13,000 TTD toward my mortgage account. Despite these efforts, TTMB’s attorney is pursuing a Notice of Application for possession of my property, with a court hearing scheduled just one week before Christmas.
I am also a final-year Political Science student at the University of the West Indies, pursuing my degree at the Global Campus in St. Augustine. This situation has already caused me to take a leave of absence earlier this year, delaying my studies and affecting my mental health. The potential loss of my home adds immense stress and threatens my ability to continue my education.
I am urgently appealing to TTMB’s leadership to consider my circumstances and implement a reasonable payment plan that reflects my current financial capacity. Furthermore, I am willing to explore refinancing options for my mortgage loan or even switch to a different mortgage provider, as I have several individuals willing to serve as guarantors for this arrangement.
I respectfully request that TTMB file a Notice of Discontinuance for this matter to allow me to stabilize my life and preserve my home. With both my parents deceased and no family support, I face this battle alone. I cannot afford to lose my home and be left homeless in Trinidad and Tobago.
Your intervention can not only save my home but also restore my ability to move forward with my life and continue contributing to society as an employed professional and a student nearing graduation. I remain open to discussions and sincerely hope for a resolution that reflects compassion and fairness.
(Paul Sarran is a Political Science student at the University of the West Indies Global Campus in St. Augustine, Trinidad & Tobago.
He is currently in his final year of college and has intentions to become a Political Scientist or an Independent Senator)
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