It's rare that a customer wins a case against a bank, so here's one for the history books. This week Valerie Naidoo of Chatsworth in Durban - representing herself in court against two advocates overturned the foreclosure of her home by SA Home Loans (SAHL), which then sold the property at auction for a tenth of its market value.
The judge slammed the bank for its "egregious" conduct in pursuing its legal case even though Naidoo had settled her arrears in 2009 and then several times thereafter.
This comes in the same week that Minister of Human Settlements Mmamoloko Kubayi said government plans to change the Home Loan and Mortgage Disclosure Act to enable the state to investigate consumer complaints about home loans and raise penalties for lenders over non-compliance, according to Bloomberg.
Background on the case
Naidoo's case goes back 15 years. In 2009 she fell into arrears on her home loan and received a summons from Changing Tides 17, part of SAHL, to pay arrears of R18 093. Naidoo settled this within a matter of days.
Bu hikaye The Citizen dergisinin August 29, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Citizen dergisinin August 29, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Djokovic unclear on Murray's job
Novak Djokovic would not commit to working with Andy Murray again as his coach after the Serb retired from the Australian Open semifinals yesterday with injury.
Blitzboks off to flying start
The Blitzboks qualified for the knockout round of the Perth Sevens with a game to spare after they picked up two wins on yesterday's opening day of the tournament.
Weekend focus shifts to the battle for survival
It's a big weekend for all six teams in this year's Betway SA20, with the two bottom-placed teams, the Pretoria Capitals and Durban's Super Giants, in must-win matches today if they're to stand any chance of making it into the play-offs.
To save or to invest...
DIFFERENCE: SO MANY BENEFITS FROM INVESTING THAN SIMPLY SAVING
Continental club form very pleasing
I don't know about you but I'm still buzzing over the fact that South African teams are doing well in the Caf inter-club competitions.
Barca have to halt the slide
Barcelona must harness the euphoria of their thrilling Champions League victory at Benfica to halt a miserable run of La Liga form against an improving Valencia side tomorrow.
Rivals look for grunt
DERBY: LIONS & BULLS BOTH ANTICIPATING A MASSIVE PHYSICAL BATTLE
Sinner sets up a classic Zverev decider
Defending champion Jannik Sinner (right) blew past Ben Shelton 7-6 (7/2), 6-2, 6-2 in the Australian Open semifinals yesterday to set up a showdown with Alexander Zverev for the title.
Free Agents dreaming big
Free Agents FC coach Olaitan Oladeru says he still wakes up in the middle of the night and wonders if his ABC Motsepe League side are really playing Kaizer Chiefs in the Nedbank Cup last-32.
Questioning climate change is reasonable
Just as one can talk of an oil lobby, one can also talk of a climate change lobby.
