Money Matters: How to avoid foreclosure

The biggest mistake people do when taking a home loan, is to sign documents without reading the content after their home loan has been granted.

This is according to Igshaan Higgins, attorney at De Klerk & Van Gend Attorneys.

Banks secure themselves so well, there's pretty much nothing you can do in order to prevent foreclosure

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

Foreclosure is the legal process where a home loan lender takes possession of the property of a home loan borrower who has fallen behind on their payments to the lender.

I've seen situations where banks would call someone for paying six rand short of their bond

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

According to Higgins, banks are diligent in trying to make people to stick to their home loan agreement, which is why foreclosure becomes non-negotiable.

If the bank decides to use the most expensive attorneys, that's what you agree to pay if you default. The consequences are severe

Igshaan Higgins, Attorney at De Klerk & Van Gend Attorneys

Higgins says that a person who defaults on their home loan payment risks paying high legal costs for banks when they face foreclosure.

He spoke to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo on the weekly Money Matters feature.

Listen the conversation below:

Read More
'Haiti is the missing piece in the AU'

'Haiti is the missing piece in the AU'

Ambassador of Haiti to South Africa Jacques Baril describes Haiti's historic relationship with the African continent.

'Having sex will not make you cleverer'

'Having sex will not make you cleverer'

Neurologist Professor Girish Modi describes the effect of sex on one's memory.

Money Matters: Understanding an endowment policy

Money Matters: Understanding an endowment policy

Discovery's Head of Legal Services Harry Joffe describes on #NightTalk relevant information about endowment policies.

How to survive a hostile job interview

How to survive a hostile job interview

Recruitment specialist Candice Martin describes how one can get past a hostile job interview

'State must apologise and compensate Marikana families' - legal representative

'State must apologise and compensate Marikana families' - legal representative

SERI's Nomzamo Zondo describes the process the families of injured and killed Marikana miners have gone through to get compensation from the state.

Recognising the experience of women in South African mines

Recognising the experience of women in South African mines

Dr Asanda Benya has done work to put under the spotlight the role of women in the occupational culture of South African mines.

Popular articles
Home Affairs takes on Oppenheimer family over VIP airport terminal

Home Affairs takes on Oppenheimer family over VIP airport terminal

The department's DG Mkuseli Apleni says Home Affairs cannot simply grant special immigration services to this wealthy family.

Driving lessons to be incorporated into SA school's curriculum

Driving lessons to be incorporated into SA school's curriculum

Spokesperson for Transport Minister, Dipou Peters, says learners will be given an opportunity to become good and safe drivers.

LISTEN: I paid for sound system from my own personal account - Phahlane

LISTEN: I paid for sound system from my own personal account - Phahlane

Acting National Police Commissioner Khomotso Phahlane says he paid for his R80 0000 sound system at his house in Pretoria.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…

Public servants to have their red carpet moment at SA politician awards

Public servants to have their red carpet moment at SA politician awards

The brains behind the South African Politician Awards denies that he is hosting the event to rub shoulders with political bigwigs.

Newly qualified doctors turn down health department posts - Motsoaledi

Newly qualified doctors turn down health department posts - Motsoaledi

Health Minister Aaron Motsoaledi says despite placing all newly qualified doctors, these doctors are declining the positions..

How a family butchery became the first Pick n Pay in Diepkloof

How a family butchery became the first Pick n Pay in Diepkloof

The Monageng family started with their mom–and–pop corner butchery in 1972 and now have partnership with Pick n Pay in Soweto.