Friday, July 8, 2011

My Beef with FNB.

I have both my bonds with First National Bank - both bonds are still in both our names (Ex and I) Now the one bond is for the home I live in now - No problems with that one really. I live there, I pay the bond, simple.

Now the other bond is an investment property that J and I bought when he got a big increase at work a few years ago.

We had tenants, but for the last year I have been fighting with the agents due to short payment of rent, late payment of rent, electricity not being paid etc.
So January they were evicted after not paying for 3 months.

My ex has not been paying towards the property either, even though in the divorce agreement it quite cleary states he is responsible for 50% of the costs. He never paid his share of the shortfall when there were tenants in - From January to May he didnt pay his share of the full amoutn at all. Only in June did he make a payment. I recieved a summons that FNB were going to re-posess. I spoke to him - I asked what his plans were (now bear in mind along with a reposessions comes a 30 year black mark against your name from the High Court. )he said no plans?

He said he didnt care.

He said to take the money from the maintenance.

Ja right.

So to prevent me being ruined financially by a repossession my father paid the R18000needed to stop the reposession.

I then decided to put the property on the market through FNB's QuickSells.
Throughout this entire year of me fighthing with the tenants and the agents J has not done one thing. When the banks have called me re the short payments I tell them to call him as it is his 50% owing.They say "he told us to call you"

I get told, by the bank "we dont care about your personal problems Ms Daniels"!

Its a High Court order its NOT a personal problem!

So this last week I decide to rather take the property back as it was not going to sell and the mandate was up. If it goes to auction I am even more screwed! P and I can then attempt to take the property over and cut J out completely.
I approach FNB with the following email:

Please see attached documents as requested.

From experience I know the bank generally don’t care about a person’s personal problems (I have been told as much by staff at FNB) lol but this is something I am really hoping the bank can assist me with.

According to my divorce agreement (attached) my ex is liable for 50% of the costs on bond number ********9442. He however refuses to accept any and all responsibility towards this property. He has told me to take the money out of my maintenance every month – but I can’t. The maintenance is for my children and doesn’t even cover everything that it has to for them. To do that would be to not pay something else. Not really something I want to do. Although over the last year I have had to rob Peter to pay Paul due to non payment of maintenance from his side. I have been making all the payments to Questa Rey over the last year. Fighting with agents re non/short payments. Fighting with tenants re the same. Mr Daniels hasn’t even worried for one minute about this property or the payment thereof. He even went so far as to withdraw the rental money we received from the tenants in January from the One account to pay into his credit card. He only just this last month made an effort to pay the required payment.

I eventually had to put the property on Quick sell as the tenants were evicted and I just cannot pay for the bond on my own. I can barely make it as it is with my other expenses. Hence the reason the One Account is in arrears by a month. My dad sold some shares in order to pay the R17 000 arrears on Questa Rey last month.

He is now threatening to go overseas and work for a humanitarian organisation – therefore not earning a salary therefore not paying me maintenance. He is threatening this as he is “tired of paying me maintenance”. And “wants me to lose everything and be the reason for it”. I have sms and email proof of this. Apparently he has already resigned.

I am looking after two children and it is a battle for me every month to meet the commitments that I have – never mind now having to pay the full bond on Questa Rey.

I do however now have someone that is willing to assist me in paying the bond on Questa Rey..IF I can get tenants. He is willing to assist me in paying the shortfall between the rental and the bond repayment. Him and I will then do a substitution of Debtor when my situation improves.

I would like FNB’s assistance with the following:

1 – If the property does not sell on Quick Sell, I want to take the property back and find tenants. I fear the property going on auction – as my ex will NOT pay towards the shortfall and I don’t have the means to pay the full shortfall nor do I have the means to keep taking him to court. Nor do I think it fair. That could potentially ruin me forever if the property sells for 100/200k below what I owe FNB.

2 – If FNB do agree for me to take the property back – I would like them to agree to a payment holiday for 3 – 4 months in order to give me time to find tenants.

I am truly hoping that FNB are able to assist me in this situation, I have done the best I can with what I have had. My father has put 1000’s into this property and he just can’t anymore.

I really would like to keep it as an investment for my children which was the initial plan when Mr Daniels and I purchased the property. I have been through so much at the hands of this man the last year and this is one area where I require assistance from FNB in order to prevent any further financial problems which could potentially cripple myself and put myself and my daughters , literally, out on the streets.

I look forward to your favourable response,

I get a call back. And you know what thier answer is??


Just like that.


"Because there is not enough equity in the property" They tell me.

So - a bank as large as FNB are not willing to help me. Not willing to help me when I have done EVERYTHING in my power to honour my agreements. I dont think I am asking for a lot? I dont think I am being that unreasonable in my request?


So...FNB...How can we help you?????? #epicfail!


A Daft Scots Lass said...

debt review?

JaneF said...

Sorry about your troubles Tanya, but I am not really sure FNB are at all at fault here. You are in a messy situation, and it is unsurprising they don't want to get involved. But it still sux piles.


MamaMeeA said...

Where is the property? Would you be interested in letting it out privately?

Wenchy said...

This is horrifically scary.

Tanya said...

I am going to try rent it out now....and hopefully take it over myself in a few months. I just need to make a few minor repairs and then I will be renting it out. Its in Wilgeheuwel.