Absa Home Loans

My dad retired in 2017 and immediately went to the bank to get a settlement amount on his home loan. A lady assisted him and wrote the amount on a piece of paper (My dad still has the page with him). He then went to deposit said amount into ABSA's account on 20/07/2017. In his mind his debt was settled.

No one explained to him that he had to cancel things like insurance on the house as well as life insurance premiums.

Now the problem is. A few months ago he went to the bank to change his will and he got a nasty surprise. Apparently he still owes the bank over R100 000 for insurance and things we don't really understand.

How on earth can you tell a 70year old that he owes the bank that amount after 7years. He doesn't have that kind of money. Why didn't they reached out to him when they noticed the amount kept on growing and he never paid towards the "new debt". Now ABSA wants him to pay that money and if something happens to him they will probably sell the house and take their cut and give what's left to my mom. I feel that if the bank official explained everything to him he would've been in better position to make informed decision at the time. She didn't write any information on the piece of paper that was given to my dad other than the settlement amount and the account details into which account he should pay the money in.

Please assist and advise on how we can resolve this issue.

Regards, Nadia