Court orders Modise’s house to be sold on auction
FORMER Bafana Bafana midfielder, Teko Modise, allegedly earns around R400 000 a month!
But the Mamelodi Sundowns midfield general can’t keep up with his bond repayment – shocked, with such a fat salary!!
Teko is about to be kicked out of his Ruimsig house in Johannesburg. On Friday, the South Gauteng High Court granted Home Obligors Mortgage Enhanced Securities Limited an order to repossess his house and sell it on auction.
Even though neither Modise nor his legal representatives were in court, Judge Wright proceeded to deliver the ruling against Modise. According to court papers in possession of Sunday Sun, Modise has been defaulting on his monthly repayment bond for over 10 months. The papers show that Modise is in arrears of R130 364,88. The papers also show that Modise last paid his monthly bond before 6 December 2014.
The company claimed they have the right to administer Modise’s account from Absa Bank in 2010 when he bought the house.
“On 2 November 2010, Absa Bank Limited ceded its right and title to Home Obligors Mortgage Enhanced Security Limited, but retained the right to administer the account,” said the company in the particulars of claim. The company said they lent Modise R2 million in the form of a mortgage home loan to buy the house.
“The instalment repayable would be calculated according to the variable interest rate from time to time and as of the date of issue of the summons, the instalment was an amount of R11 971,22,” said the company.
But when Modise breached the agreement of the loan, the company went to the High Court in a bid to recoup its money. Now the company wants Modise to pay the outstanding R1.3 million with interest of 9%.
After the lawyers representing Absa had made their application in court, Judge Wright ordered Modise to pay the outstanding balance.
He also agreed to “declare the immovable property executable”.
The judge also ordered Modise to pay the cost of the lawsuit. Modise was not available for comment but yesterday his manager, Jazzman Mahlakgane, said he doesn’t comment on Modise’s personal matters.
Picture credit: now.co.za