|
| The purpose of this section of our
website is to bring to consumer's
attention any issues in the news
relating to SAHERPA and it's related
activities. While we will try to keep
this as up to date as possible, it is
possible that we will miss things at
times. So, if you come across something
in the news or press that relates to
SAHERPA, and it is not reflected here,
please bring this to our attention. |
 |
|
Relief in sight at last - Reverse Mortgages
/ Home Equity Release become a reality in SA |
|
"SAARP has
had a carefully nurtured
dream of being able to point
members, often long retired
and overrun by the ravages
of inflation, toward a
possible financial solution
if they are property owners.
SAARP is proud to announce
that SAHERPA (the South
African Home Equity Release
Protection Association) has
now been established after
much research, negotiation,
time and effort by many
providers who have applied
for membership of SAHERPA".
Source: SAARP Bulletin,
September 2007. |
|
BACK |
|
|
|
News Alert! - Reverse mortgage loans
|
|
"We once
again, would like to alert
SAARP members and senior
citizens in general that the
process of obtaining reverse
mortgages is a potentially
dangerous means of
financing. These steps
should not be entered into
lightly and then only with a
reputable company. For this
reason SAARP requested the
Government to introduce some
form of control through
legislation as means of
protection. When the request
was not successful, SAARP
was instrumental in
establishing SAHERPA, a body
established by all the
stakeholders in the industry
to safeguard the interests
of the senior community.
SAHERPA, with its strict
codes of conduct and
registration criteria,
ensures that only reputable,
reliable companies are
members. We encourage our
members and senior citizens
to only use a SAHERPA
registered body when
considering a reverse
mortgage loan on their hard
earned properties". Source:
SAARP Bulletin, December
2007. |
|
BACK |
|
| The purpose of this section of our
website is to bring to consumer's
attention other items in the news or of
general interest as far as Home Equity
Release products are concerned, in the
broadest possible context. |
|
|
|
Pensioner wins court case
against mortgage scammers |
|
Many companies will
claim to offer Home Equity
Release products. The
products might all look the
same, the reality however is
that small differences in
product design can have a
material impact on
customers. This article
reports on the drama that
unfolded for an unfortunate
pensioner that did business
with a provider that was not
accredited by SAHERPA.
Source: Saturday Star, March
2009 |
|
BACK |
|
|
|
| As one can imagine, this particular
body of reading cannot be expected to be
exhaustive, as a consequence, it is
provided for consumers' information
purposes only so that they may secure a
broader understanding of the industry. |
|
|
