GLOBAL SUB-PRIME CRISIS

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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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Bubble Economics: Australian Land Speculation 1830 – 2013, has been published through the World Economics Association website, at http://www.worldeconomicsassociation.org/books Just click on the link.............. You need to read this AMAZING REPORT by Philip Soos & Paul Egan and in particular: The chapter on fraud “3.6 The Emergence of Fraudulent Mortgage Lending” can be found on page 621 - 660 If you are a victim of Mortgage Fraud by Bankers, professional academics are writing books on Australian Mortgage Fraud - the one that ASIC has been in denial over for fifteen years!   Remember the porkie pie that ASIC told the Australian Parliament  8 August 2012 and again in Feb 19, 2014:  "No systemic issues in Mortgage Fraud", weeks after receiving the EDR reports to say complaints against the Four Major Banks had increased dramatically the previous five years!   Bubble Economics is a sound historical look at bubbles and land speculation...
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Transformation- Posted on Thursday, March 20, 2014  One of our readers:   People like Jon Denovan who have the benefit of both EDR/COSL experience and Law like to soften down the nasties of life - like Fraud, lying, common thievery. Many lawyers are like this. eg The 127 Law Firms involved in The Solicitor Mortgage Scams of the 90's and yes, ASIC did nothing, and $2 billion in losses.   Their justification? Conflict is expensive to client and so is court. Reality? They're of the breed of Australian men who get rattled by conflict and disputes and like life to run smoothly to their tastes and their benefit, of course. Push them hard enough and they can be quite nasty, but they will patronise you to death in the meantime, refusing to take you seriously. That's also why it takes so much effort to get some politicians to take this seriously...
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  • doyla66
    doyla66 says #
    All one needs do is watch the ABC video link of last night's lateline business to know it was another smokescreen interview by ASI
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The best warnings we as a support group can give is this:  Do not sign a Mortgage without writing to us via email and asking BFCSA about the perils of trusting any banker or lender or any broker as an agent of the Bank.  You think you can trust the banking system.......WRONG. Our own Prime Minister has yet to respond to this crisis.  He is saying he is worried about disability pensions being rorted.  Yes we would be too, but think of all those people who will now be forced on to welfare after saving for their retirement and now being conned by the Major Banks in Australia. Banksters will be watching the Australia Day celebrations drinking the best champagne from the 100th floor vantage spots and watching tennis and cricket this week from the overloaded, over indulged corporate boxes!  They will care diddly squat for their victims and families.  Next week its back to business and they will again be enjoying their very best favourite...
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  • doyla66
    doyla66 says #
    Pigs on the spit might be most appropriate!
  • doyla66
    doyla66 says #
    Denise, Adding a few EDR bureaucrats on the barbie would also help, although I sugest the would be close to be inedible
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Yes this is a Global Crisis of monumental proportions.   During the past 20 years, Bankers have been busy uniting globally in a raw grab for assets from the most vulnerable, hard working  people in the community.   Australia, New Zealand, Greece, Spain, Iceland, UK, Ireland, Sth Africa and the US and so many other nations have all been told the same sub prime lies, whilst banks engineered millions of TOXIC Mortgage Loans and then moved in to take the spoils of the greatest looting spree the world has ever seen.  Not one regulator in any country, appeared on the horizon, to defend consumers of disgraceful bad banking behaviour!  Bankers then turn around, blamed the customers for trusting their banks, and then demanded taxpayers bail out the banks!   What is going on?     Time for all bank victims to tread the same path and become a Global Movement: to...
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  • doyla66
    doyla66 says #
    So good to hear from our Irish friends. They are doing a wonderful and feisty job over there. Just like the US, Australia and now
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I have lost count of the number of 80+ year old pensioners, who owned their own homes three years ago, yet were talked into $400,000 loans for "six months with try it and see" and, now they face life on the streets.  Only 64% of these loans were arranged by Brokers.  The rest were arranged by bank managers - directly with the banks - no brokers involved.   18% of toxic loans are FULL DOCS....PRIME LOANS  Parliament needs to be encouraged to TAKE A BIG LOOK at these dirty lending practices. This blatant criminal activities are abhorrent in motive and breath-taking in size of creative engineering of faulty mortgage products.  Banks created a $100 Billion market especially designed to target ARIPs (asset ricvh and income poor). Bring on the Royal Commission into the Banks before any more loans are written!  This email address is being protected from spambots. You need JavaScript enabled to view it. We have a monstrous sub prime problem in Australia.  All...
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  • Denise
    Denise says #
    Yes indeed Lisa....anything to get out of doing a modicum of work. This is the first Inquiry every called for by the Senators int
  • doyla66
    doyla66 says #
    How did ASIC gain the "right" to decriminalise fraud? or was that another one of their tactics for avoiding real work and just a t
  • Denise
    Denise says #
    Why did ASIC circa 1998, immediately decide to DECRIMINALISE fraud? Why did ASIC deem criminal activity to be acceptable and targ
  • Denise
    Denise says #
    ASIC ignored all those whose first language is other than Australian. Older persons was clearly written in emails from banks to b
  • doyla66
    doyla66 says #
    How dare they take advantage of the elderly in such a disgusting manner to make themselves rich! How dare they take advantage to s
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