Aussies just want a fair go, so here are a few tips to ensure all Australians about to sign a Mortgage Application in 2014, are prepared enough to ask their Lender some serious questions BEFORE SIGNING.  Before you sign, tell the Mortgage Seller - these are MY RULES:

1.  Demand the Broker or Bank Manager immediately hand you two copies of Loan Application Form ("LAF") and sign both and RETAIN the second original document for your records.  Ensure the LAF is 11 pages (not the usually presented three pages).  Its a bank scam.  Refuse to hand the signed original over unless there is an ORIGINAL COPY for YOU.

2.  All prospective borrowers MUST receive a phone call from LENDER asking "How much do you earn."  If Lender does not do this after you have submitted the Loan Application Form....then cancel the LAF as a document and process and tell them the reason being "we suspect this loan was being of SUB PRIME character.

3.  Ask the seller of the product: "Is there a "honeymoon" rate in the contract?  If YES - WALK AWAY and say NO THANKS........................

4.  If applicable, WRITE in your own handwriting on any page of the LAF:  "I do not have current ABN number....." BIG letters at TOP of Page.

5.  In own hand writing number every page on both originals

6.  Ask the seller of a SERVICE CALCULATOR to "calculate your true net income" If they say NO, write in your own hand writing on any numbered page, the words: "I understand no service calculator will be used and MY NET INCOME IS $xxxxxx"

7.  Tell the seller: "These are my rules......"

Based upon the experience of many in dealing with Major Banks, we HAVE DEVELOPED A PACK of safety tips for those wishing to sign up for a mortgage this year.............................please JOIN US and ask for your Member Pack, before you sign an application for a mortgage or credit card.

BFCSA Members wish every Banker involved in SUB PRIME LENDING an UNHAPPY NEW YEAR and,

2014 will be the YEAR OF MAJOR BANK FRAUD EXPOSURE.

For those wishing to apply for a MORTGAGE in 2014 - JOIN US  TODAY AND ASK FOR YOUR BFCSA MORTGAGE PROTECTION PACK

It is critical for YOU during that most important first year to ensure, NO FRAUD TAKES PLACE.

Our design is to set the rules by which Banks have to play with BFCSA FAIRNESS and together we will achieve that which four regulatory bodies have been unable to achieve.   Fraud is rife.  100% of LAFs we have investigated are fraudulent, rendering the loans TOXIC. 

To all our members, we offer more solutions to push forward in the New Year and including our resolve to RE-OPEN all files for a CLASS ACTION.

This email address is being protected from spambots. You need JavaScript enabled to view it.