It happens in life when one is unable to keep up with monthly mortgage payments. Submit your request for Home Loan Cancellation with an attorney to the bank which will take about ninety (90) days to process. Don’t let financial problems put your credit profile on risk, simply follow proper procedures with the financial institution for bond cancellation.
Home Loan Cancellation Process With FNB
FNB have made the process of cancellation as simple as possible. The first step to take for cancelling a bond or home loan is to issue a request to the bank with an attorney of your choice or appointed. The bank will use that ticket to process the request with their own attorney. Both attorneys (customer vs bank) will liaise with each other.
Provide the bank with a ninety (90) days early notice period pending the sale. This step is required by the bank in order to process the cancellation. You can give in the notice yourself however its better handled by your attorney before the property is placed on the market.
If 90 days notice is received and the bank does not receive a request to cancel the bond within 6 months from this date, the 90 day notice will expire.
FNB Home Loan Contact Details
Speak to one of the FNB consultant on 087 730 11 44 to find out more details on which proper steps to follow when cancelling your bond. You can visit any of the FNB local branches nationwide to inquire more. Alternatively log on to their website on www.fnb.co.za to read more.