Showing posts with label Mortgage. Show all posts
Showing posts with label Mortgage. Show all posts

Saturday, October 20, 2012

South Africa: A Great Victory!





REPUBLIC OF SOUTH AFRICA
19 October 2012

Dear Friend,

WOW!

A house that was literally hours away from being sold on auction, has just been turned around and Standard Bank has abandoned the whole thing, including their judgment.

The day before Mr Michael Plumstead was about to watch his family home being auctioned, an urgent application was brought before the Port Elizabeth High Court. Among other things, Mr Plumstead (the Applicant) stated the following:

"15. It is the Applicant’s intention to settle the arrears with the lawful holder of this debt."

The auction was temporarily suspended by the Court… but then suddenly the bank backed down. The entire case was removed and the bank agreed to pay all legal costs. See the attached notice.

Now… why would a bank abandon all their hard work and withdraw a case when the debtor agreed to pay the arrears? Well, look at the words carefully: Mr Plumstead agreed to settle with the “lawful holder of this debt.”

If you read the supporting affidavit of the Plumstead Case on page 19, you will see the securitisation argument. You can view the full document here: http://downloads.newera.org.za/NewERA/PlumsteadCase.pdf.

Once again NewERA maintains the following: If your loan has been securitised, not only has your legal status with the bank changed, but your debt with the bank no longer exists.

If you do not understand this, or believe “so what, the debt must be paid anyway” then think again. It is vital that you listen to these audio interviews to see that in fact all parties have been paid out.

This knowledge can save not just houses, but assets of all kinds. But... you need to research it yourself. Don’t expect a hand-out. It is up to you to learn the truth.

Banks are not being open about securitisation. See for yourself by asking them simple questions like those found here. We are preparing a march to demand this information from the banks. To join the march, either in person or virtually, click here.

This is our chance Will. We can wipe clean the slate and begin a new era for South Africans that will set the scene for the rest of the world. All you need to do is see this for yourself. The place to start is by listening to these audio interviews.

Tell the world to join www.newera.org.za and please sign up for paying membership here, or make a donation here

THE NEW ECONOMIC RIGHTS ALLIANCE



Monday, February 27, 2012

MERS's Business Model Is Illegal
New York's U.S. Bankruptcy Court Rules

This just in from the Huffington Post. Huge good news for beleaguered home owners in this down economy. 


United States Bankruptcy Judge Robert Grossman has ruled that MERS's business practices are unlawful. He explicitly acknowledged that this ruling sets a precedent that has far-reaching implications for half of the mortgages in this country. MERS is dead. The banks are in big trouble. And all foreclosures should be stopped immediately while the legislative branch comes up with a solution.
Its business model makes it impossible to legally foreclose on any mortgaged property registered within its system -- which includes half of the outstanding mortgages in the US. MERS was a fraud from day one, whose purpose was to evade property recording fees and to subvert five centuries of property law. Its chickens have come home to roost.