Another comment from our petition on   Why? because I'm on the brink of homelessness.

I also want to ask THE LEADER OF OUR COUNTRY and the entire Government why have they let this go on for so long and why they have made changes to the ACT to benefit the banks.

Why is there special help in bending the rules for financiers in the ASIC government web site for the sake of the shareholders.

Why is the Government giving investors nearly $10,000 a year to invest in homes for Low Income Earners to rent. Why aren’t they giving the Low Income earners the $10,000 a year subsidy to live the Australian dream of having a home?

Why are they backing the mega wealthy investors and financiers to get richer at the cost of families having a home of their own?

The Government has allowed the Low Doc loans to come into existence knowing the same as the financiers that they are unaffordable, that people will put every cent they have to have the Australian dream only to lose their shirt and their dream five years later.  It was planned that way.

Be warned Low Docs are a despicable product!!!

You are not allowed a loan at the normal interest rate, the calculator says you can't afford it. Your only option they give you is a Low Doc loan. They say the interest is higher because you are a greater risk, you also have to pay extra mortgage insurance (up front risk fee) because of this.

Of course there is a Risk but not to the lender, they know that eventually you will run out of funds, by then the interest on the loan is paid, they sell your home and have made their profit. You are just Loan Number. 000, a signed agreement with the so called law backed by the Government on their side.

If we were allowed a normal loan, with the monthly payments we were making we would have owned it in 14 years instead of 30 years. If we were allowed a normal loan I wouldn’t be on the brink of homelessness, I would be able to afford it.

Why is it that I am not allowed to stay in my own home but I am allowed to rent an investors investment for the same amount.

Does the Government have to wait for the same thing that happened with the drought affected farmers, to happen here??? The suicides because they couldn’t cope any more?  Is our Government keen on sending us all to the wall financially?  Cripple our economy?  Make confidence of a thing of the past?  

The past year has been like that for me, I can't cope.

My partner passed away last year, the monthly stress trying to make the loan payments attributed a great deal to his death.

I struggled for 2 weeks to stay alive till they worked out it was the chemo killing me, not the cancer, it took 3 year to get better but I survived and so far cancer free.

The past year I have been battling to save my home, my memories, all I have. Being told they are going to take your home is not much different to being told you have cancer but with cancer at least you have a chance with all the doctors striving to make you well. With saving our home it seems so much harder because the only ones that can save you are turning a blind eye. ASIC, FOS, COSL run by the Government for the people are not helping the people they are there for. Why do we vote, why do we have a Government for the people. Our country is run by the Banks, the wealthy, it is not run by a Government, it is run by GREED. As the saying goes, “ The Rich get Richer & The Poor Get Poorer”.

I went and saw “12 Years a Slave” recently, I felt I could relate to how it was. They could do a remake with the story about the Banks and call it “30 Years a Slave”.

Please help circulate petition, it is generating awareness of the banks fraud and greed and more Australians are coming forward.

petition link at top of page in featured box

Maggie M