Mom in shock as home sold for R5 000 in auction

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.

- ZELDA VENTER

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.