19 October 2012
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