Adrian Goslett, chief executive of Re/Max of Southern Africa, recommends homeowners who are struggling to keep up with the instalments in their home loans contact their banks to find out what options are available to them.
“Should none of the solutions offered by their respective financial institutions prove helpful, homeowners may need to consider their bank’s distressed property sales as a possible solution,” he says, adding: “The worst thing to do during this crisis is nothing. Reach out and explore your options so that you don’t face the risk of losing your home.”