Nakuru MP Samuel Arama. Photo/nation.co.ke
Samuel Arama the MP of Nakuru Town West is on the verge of losing his Sh9 million home over mortgage arrears.The MP’s had written an application to restrain Family Bank from auctioning his 0.15ha land in Nakuru Town but the Nakuru High Court dismissed his restrain.Samuel Arama took the loan four years ago and got himself in trouble with the bank after defaulting on his mortgage repayment. The bank was given a go ahead on Thursday after to continue auctioning the MP’s Sh9 million home.Justice Dalmas Ohungo dismissed the suit with costs.“The bank will not be restrained from exercising its power of sale because the amount is in dispute or the debtor has begun a redemption action or because the debtor objects to the manner in which the sale is being arranged,” said Justice Ohungo. if the MP paid the amount due the judge, directed that the bank would be restrained from auctioning the property of Samuel Arama .“If the mortgagor pays the amount the bank claims to be due to it, the bank will be restrained from selling the land,” he said.The bank had hired Jogedah auctioneers to sell the land and intended to sell it at Sh 9,150,000.