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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


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BFCSA: Incredible opportunity AVAILABLE to cancel your Mortgage

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Tuesday, 12th March 2013 Melbourne, Australia  The following is an extract from Nick Hubble's Money for Life newsletter (which I subscribe to) trying to get the word out there.


.... ... " finding out if you can get your mortgage cancelled is a great opportunity to investigate. More on that below.

Three Videos to Watch

Probably the worst thing about living in Australia is having to put up with shambolic current affairs TV shows. Today Tonight's current lead story is about 'reverse airbrushing' models. A Current Affair's top story is about a 'cougar mom' who is clawing her way through Australia's young men. Apparently the 37 year woman old dumped her 18 year old husband for a 16 year old schoolboy. The 16 year old's mum told the reporter 'the whole thing is, like, yuk — you don't even want to know'. Exactly.

Anyway, amongst these matters of national importance are proper stories which the reporters do quite well exposing. And I think you should watch three of them today.

I can't comment much on the first, as it involves a heavily regulated part of the financial industry that I am not licensed to comment on. But you'll get the gist pretty quickly. The government is about to clamp down on your retirement in shocking ways.

Duration 2.08 mins

Next up we have a short video from Today Tonight on the mortgage scandal from June last year. Although all the information in the video isn't new, it is presented very well.If you have a mortgage and haven't had a look at your Loan Application Form yet, you need to watch this video.

Duration 5.35 mins

Denise Brailey of the Banking and Finance Consumer Support Association is interviewed at the beginning and she says this:

'Well I'm only one person and I've been able to get at least 200 of these mortgages extinguished.'

That's one person cancelling hundreds of mortgages. And that was last year. There must be hundreds more people cancelling their loans. And who knows how many hundreds more if word gets out.

But here's the kicker in Denise's interview. 'There could possibly be $50 billion worth of mortgages to be extinguished...' That could be more than 150,000 mortgages.

If you still feel like you and anyone you know with a mortgage isn't caught up in this, please take the time to check. All it takes is a few phone calls and a quick peek at your LAF.

By the way, as part of my effort to publicise Australia's mortgage scandal, and the incredible opportunity you may have to cancel your loan, a new MFLL special report and video will be made available in coming days. Neither the video nor the report feature any new crucial information that wasn't in the monthly issue, but I encourage you to take a look anyway. Also, feel free to forward the video on to your friends and family to try and get the word out there.

The final video I think you should watch is a longer Four Corners video on the other end of the mortgage scandal. I'll discuss this more below, but I think it's still worth watching.

Duration 45.16 mins

The Mortgage Scandal Hits Investors

As the mortgage scandal works its way through the Australian economy, its slowly emerging that there will be plenty of collateral damage. As the Four Corners story above exposes, vast amounts of investments into mortgages are failing. If you have any similar investments, it's time to get out now.

If you're confused about how a mortgage can be an investment, here's a quick guide. Lenders and funds can buy and sell people's mortgages, just like you and I can buy and sell bonds. It's a little more complex than that, but similar in the end. What the process creates is an opportunity for you to invest in a bundle of mortgages and get paid the interest the borrowers are paying. The returns are better than a savings account, which entices many retirees.

That's fine if people understand the risks. But, according to the ruined investors, investment companies sold these investments as being far less risky than they really are. People who thought they were investing in safe bank-like investments are losing their life's savings as mortgages default and property prices fall.

Here are some of the investment companies that have been struggling and failing because of these issues:

  • Banksia
  • Trio Capital
  • W&D Finance
  • LM Investment's First Mortgage Income Fund
  • Prime Trust
  • MFS
  • City Pacific
  • Equity Trust

There are many more. An ASIC investigator estimates up to 15 billion lost in schemes like this.

Now this is only indirectly linked to the LAF scandal you've been reading about. But it's of the same nature. Dodgy loans fail and cost misled people the money they saved for retirement. One Western Australian man hung himself rather than leave the home he lost as a result of a collapsed lender.

It's time to avoid any investments linked to mortgages in Australia. Don't listen to financial advisors who recommend the higher returns with 'bank-like risks'. As the scandal continues to spread, things will get far worse.

Have a great week!

Nick Hubble

Editor, The Money for Life Letter

Port Phillip Publishing Customer Services at This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.


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  • doyla66
    doyla66 Tuesday, 12 March 2013

    Trio Capital cannot be likened to the other funds mentioned and is not in same context as Mortgage Scandal. Trio Capital is a crime orchestrated by a Transnational Organized Crime Gang.

  • doyla66
    doyla66 Wednesday, 13 March 2013

    What angers me is the fact that the media won't publicise any wrong doings about the banks but they will televise these "get rich financial seminars" to entice people to join so in my opinion the media is partly to blame for bringing temptation to the unsuspecting innocent person and then when they are wronged by the bank the media are reluctant to televise it of course they are following instructions from higher up.

  • doyla66
    doyla66 Wednesday, 13 March 2013

    Ms Brailey, why are you removing posts that asks the questions about results? I have been watching this website for a few months, and want to become a member. All I am asking is what results BFCSA is having? I keep seeing FOS and COSL making decisions for Members (lenders) not borrowers. I want to see, hear about the success stories so that I can make a decision to come on board, and send others to BFCSA,

  • doyla66
    doyla66 Wednesday, 13 March 2013

    M Daily, why are you sitting on the sidelines watching? For only $50 a year you membership you have a chance and the real opportunity to save your home from false repossession. Leave it too long and the whole EDR process (FOS and COSL) is no longer an option for you. The Banks will have you exactly where they want you to be... AND HAVE WON. Instead we have had our own small win.

