Louise du Plessis, land and housing programme manager at Lawyers for Human Rights says the way repossessed homes are sold at public auctions below market value is very concerning.
Du Plessis says this is a Constitutional violation of property owners.
There must be a reasonable reserve price, the lack of requirement for reserve price is a problem.— Louise du Plessis from Lawyers for Human Rights
Du Plessis argued that the lack of judicial oversight over these processes has led to considerable consequences for the debtor, including those with Constitutional implications.
Asked about banks, she noted that banks have different programmes in place to deal with the matter.
In comparison to other countries, South Africa has one of the highest percentages of defaulters losing their homes per year.
This article first appeared on 702 : Concerns raised about the way repossessed homes are sold