Foreclosure of Primary Home Mortgages in Namibia: Towards Efficient Judicial Oversight
Résumé
Mortgage foreclosures represent a significant and contentious issue, particularly when they pertain to individuals’ primary homes. Foreclosure inherently creates a conflict between two opposing interests: the mortgagee’s entitlement to enforce their security and the imperative to alleviate the severe repercussions of displacing the mortgagor and their family, which could lead to homelessness. In Namibia, the relevance of mortgage foreclosure concerning primary homes is exacerbated by a persistent housing crisis; thus, displacing a mortgagor and their family contributes to the alarming statistic that about 25 per cent of the population lacks access to adequate housing. The interplay of interests among the mortgagor, the mortgagee and external entities such as the government necessitates a careful balancing exercise in the enforcement of mortgage foreclosures. The execution of foreclosures on primary homes in Namibia is primarily governed by rule 108 of the High Court Rules, which mandates judicial oversight prior to declaring primary homes specially executable. This article contends that the existing regulatory framework in Namibia does not adequately reconcile the competing interests associated with the foreclosure of primary homes. Based on the results of a comparative analysis, this article ultimately proposes the promulgation of a comprehensive foreclosure regulatory framework.
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