C ouple fights for house

A DAVEYTON couple is accusing a reputable bank of trying to repossess a house they paid off 11 years ago.

A DAVEYTON couple is accusing a reputable bank of trying to repossess a house they paid off 11 years ago.

Lizzie and Seeko Makholo claim that Nedbank, through its attorneys, is demanding R42 000 under the pretext that they had failed to pay their home insurance premiums over 11 years.

The Makholos' problem started when they paid their house off in 1997. Their home loan was never cancelled though they maintained that they settled the account.

They said they never paid any premium after paying off the bond and did not cancel their bond to get their title deed from the bank's attorneys.

Their home insurance never lapsed like any insurance if premiums are not paid for three months.

"We have never heard of any insurance that accumulates debts when not paid, but ones that lapses when payment is not made for three months," said the couple.

Lizzie said she was 53 when she applied for a home loan.

"Paying my bond off was always my dream so that I could truly own my house."

At age 61 she retired and requested her employer, the department of finance, to pay her home loan first before they released the balance of her severance package to her.

"I also requested the bank personnel to cancel the home insurance since I was no longer employed," Lizzie said.

She claims that she heard nothing from the bank until October 2008, when Nedbank sent them a letter demanding R42 501.

On enquiry Lizzie was told that her home insurance was kept alive all those years and she had to pay the amount.

She argued that any insurance expires if no payment is received within three months, but Nedbank responded by sending her matter to their attorneys Van der Meer and Schoonbee who then sent her further letters of demand.

"The attorneys, too, could not explain why the home insurance was kept alive for more that 10 years without my knowledge," Lizzie said.

She said the attorneys later told her they had made a mistake by demanding payment for unpaid insurance when they should have demanded arrear payments for the bond.

Lizzie then produced her proof of payment to show the attorneys that the house was paid in full and only then did the attorneys agree to cancel the bond .

After paying a cancellation fee, the attorneys told the Makholos that there was an attachment order on their property and they could not get the title deed.

"How did this happen, why was the insurance not cancelled when the full balance that was made in 1997 and why was it allowed to accumulate R42 000?" asked a baffled Lizzie..

Nedbank is investigating Mokholo's matter.