The Durban High Court held that SA Home Loans had unlawfully sold and transferred her home. The Deeds Office was instructed to revive her title deed.
It’s rare that a customer wins a case against a bank, so here’s one for the history books.
This comes in the same week that Human Settlements Minister 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.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.
Should the defaulting borrower again settle the arrears, the mortgage bond is again reinstated, and so the process continues. She was vindicated in the Durban High Court when Acting Judge Harrison declared that Naidoo’s credit agreement had been reinstated and that the 2013 judgment against her was without force or effect. For this reason, he set aside the 2021 sale and transfer.The bank was further ordered to pay the auction buyer’s legal costs, including the costs he had incurred in the eviction proceedings.
Let’s hope judges across the country read this judgment, which correctly reaffirms rights that should not have to be argued in court.
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