Homefund Hotline Rushed
Sydney Morning Herald
Saturday February 26, 1994
More than 11,000 HomeFund borrowers have swamped a special telephone information service to seek legal and financial advice on the Government's loan restructuring package.
The chief executive of the Home Purchase Assistance Authority, Mr Lawrence Adams, said that in the 10 days after the mail-out of information kits on the restructure, 2,000 borrowers had already returned forms applying for reassessment under the scheme.
Under the $400 million rescue package, the 26,000 HomeFund borrowers would be divided into categories, with some encouraged to refinance, while those who could not manage commercial repayment would be given financial assistance or relocated to public housing.
Of the calls received so far, the majority of borrowers requested help in deciding their categories under the restructure, and the remainder required further legal and financial advice.
© 1994 Sydney Morning Herald