Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Mom in shock as home sold for R5 000 in auction
Cape Times
|May 06, 2025
A SINGLE mother of four is facing eviction after falling in arrears with her home loan, and after several legal battles spanning nearly four years, her house was sold last month at auction for a measly R5 000.
Patricia Mzamo is devastated, as she has no idea where she and her children will end up. She does not dispute that the bondholder over her Randburg home - SA Home Loans - followed the legal route in trying to obtain payment after she fell in arrears.
But Mzamo's question is, why was the property sold at auction for R5 000, while she all along tried to negotiate a settlement with them?
She said she was shocked when she recently received correspondence from SA Home Loans' lawyers that the property was sold at auction on April 2 for R5 000 and that the transfer process is under way.
According to SA Home Loans, the current balance on the bond is R1 029 178.72, while the arrears is R582 790.37. She was informed that once the purchaser had complied with the requisite provisions, the purchaser may take possession of the property, and she therefore had to vacate the property as soon as possible.
This story is from the May 06, 2025 edition of Cape Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Cape Times
Cape Times
Agriculture Department rejects claims of regulatory collapse in fertilisers and farm feeds
THE Department of Agriculture (DoA) has dismissed claims by the Southern African Agri Initiative (Saai) that the regulatory system responsible for approving fertilisers, pesticides, farm feeds and veterinary products is facing a \"total administrative breakdown.
2 mins
November 26, 2025
Cape Times
Oosthuizen warns Blitzboks must hit the ground running
VETERAN Blitzbok forward Ryan Oosthuizen feels that every match at the Emirates Dubai 7s tournament this weekend will be like a knockout match and warns that a slow start could prove costly to their ambitions of beginning the 2025/26 HSBC SVNS Series on a high.
2 mins
November 26, 2025
Cape Times
Nedbank to pay Transnet R600m in confidential settlement
Bank and parastatal agree to end litigation, and settlement is made without any admission of liability
2 mins
November 26, 2025
Cape Times
Vodacom invests over R1.1bn to boost network infrastructure across KwaZulu-Natal
VODACOM KwaZulu-Natal has announced a major investment of more than R1.1 billion in network infrastructure for the current financial year (FY2026), reinforcing its commitment to expanding connectivity and accelerating digital inclusion across South Africa's most populous province.
1 mins
November 26, 2025
Cape Times
Transnet celebrates milestone of 200th Traxx 23E locomotive
TRANSNET recently celebrated a pivotal milestone in South Africa's industrial and economic recovery, as the 200th state-of-the-art Traxx 23E locomotive rolled off the assembly line.
1 min
November 26, 2025
Cape Times
South Africans are still battling the effects of long COVID
\"I FEEL better, but my mind isn't the same.\" Four years after the height of the COVID-19 pandemic, such comments are still heard regularly in many medical practices in South Africa. What began as a respiratory virus seems to have left a lingering mark on some people who were infected.
3 mins
November 26, 2025
Cape Times
Octodec Investments boosts dividends amid resilient inner-city portfolio performance
OCTODEC Investments, a prominent JSE-listed Real Estate Investment Trust (REIT) primarily operating in Tshwane and Johannesburg, has reported a 7.6% increase in its full-year dividend, now standing at 134.5 cents per share for the year ending August 31.
3 mins
November 26, 2025
Cape Times
Van den Berg warns depleted Wales will 'chase lost causes'
SPRINGBOK scrumhalf Morne van den Berg says South Africa cannot afford to underestimate Wales in Saturday's Test at the Principality Stadium, warning that a patched-together Welsh side will still bring the trademark fight, physicality and defiance that South African teams have come to expect in the north.
2 mins
November 26, 2025
Cape Times
FRANK STEWART BRIDGE
TIME FLIES
1 mins
November 26, 2025
Cape Times
Activists haul government to court over claims of citizens fighting for Israel
ATTORNEY and human rights defender Ziyaad Ebrahim Patel and Safoudien Bester, a Palestinian Solidarity activist have launched a high court application to hold the government accountable to its international and other obligations following allegations that a group of South Africans was unlawfully serving in the Israeli Defence Forces (IDF) in the armed conflict in the Gaza Strip.
1 min
November 26, 2025
Listen
Translate
Change font size