FNB Home Loan
Anonymous @ 2012-03-15 09:44
Getting a homeloan is not the problem. When times are difficult (I believe that this downturn was created by banks) the wheels come off. I had a written arrangement to settle arrears with FNB (with which I complied fully) and a promise from them to stop legal action. A summons was delivered a month later. Banking Oombudsman did nothing. Later, after arrears fully caught up, they refused debt counselling. When I queried this they said they are looking into it and then applied for my wife's (homeowner) liquidation because of the debt counselling application! If you have a home of high value and a relatively low bond - my bond is about 30% of home value) they go for the house! I am encouraging my children to never utilise bank finance in their lives through saving and investment.
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