Mzansi star and SAMA award-winning singer Zahara is about to lose her townhouse as the bank aims to auction it. This is after the songstress’ six SAMA trophies got stolen from her townhouse last week.
A local publication reports that creditors of the residence in Roodepoort, west of Johannesburg, could put up her house for auction on May 7 after obtaining an execution from the Johannesburg High Court.
The publication reports that she’s been at loggerheads with Nedbank for struggling to repay a R1.9 million loan.
The bank filed for eviction on 6 April 2018 and also compelled the Loliwe singer to settle the amount or risk losing her house.
The papers from the bank read as follows:
“On or about July 25 2012 and at Johannesburg, the plaintiff, duly represented, and the defendant concluded a written agreement of loan, subject to the terms and conditions contained in the loan agreement. The plaintiff agreed to lend the defendant, who agreed to borrow from the plaintiff, the sum of R1.9 million upon security with the property [address withheld].”
“The loan would be advanced to the defendant or on the defendant’s behalf, after registration of the mortgage bond and subject to compliance by the defendant with the terms and conditions of the loan agreement.”
It is now revealed that the court granted an execution order against her house in October 2019 after she had allegedly stopped paying the monthly repayments for nearly six months.
Zahara did not respond when a notice was issued on 9 February which breached the settlement agreement with the bank.
Zahara told the publication that her failure to service the loan had been due to financial difficulties she had experienced during the Covid-19 lockdown regulations.
“I obviously couldn’t pay during the hard lockdown, but I’ve been making up payments over the past months. I paid R100 000 in December and followed that up with another R80 000 in February, paying the account in advance.”