South African farmers subjected to land expropriation without compensation will still have to pay off their debts for property which has been seized by the state, according to a major bank.
In an email from Nedbank widely circulated on social media, now confirmed as genuine by Head of Group Media Relations Kedibonea Molopyane, according to The South African, farmers are warned that their debts will have to be paid in full even after their property is confiscated by the government.
It reads as follows:
“It is important to note the Home Loan agreement is subject to a contractual agreement, and bond payments remain due and payable until such time that the bond is paid in full irrespective of any form of land expropriation – with or without compensation. We would encourage you to continue with the bond payments until such time a determination is made.”
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7 comments:
How about....NO
Right dream on, how about the ones taking over the farms pay the balance?
Yea and I say wait for it
Coming to SBY, just you wait!!!! Oh it is already here in the form of taxes, and if you don't pay, they take your home, either you owe or not and you still have to pay the mortgage if you owe... Same thing with the water bill or sewer bill, don't pay it, they condemn your house, kick you out, and you still owe taxes and the loan if you have't fully paid off the house yet.. NO different than if you bought a new car and totaled it coming off the lot, you still owe the bank the money no matter what, it just happens, the insurance companies might give you some value back, and the GAP insurance might help to, but without that, you would still owe 100% of whats left on the loan... That is a part of why the housing bubble happened... People said forget paying a loan on a house that is not even near the value of what you are paying for it so they walked away, and the banks were left there standing... Funny thing is, it was all a shame becasue the banks never give you actual monies, they give you 1's and 0's, computer generated, cost nothing to make digital monies... This is why you people are obtuse, you won't pay attention and research... IF you did you would know the reason why the banks lent out so much money... They had to in order to make money... You see, when they push the button and create the loan out of thin air, that is not real money, but you pay them back that money plus interest, now that is real money and that is how the banks made so much money during the housing crisis... Look up "Victoria Grant and public banking" in you-tube and she explains what I am saying way better and to the point... It amazes me a 1- year old can figure it out, but you people here in SBY can't seem to understand anything about anything...
3:37, and what is your lazy ass going to do when 10 to 12 swat team cops show up to remove you from your house for something like this??? You will bend over and say thank you sir may I have another, that's what!!!!! Then when the banks come knocking and you won't pay, you will go to jail, simple as that...
Really??!!
yep socialism at its finest government take and you still pay
LOL, LMAO, STILL LAUGHING, Freaking Jungle animals want to kill them, then take their land, and make them pay for it.... Animals, it will be worst than Haiti in 3 years. LOL
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