Absa set to auction off the actor’s home.
Popular actor Mike Mvelase and his family are on the cusp of spending the festive holidays in the streets.
This after Absa obtained an execution order from the Joburg high court to auction off his house in Corlette Gardens, Joburg after the popular actor allegedly failed to keep up with his monthly instalments.
According to the papers seen by Sunday World, Mvelase, who played Khapela in the defunct SABC1 soapie Generations, received R756,000 and an additional R151,200 loan to buy the pad in the northern suburb in 2006.
Mvelase, who also played Sibalukhulu in Isibaya and Moses Dlamini in Z’bondiwe season 3, was expected to pay more than R14,000 in monthly instalments.
But the Umlilo thespian was almost half a million in arrears by the time the bank dragged him to court after allegedly defaulting on his repayments for more than three years. Mvelase had also allegedly been struggling to pay rates and taxes at the City of Joburg as he was, according to the papers, more than R178,000 in arrears as of June this year.
The bank instituted action against the actor on June 29 2016 after he allegedly defaulted on his monthly instalments and obtained judgment against him two months later. The bank further obtained an order declaring the property executable in November of the same year but Mvelase filed a notice of motion to rescind the judgment.
When the bank filed the notice of motion to oppose his application in May 2017, Mvelase had already withdrawn his motion on January 29 and, as result, the property was attached. A fortnight ago the bank obtained the sale in execution order to sell the crib, which is valued at R940,000, in order to recoup what is due