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BFCSA
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.

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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.

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Subscribe to this list via RSS Blog posts tagged in CBA Shifting Goal Posts
The fisherman caught out by the low-doc loan DateMarch 13, 2014 - 1:29PM 43 reading now Read later Su-Lin Tan and Michael West   inShare submit to reddit "I am in a desperate situation now": Graham Filmer has fielded four letters from the Commonwealth Bank, which is trying to repossess his home. Photo: Supplied Graham Filmer used to earn a living 30 kilometres off the coast of Corny Point in South Australia long-line fishing for sharks – mostly bronze whalers, gummies and schoolies – and catching snapper. It was a hard life. Things had been better years before when he still had a licence to catch rock lobsters. The deep sea fishing took its toll on Filmer, physically. Five years ago, he developed rheumatoid arthritis in both wrists. Now he can't even reel in a hand-line. The boat Graham Filmer was forced to sell. Photo: Supplied Around the same time he was inveigled into...
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  • doyla66
    doyla66 says #
    Do you know that the fraudsters will have the cheek to say by giving you all this extra money. "We were helping you" Thats a good
  • doyla66
    doyla66 says #
    Yes we know the broker is the agent, we get that bit ..but at the final hour the banks approved 100's of 1000's of dollars to peop
  • doyla66
    doyla66 says #
    Yes indeed it is still happening. My loans are 2011 and 2012 And I defaulted in 2013 And $40k run up on credit cars to stop the s
  • doyla66
    doyla66 says #
    The customer/borrower relies on the bank to do the right thing... what CBA is telling Graham is exactly what all the banks are tel
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CBA to change lending policy from November 25 Tuesday, 19 November 2013   Property Observer     From November 25, the Commonwealth Bank of Australia will change aspects of its lending policy. The new policies outline that rental income from a residential property used for servicing cannot exceed 8% of the owners estimated value or contract of sale amount.  This means the CBA will only accept a maximum gross rental yield of 8% for servicing.  Additionally, a new rental income referral rule will apply for applications in categories 3, 4, and 5, where the rental income is more than 50% of the total income used or servicing. CBA spokesperson Steve Batten told Property Observer, “The rationale behind this change is that high rental yields in some areas of the country, particularly in mining towns, are not sustainable. While this only will impact a very small number of customers, we would like...
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  • doyla66
    doyla66 says #
    If JPM and Jamie Dimon have been hit hard by the US Govt over investor fraud, I wonder if JPM as a major Australian Bank sharehold
  • doyla66
    doyla66 says #
    Do not believe a word of CBA's propaganda. You can bet your bottom dollar that CBA will have something sneaky up their sleeve. CB
  • doyla66
    doyla66 says #
    I think they mean new loans. Are the Loan Service Calculators still set to silly estimates of asset growth? Denise is onto it - CB
  • doyla66
    doyla66 says #
    While this only will impact a small number of customers.... Who are they specifically??.. New or existing ones?? If existing on
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