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BFCSA
MORTGAGE
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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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BFCSA Blog

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 Consumer Protection Nightmare
CFPB wants to share your banking horror stories with the public Kent Hoover     CFPB Director Richard Cordray says "consumers can stand up for themselves and others who… more Share via Facebook Share via Twitter Share via LinkedIn Share via Email The Consumer Financial Protection Bureau wants to give unhappy banking customers a chance to share their stories with the public. Since it opened in 2011, the bureau has received more than 400,000 complaints from consumers about financial products and services, ranging from credit cards and mortgages to debt collection and payday loans. The bureau forwards the complaint to the company involved, gets a response, and lets the consumer know where things stand with his or her complaint. Basic information about these complaints is available to the public through the CFPB’s Consumer Complaint Database. But the agency now wants to go a step further, and allow consumers to include a narrative description about...
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  • organza
    organza says #
    Imagine if we had a glass steagall brick wall to bang our heads against?
  • Aries
    Aries says #
    The dream will become reality, everyone needs to sign the petition or the dream will be just a dream. Get your immediate family, f
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We copied this from COSL Case History File on PREDATORY LENDING.  The case highlights why asking for a mortgage from a NON BANK LENDER is deadly high risk territory........................ This is the problem with COSL:  Facts of the case The complainants responded to an advertisement by the financial services provider, a broker, who professed to specialise in bad credit loans. They were looking to refinance their existing home loan and borrow a little extra to convert their garage into another bedroom. Their existing loan was in arrears and they were about to lose their home. The complainants were both unemployed and on Centrelink payments, with four children and another on the way. The Broker was aware of this.   Nonetheless, the Broker arranged two new loans for them one for $110,000 at 8.95% (plus 3% on default) and the other for $72,317 at 23.60%. The loan was repayable in twelve months...
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  • doyla66
    doyla66 says #
    Lender not a member of COSL or FOS? Wonder if they had a credit provision licence? Or an AFSL? It should be commonsense - if bor
  • doyla66
    doyla66 says #
    Consumers are seen as white shark bait-- and where is the lender, conveniently unseen, never properly pursued as usual......
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