Please read the following, but in short, the homeowner stated the following in an affidavit to the Courts which resulted in the Bank vacating the Judgement and paying all costs associated with the Court action:
“It is the Applicant’s intention to settle the arrears with the lawful holder of this debt.”
The Bank’s in Ireland have yet to admit to one single homeowner that they have included one single Mortgage in a Securitization Tranche, the fact is, each tranche included up to 40,000 mortgages and there were many many tranches!
This country desperately needs either:
1. A whistleblower from each Bank who will provide the detail contents of each of their respective Banks securitization tranches.
2. Legal representation which will petition the Irish Courts for complete disclosure of the contents of these Securitization Tranches.
Banks are instituting home repossession proceedings in which they have no Legal Standing, the Courts are wittingly or unwittingly complicit in this fraud.
Bank’s will respond to requests for access to original loan documents by offering copies and denying inclusion in securitization tranches, they will also go as far a including in the terms & conditions of these tranches direct instructions that the “mortgagor is not to be informed of the Securitization transaction”.
This in itself is suspect and very questionable in that the Bank may well be in contravention of the original contract by making the mortgagor part of a subsequent contract which they have no knowledge and in fact as such, no liability.
Mortgages which have been securitized have removed the Bank as the entity with claim over the home if the mortgagor ceases payment as they have recouped their outlay by selling the Mortgage.
The “new” entity which assumes it has claim rights over the home is in fact, simply a speculator who has taken a gamble that the mortgagor will stay the course of the original loan schedule, and that is simply a bet, the new entity which assumes it has claim rights over the home is not a party to any contract with the mortgagor and therefore has no right of claim and in the event the mortgage is not paid, the new entity must resort to the Bank for satisfaction.
Educate yourselves, people of Ireland, people all over the world are and the result below is evidence.
Dear Awaken Longford
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 Awaken. 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.
THE NEW ECONOMIC RIGHTS ALLIANCE