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Home Loan Arrears Payment during the legal processHome Loan Arrears Payment during the legal process

Banking »Posted 21 Nov 2019 Post Answer

legal question Hi,

My question is as follows. I took out a home loan from ABSA 13 years ago to the value of R1,3 million. I have been paying the loan until the beginning of 2019 when I lost my job and could not pay anything towards the loan.

By August 2019, the arrears have accumulated to the value of R70,000 and the bank applied to the High Court to re-possess the property. I was issued with summons in September. The full outstanding amount is in the region of R500K.

Since the summons were issued, I filed an Intention to Defend in the stipulated time period and a counter plea also in the stipulated time period.

The bank then filed an affidavit in response to my counter plea and applied for a summary judgement on or as soon as possible after 26 November 2019.

I have, however, started a new job in October 2019 and on 26 October 2019 paid R50,000 towards the arrears. I will pay an additional R50,000 on 25 November 2019 (when I get my salary for November) which will bring the arrears up to date.

My question is what is the best way to approach the situation? Do I contact the bank with the latest developments and ask them to withdraw the case? Do I go to court on 26 November and explain my case to the judge? Or do I file an affidavit to the judge before that?

I am trying to pay all the arrears before the date 26 November 2019, so can't afford to go to a lawyer, hence asking on this forum...

Thank you!

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