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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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REPOSSESSION FACTS

Posted by on in Stolen Homes
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Recently a house was repossessed not by the conventional methods which I will not go into.  The home was eventually sold after an auction failed.

The home sold for $50K this was $55K less than it had been valued by the bank 4 years previously.  The cost associated with the sale were $20600.

Yes thats right over 40%.   I have proof of this.   The original debt was $30K on the home. Regular payments were made for over 2 years and the debt was down to $28K.   Then fiddling took another 12 months in which interest was being added monthly making the debt then $32K.   So after the funds were applied to the loan theres was still a debt of around $4K taking into account interest being added all the time monthly.  To this day the bank are still persueing that debt with threats of banktuptcy etc.  This was a loan application where the docs had been altered to full time employment by both applicants and in one instance a fictitious company name was added as employer.  One of the applicants was on a disability pension the other self employed.    These applications were presented in court distinctly showing the alterations by bank employees.  The banks counsel just waved his hands in the air like he was going to break into a dance and proceeded to tell the court they are no  consequence.  The worst thing is that the judge believed him. I would like to know how in the hell you get past these type of things.  To me fraud is fraud.  There is something really wrong with the judicial system when this sort of thing goes on.  The FOS, the banks, the lawyers, the bank employees are crooks to my way of thinking!!!!!! 

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  • doyla66
    doyla66 Wednesday, 29 August 2012

    Disgraceful!

    Sign up for the Petition NABbed Nanna and lets NAB them at the own game!!!

    Thanks for sharing this story. It seems to show that the courts are complicate as well, and it just occurred to me the other day that all the judges and the courts are made up of ex-lawyers etc, so they are just protection their own industry and have set themselves up as judge, jury and executioner!!!

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Guest Tuesday, 27 October 2020