In an article headlined “FNB back-pedals after getting judgment to repossess home”, published in Personal Finance last week, about First National Bank (FNB) having obtained a court order allowing the bank to repossess the home of “Mr R”, it was incorrectly stated that this had happened despite Mr R paying “his full mortgage bond instalment and an additional R300 a month – and has been doing so for the past 18 months”.
The report should have read that Mr R had been paying a “restructured” instalment (not the full instalment plus an additional R300) for the past four months (and not 18 months).
FNB says Mr R has been in arrears in his payments since February 2, 2009 to date.
It was correctly reported that after Personal Finance brought further facts relating to Mr R, including his state of health, to the attention of FNB, the bank apologised to Mr R for taking judgment and instructed its attorneys to rescind the judgment at the bank’s cost.
Jan Kleynhans, chief executive: FNB Home Loans, says the bank is committed to the greatest levels of customer service and acts with the best intentions at all times.
Personal Finance apologises for the errors.