A posh Johannesburg home worth R2 million that is purportedly in jeopardy of being foreclosed upon because footballer Willard Katsande, who was born in Zimbabwe, has fallen behind on his monthly payments.
The publication claims that earlier last month, the Gauteng High Court issued a default decision allowing SB Guarantee Company to repossess the home of the former Kaizer Chiefs player. Standard Bank’s guarantee division is known as SB Guarantee Company. Court documents allegedly show that Katsande’s debt payments had risen to R200 611 after he skipped roughly eight installments.
This is an uncontested motion for default judgment and an order declaring the respondent’s real property to be subject to execution.
The arrears and the total amount have grown since the summons was issued. The corporation reportedly stated in court that the arrears and outstanding debt have not been paid since the issuing of summons. The corporation has submitted paperwork to the court requesting a seizure in order to protect the property.
Local government has estimated the worth at R1,550,000. The forced sale value is R1,760,000. Total unpaid taxes and rates amount to R59 344, extra R23 237. When asked by the media outlet about his financial situation, Katsande revealed that he is simultaneously making payments on two homes. He further explained that he uses the surplus revenue from his company to finance the R2 million Joburg property. Boss ya Mboko is the name of the apparel business co-founded by the former soccer player and his wife.
The second mortgage payment is deducted from my checking account via a debit order, and the remainder of my monthly expenses are paid using my bank’s mobile app. Due to an app glitch, I only ended up paying one of the required bonds. Furthermore, he said he contacted the bank’s attorneys after being served with legal process. At the end of January, I sent in the initial installment and a portion of what I owed in back payments. I think we’ve got everything squared away,” he declared.