Is Teko Modise about to lose his home?

Is Teko Modise about to lose his home?

Mar 24, 2015, 12:38 PM

Uh-oh! Things are apparently going bad for Teko Modise. The Mamelodi Sundowns player, who is launching his own fashion label soon, might become homeless soon.

According to Sunday Sun, Teko, who apparently earns R400 000 a month, will be kidkced out of his Ruimsig home in Johannesburg. The star reportedly can't keep up with his bond repayment.

According to the paper, the South Gauteng High Court granted Home Obligors Mortgage Enhanced Securities Limited an order to repossess Teko's house and sell it on auction.

"Even though neither Modise nor his legal representatives were in court, Judge Wright proceeded to deliver the ruling against Modise," the paper reported.

Sunday Sun reported that according to court papers in their possession, the soccer player has been defaulting on his monthly repayment bond for over 10 months. He is reportedly in arrears of R130 364,88 and he is said to have made his last monthly bond payment before 6 December 2014.

The company allegedly claimed they have the right to administer Teko's account from Absa Bank in 2010 when he bought the house.

"On 2 November 2010, Absa Bank Limited ceded its right and title to Home Obligors Mortgage Enhanced Security Limited, but retained the right to administer the account," said the company.

According to the paper, the company said they lent Modise R2 million in the form of a mortgage home loan to buy the house.

"The instalment repayable would be calculated according to the variable interest rate from time to time and as of the date of issue of the summons, the instalment was an amount of R11 971,22."

The judge reportely also ordered Teko to pay the cost of the lawsuit. The soccer player was apparently not available for comment and his manager, Jazzman Mahlakgane, said he doesn’t comment on Teko's personal matters.

Written by

ZAlebs Team

Don't miss out

Sign Up For Our Hot Newsletter

Leave a comment

Don't miss out

Sign Up For Our Hot Newsletter