People & News

Repossession solution

Following disturbances in Protea Glen extension 11 in Soweto, the Minister offered to house those dispossessed of their homes in government housing in Doornkop. The Ombudsman for Banking Services, Advocate Neville Melville, has praised her balanced approach in making the deal conditional on the defaulters continuing to make payments to the banks.

The approach, which is both compassionate and mindful of the legal rights of the banks and the need for a stable economic environment, underlines the understanding attitude of the banks towards borrowers experiencing financial difficulties, provided borrowers were honest and did not make unreasonable demands once they ran into difficulties.

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