SOUTH-AFRICA-BASED former Warriors captain Willard Katsande is reportedly on the brink of losing his R2 million luxury Johannesburg house after he defaulted on his monthly instalments.
According to the South African newspaper, Daily Sun, the Gauteng High Court granted SB Guarantee Company a default judgment to repossess the former Kaizer Chiefs player’s house earlier this month.
SB Guarantee Company is a subsidiary of Standard Bank.
The court papers reportedly reveal that Katsande’s loan payments have increased to R200 611 after he missed about eight instalments.
“This is an unopposed application for default judgment and an order declaring the immovable property of the respondent executable.
“Since the issuing of summons, the arrears as well as the outstanding debt have escalated. One would realise that since the issuing of summons, the arrears as well as the outstanding debt, has not been paid,” the company reportedly said in court.
In the papers, the company applied for a court order to secure the property.
“The forced sale value is R1 760 000 and the local authority valuation is R1 550 000. The outstanding rates and taxes owed is in the amount of R59 344, plus R23 237.”
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Speaking to the outlet, Katsande explained that he is currently paying for two houses. He added that he pays for the R2 million Joburg home with the extra money he gets from his business.
The retired soccer star and his wife have a clothing line called Boss ya Mboko.
“The other payment goes out via a debit order and the other house (I) pay via my bank app.
“There was a technical problem with the app that led me to paying one bond and not paying the other.”
In addition, he said he got in touch with the bank lawyers after receiving summons.
“I made the first payment at the end of January and I also paid some money towards the arrears. I think everything is sorted,” he said.
Katsande spent a decade at South African glamour club Kaizer Chiefs. In the prestigious decade, Katsande was pivotal in Kaizer Chiefs winning the coveted Premier Soccer League and the Nedbank Cup in 2013.
The former Warriors captain, Katsande, having turned the tide at Naturena and went on to become the biggest winner at the Kaizer Chiefs Awards in May 2014.
He walked away with the Players’ Player of the Season, May Player of the Month, Fan Player of the Season and Online Player of the Season and Player of the Season awards.
He pocketed more than R200 000 from that event in total prize money after taking home most of the awards on offer.
Now with an ambassadorial role at Sekhukhune United after rolling the curtain on his playing career, Katsande has been focusing on his “Boss Ya Mboka” clothing line brand in partnership with his wife Bonga, a South African national.