    FOS and COSL have recommended that an Investigator be appointed in our own cases. We continue to live in our home, "buying" more time, and for the past 10 months (that's how long we have been BFCSA members) we are living in peace with no bank hassling us.

    ALSO, we are claiming all interest and fees be reimbursed by the Lenders who were paid out by us under duress. They cannot profit from fraud. We would not have known we could do this, had we not been guided by BFCSA.

    Another small win - Our current mortgage has not been paid for 10 months. We could not afford the repayments in the first place, using the banks money to pay the interest until it ran out. (You would have read here that some members have not paid their mortgage for 4 years and continue to live in their homes)

    If the shit does hit the fan so to speak, at least we know we gave it a very good shot. We have saved our sanity, an awful lot of money, and are a part of history, making banks accountable for their dirty loans.. slowly but surely. BFCSA is run on the smell of an oily rag. ASIC on the other hand is backed by the Government and given Millions of dollars .... for what? Denise Brailey is proving to be doing their investigative work for them!

    We were set up to fail from the very beginning. We know that now. BFCSA members help make Politicians and the powers that be no longer hide it from us and acknowledge publicly that there is a systemic issue in our Banking sector.

    So why not stop sitting on the sidelines M Daily join BFCSA? We really don't need any more negativity. There is enough of it already, mainly caused by the stresses caused the Banksters. We are so grateful we found BFCSA when we did.

    So please stop sitting on the sidelines people, join up TODAY. More members = more power for BFCSA to convince our Powers that be to change laws and make the banks accountable.

  • doyla66
    doyla66 Thursday, 14 March 2013

    Awesome ARREE

    Well said ARREE I have watched many of your responses and I know that you are an old timer on this site as I am also. Never have I read better advice given, my case is now with FOS and without Denise and all of our members that give support and advice to each other and above all hope I would be also sitting on the fence (yes of a refuge). Do yourself a favour if you have been put in this situation give yourself a fighting chance M Daily and get on board. It openned my eyes once I knew what I was looking for just how much we have been set up I have and still am aligned to another group looking into the dirty deeds of a FILTHY BROKER and that is how we got to Denise. Once Denise showed us how we were set up it made complete sense and it helped us to understand how wide spread this really is, the broker is at fault but really only a pawn in the BANKSTERS game. The whole banking and finance system needs cleaning out and that will take convincing Government so be a part of making history as they can not withstand the beating drums forever in Canberra.

  • doyla66
    doyla66 Thursday, 14 March 2013

    The beat of the drums will grow louder and louder as more and more people join up. People power is what is needed to force these Politicians to bend.

    We managed with the help of Denise to get a moratorium put on our mortgage and have not made a payment in 4 years and are still in our home. We are the pioneer members of BFCSA.

    I spoke to a person yesterday in exactly the same situation as all of us who has 5 children and have been evicted from their home.
    Mr xxxxx was presented with a property and seizure order which was signed by a registrar of the Supreme Court (C. Boyle)
    In my opinion and from what i have learned, if the order is signed my a Court registrar and not a Judge it is invalid.
    Mr xxxxx lodged an appeal with the Supreme Court to stop the sale of his property but too late his home was already sold.
    I talked to him about BFCSA and Fos - he had not heard of Fos but said he remembers vaguely joining BFCSA and paying the $50 but said he does not have a computer. He is a bright man but a broken one as you can imagine.

    I encouraged him to get a computer and get on line ASAP. I also told him that if he had been a member of BFCSA, there is a good chance that he and his family would still be in their home. He was surprised to hear that.

    So he WAS a member but without a computer.

    So you see M. Daily it's important that you joint up before it's too late.

  • doyla66
    doyla66 Thursday, 14 March 2013

    M Daily if we hadn't joined BFCSA we wouldn't have known about FOS or our rights. Denise has helped us with our letters and where to send them and we are now with FOS and waiting to be allocated a case manager. If you just sit around and watch and don't get involved you cannot blame anyone else when you end up having to deal with your bank (and their lawyers) on your own. Pay your $50 and and be glad there is someone like Denise out there putting themselves out to help us all and then get started doing some blogging so the watchers can see we are all here and making a noise.

  • doyla66
    doyla66 Sunday, 17 March 2013

    I agree with all of those above. BFCSA was unknown to me when I was wading my way [doing it on my own as my loathsome ex was less than useless] through a quagmire of sticky black molasses that the banksters place you in. That period was from Jan 2006 until April 2010. Between Bankwest & Southshore Finance our business loans were structurally changed without any advice or knowledge by us. I fought them with a completely weak law firm [SLaG] & their supposesd expertise they brought in at my cost & got well done over. I ended up the bankrupt, shouldered all of the blame from his family & mine & watched my children destroyed & torn apart by it all. Will I be silenced? Hell no!
    BFCSA keeps me sane & for a paltry $50 bucks, it is money well spent. While you wait on the sidelines, you can bet your cotton socks, those banksters are not.

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