Today, a bank can’t auction your house for a song

A reader says her lender has informed her that they have secured a court order to auction her family home to recover their debt. “I am disappointed as I had written to the bank to give me a grace period after losing my job three months ago,” she says.

The reader says she had paid off over three quarters of the mortgage, but worries she might walk out empty-handed. “I am scared because the bank may sell the house at a throw-away price to recover the Sh3 million I still owe,” she says.