That link from 7 news obviously…
And from one Perth..
Its the great Ozzy dream, work hard for decades, watch your pennies and get a mortgage on a house, maybe raise some kids, and when you are getting close to retirement and the house is paid off, you have some options:
Sell the house and travel, sea change or tree change, or maybe work part time or in a occupation less stressful or softer on the mortal coil, maybe just catch up on TV sports/ books/ gardening….
Let’s face it the home is where the typical man or woman has most of their assets tied up in these days, sure people will try to speculate on the market, but as an investor it’s your right to choose how you want to invest. As a home buyer it’s you supreme privilege to take what ever capital gain you can realize after the mortgage is paid.
Unless you made the mistake of getting an employer like BHP Billiton…
Its called the Ozzy dream because we are all starting to wake up from it and see it the nightmarish reality of employers trying to steal from employees. Just like Occupy began as banks were stealing from their customers and the taxpayer in general, now the employer morphing into a more voracious animal.
The house deal
Initial purchase price from BHP loan $43,000.
Interest rate paid 7.4% (approximately) very close to the average interest rates for the time period 1998-2013, So BHP haven’t really done any special offers there.
So Neville chose wisely and now the house is worth more the 20 times its purchase price, (and more than 7 time the amount repaid) of course Now BHP wants to take it from him.
Current house value conservatively $900,000
Loss in value to the mortgage payer Neville: $774,532 if he were able to sell today.
BHP is trying to steal more than 3/4 of a million dollars of real estate value from a former employee, that they sacked in murky circumstances.
Of course lawyers and government assistance in the dispute fail as they always do.
What is this over?
Neville was sacked after 21 years of service to BHP for allegedly speeding in a company vehicle on the mine site, which he denies. Apparently the fine print in the loan agreement implies the house is forfeit if the employee leaves the company.
Which brings us to:
Imperial Acts Application Act 1980, Section 8, Sub-section 12
“All fines and forfeitures before conviction are illegal and void”
Keep that in mind Neville.
So it sounds like BHP Billiton are not satisfied with taking as much value from the mineral wealth from our continent, they now want to have an illegitimate slice of the real estate pie as well.
So the question is BHP Billiton, would you like to give the man his house back, or would you like to become the new whipping boy of this activist media website?
We have pretty much ruined Robert Doyle, so we are looking for new targets.
Your head office is very conveniently located in Melbourne, Subtle hint.
Anon ops make preparations for plan 16.
How is this going to look in First Priority Enterprise?
Stop smirking, give the man his house back you heartless bastards.