Refused a mortgage loan in South Africa in 2023?

by | Jan 6, 2022

Home Loan

Earn a Good Salary but still refused a mortgage loan in South Africa?

Refused a mortgage loan in South Africa

Perfect solution for the distressed property market

Real Estate Assist has the perfect solution for the distressed property market and distressed homeowners and property owners that want to keep their homes and not lose them due to foreclosure or auction or eviction.

South Africans are earning more money than ever before, but many are still living below the poverty line. South Africans’ credit scores are also notoriously bad, with over 10% of South Africans reporting they have no access to credit. This makes it difficult for these South Africans to enter into contracts and loans. If you’re one of those South Africans that make a good salary but end up in mortgage repossession or eviction because of your bad credit score, this blog post is for you!

Why are South Africans still in mortgage trouble despite earning a good salary?

It’s no secret that South Africa has one of the highest levels of income inequality in the world. This is also reflected in our high levels of mortgage repossession and eviction. Despite earning a good salary, many South Africans still find themselves struggling to keep up with their mortgage payments.

The main reason for this is bad credit scores. South Africans have some of the worst credit scores in the world, and this is preventing them from getting favorable mortgage rates. This means that they are forced to take out high-interest loans, which they can’t afford to repay.

Get out of Debt and keep your property

How to Repair credit Status in South Africa

If you’re struggling to keep up with your mortgage payments, don’t despair. South Africans can still keep their property and stop the auction. Real Estate Assist in South Africa specializes in helping South Africans with good salaries who have found themselves evicted from their homes and properties because of bad credit scores. If you’re struggling to keep up with your loan repayments, contact them today for a free consultation and mortgage debt Solution in South Africa! Real Estate Assist has stopped many auctions and foreclosures and helped homeowners get back on their feet and repair their credit status.

How to Stop Repossession and Eviction in South Africa

Real Estate Assist South Africa is a Real Estate Advisory that helps South Africans who have good salaries but who ended up in a foreclosure situation because of bad credit scores. South Africans with good salaries are regularly losing their South African homes and properties to foreclosure because they have poor credit ratings, despite being able to afford their monthly repayments. Real Estate Assist South Africa has helped many South Africans over the years get back into property ownership by working out a repayment plan that suits their budget. South Africans with good salaries who are struggling to keep up with repayments don’t have to think that they will never be able to afford a South African property again – Real Estate Assist South Africa will help them get back into the South African housing market!

Real Estate Assist is an expert team of property advisors, debt specialists, lawyers, accountants, and debt solution experts that are driven to make an impact in the lives of South African distressed homeowners.

We provide mortgage loan solutions and strategies that will keep you debt-free and ensure you are recovering to homeownership status and

We will discuss 10 steps that will improve your credit score and help keep you out of debt!

10 Steps to Improve Your Credit Score:

  • Check your credit score regularly and dispute any incorrect information.
  • Make sure you’re on the electoral roll.
  • Always pay your bills on time, even if it’s only the minimum amount.
  • Try to keep a healthy balance between your income and expenses.
  • Don’t apply for too many loans at once.
  • Only apply for credit when you need it.
  • Don’t use your credit card to withdraw cash.
  • Keep an eye on your credit utilization rate.
  • Try to have a mix of installment and revolving debt.
  • Get a copy of your credit report and score from a reputable source

Contact us for assistance regarding your real estate in South Africa and mortgage debt challenges and we will provide strategic and actionable steps toward your financial goals.

Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered legal or property advice. We do not take responsibility for any actions taken based on the information provided in this blog. It is always recommended to seek professional advice for your specific legal or property needs. Contact us (Real Estate Assist) if you seek such advice and we will appoint a professional from our team to be of assistance.

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Please Note: We are unable to provide assistance if you do not own a property. Real Estate Assist specializes in helping property owners who are experiencing challenges with their mortgage payments. If you own a property and require support with debt consolidation without going through the debt review process, our team is here to help you explore options to unlock the equity in your home for necessary family matters.

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