Understanding Foreclosures
How can you prevent the bank from foreclosing on your property?
Private Sale
The best way to save yourself from a situation where you are being foreclosed on and you cannot afford to make payments of the arrears alternatively the monthly bond instalments or both, is to sell your house privately and get the transferring Attorneys to urgently provide the foreclosure Attorneys with copies of acceptable guarantees which are approved by the Bank or Financial Institution on the private sale as this is generally the only reason why a foreclosure would be “pended” pending registration of the transfer and full payment to the Bank or Financial Institution of all amounts due to them;
Alternatively;
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