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BFCSA
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MORTGAGE
DISTRESS SOS
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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.
"Confidentiality is assured."
Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.
Click on the Cluster Map.
Mackers just loves targeting Asset Rich but (very) Income Poor ("ARIPs") because its lucrative business for them and shareholders BUT its amoral and fraught with RISK OF LOSING HOME in 7 short years. Low Docs guaranteed to lose your own home in 5 years. The Bank Sharks are back.
THE ugly side of risks to reverse mortgages – interest rates are higher than average and debt can quickly rise. Ask BFCSA Members what they think
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Good One Mackers. You Bad Boys must be getting desperate. Vulnerable Senior Citizens targeted to release equity in the homes and give $$$$ to their family. They do not get benefit BUT interest gathers and seven years later KABOOM old lady out in the street because 45% loan plus 7 years HIGH interest means its all eaten up and the Oldies are forced to sell...no more equity and no rescue from Mackers. They will move in for the kill and are experts at doing so. Just ask Gadens!!!!! [email protected]
Here we go again!
Brokers door knocking their way to bonuses and overseas trips on the backs of the vulnerable ARIPs!
Please everyone, warn every senior citizen you know to shut the door and refuse to sign ANYTHING without a trusted friend and a damn good consumer law expert at their side!
Been there and seen the carnage it caused.
disgraceful.. ad CBA is all over it!!
It was only in 2012 that Sentinel had no money, until CBA came to the rescue....... In 2012 "Under its banking agreements, Sentinel is "technically insolvent" as it has now slipped into negative equity, but managing director Vaughan Underwood said the restructuring had stabilised Sentinel, and the company was actively seeking debt funding so it could start making new loans..."
'With the $1.23 billion CBA loan secure until 2019.'.. - © Fairfax NZ News
"The CBA facility will fund growth in Australia as Sentinel home equity release loans are migrated to Heartland Bank."
Its intention, Heartland says, is to confine its activities to New Zealand with its Australian business held outside Heartland Bank and funded exclusively by CBA."
http://www.interest.co.nz/business/68493/heartland-bank-plans-buy-reverse-equity-mortgage-businesses-sentinel-nz-and-australia
http://www.stuff.co.nz/business/industries/7416902/Debt-deal-halts-Sentinel-lending
Dumb Brokers do not understand the product!!!! They sell them to their own parents! I know. Banks sell product to its agent brokers like this: "WE want you to go out there and help people release their dreams and do this this and that." Its a dodgy sales speil engineered by CRAFTY GREED DRIVEN EVIL BANKERS. Wake up Australia. Only 3% of Brokers are intentionally amoral. Industry says that and we AGREE. So 97% of banker agents THINK they are doing a wonderful job selling safe no risk products because they fall for the Banker's Lies. Brokers have no way of knowing the RISKs, same as YOU all fell for the same cartel lies. Start a campaign to adopt a friendless broker and understand they purchased the product too and are now suffering what you are suffering. How do I know? I am compassionate and speak to them. I refuse to talk to crooks!!!!! [email protected]
I hope Macquarie is telling their shareholders they are profiting from fraudulent high risk products. [email protected]