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labor displacement william_
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Re: Balanced Budge Joe Thom
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Re: Balanced Budge martinh
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the reality? william_
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Re: the reality? - Jessop S
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Re: the reality? - william_
Re: the reality? - socred
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Re: the credit the william_
Re:- (social credi Joe Thom
Re: the reality? - Jessop S
Re: the reality? - Joe Thom
Re: the reality? - Joe Thom
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To Kevin Cahill william_
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Walbert Silver Gol Levi Phi
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Creditory Economic Levi Phi
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Subject:Re: [socialcredit] the reality? -- the true assets of banks (Addendum)
Date:Wednesday, November 24, 2004  12:45:05 (+0200)
From:Jessop Sutton <sutton @...........za>
In reply to:Message 312 (written by Joe Thomson)

On Wednesday 24 Nov 2004 4:05 am, Joe Thomson wrote:
> I think the case in all jursidictions is that a creditor has to initiate an
> action in a Court  to obtain an order for foreclosure or repossession
> before title can be transferred.
===========================

That's the situation over here as well. The bank obtains a court order and the 
sheriff of the court has to do the eviction. The house is then sold by public 
auction after due notification of "sale in execution" puiblished in local  
newspapers. As far as I know, for purchasers of low-cost housing where the  
possibility of default is higher than banks are prepared to risk, the 
government provides some protection to the lending bank, but only in certain 
defined circumstances.

Jessop.



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