Perspectives on Protecting the Family Home in South African Insolvency Law

There seems no better time than the present to consider the protection of a debtor's home against execution by creditors, whether within or outside of the insolvency system. The sub-prime mortgage crisis and current global economic distress have focused attention on the need to find ways to avoid the adverse consequences of mortgage foreclosures for both debtors and creditors. Unemployment and the rising cost of living have already burdened the social security systems of various countries. It may be difficult for governments that have already directed funds towards saving financial and business sectors of the economy also to address the needs of individual debtors facing possible homelessness as a result of home mortgage foreclosures