Understanding Foreclosures
What is a foreclosure?
The term “foreclosure” means when a Bank or Financial Institution who has borrowed you money on the strength of a loan agreement or indemnity signed by you, which is held by a mortgage bond or indemnity bond registered at the Deeds Office, institutes proceedings against you due to non payment by you of the monthly bond instalments which constitutes a breach of such loan agreement or indemnity signed by you.
I'm a 30-something South African mother of two. I work for a firm of attorneys and I also run a Herbalife business in my spare time. 