Tag Archives: home loans

South Africa’s Major Banks Sued

Apologies for less posting the past month. With so many websites, i’m always stretched thin but that was amplified whilst i set up Knysna Crime Watch…and breaking my arm didn’t help at all. Whilst i play catch-up, i’ll point out some news from others, starting with this follow-up and press release from New Era which will undoubtedly be interesting to stressed home owners:

bad banks 300x200 South Africas Major Banks SuedThe Sheriff of the Court has served the four major banks, and the Reserve Bank, with a summons from the New Economic Rights Alliance: Case number 27478/12.

Put simply, the NewERA is asking the High Court to declare our money lending system fraudulent and unconstitutional. We are not suing for money. Alternatively, we are asking the Court to suspend all legal action currently taken against every South African by the banks, until a full investigation has been undertaken into our banking system. Continue reading

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Stop South African Banks from Taking Your Home – Part 1

South African home loan conspiracy 2 stop foreclosure 300x300 Stop South African Banks from Taking Your Home   Part 1In Knysna, where i stay, the holiday boom has crashed and our tourist based economy is reeling in shock and desperation as hundreds of home have flooded the market. It’s a tragedy that’s painful to witness.

When US and European banks screwed over the world, i was a cynic when South Africa’s major banks and the Reserve Banks were quick to say it would not happen here as we’ve got more protection measures in place.

Several months ago, a leading member of the Knysna community told me how the bank was illegally taking over his home. Continue reading

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