I received a bond from ABSA in June 1996 in the amount of R300, 000 I added another R100, 000 in August 2005. My installment was increased at this time to keep the term of the bond the same. The 20 year period of the bond was to end in May or June 2016. However I have since discovered that if I calculate my balance and divide it by my installment of R5000 - I will only finish paying the bond in 2018. Which means I will be paying an additional R140, 000 over and above the original debt. I have since requested ABSA to explain this to me on numerous occasion - 1 May 2012 was the last - but have received no response from them. They only sent me a message to say they are looking into the matter - but no further contact have been forthcoming. PLEASE HELP!
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