An elderly woman from Kiambu County was distressed after the loan lender repossessed her Ksh15 million rental home in Kangundo Road.
In her narration shared by Derrick Mbugua, the lady who worked in the US for six years as a caregiver lost her investment after failing to repay a Ksh800,000 loan.
According to the 50-year-old lady, she began the construction of the rental apartments in 2021 but later sought a loan from a local lender.
She got Ksh800,000 to be repaid within six months at an interest of 15 per cent monthly, totalling Ksh1.2 million.
However, during the six months, her husband was diagnosed with cancer, hospitalised, and unfortunately passed away.
The financial constraints did not allow her to repay the loan within the stipulated time. Initially, she agreed with the lender to sell the building valued at approximately Ksh15 million to repay the loan.
However, in December 2022, the lender reportedly raided her apartments, demanding Ksh4.5 million from the lady.
"As we speak, my case is in court. I took a loan of Ksh800,000 but they are asking for Ksh4.5 million. We are in court to find out how that amount was calculated," she explained.
After several visits to the court, the lady temporarily got access to the building, only for the lender to unsettle her in January 2023.
The lender sent goons to the building, where they evicted the tenants and assigned goons to stop her from accessing the house.
"He came to my house and disconnected the water and electricity supply forcing all my tenants to move out. Right now I do not know where the rent goes," she narrated amidst tears.
The 50-year-old, who currently stays with a friend, called upon the government to help retrieve her house and find a way to service the loan.
