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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 housing market
Deputy Governor of the RBA, Phil Lowe, has today delivered a nice speech in which outlines why it is that the labour market is softer than it appears. This will no doubt fail to silence those commentators that prefer to see the cup as half-full but most importantly, Lowe finishes on what amounts to a justification of the recent rate cut and nominates dwelling construction as one way for the RBA to pick up labour market slack.  Read on: http://www.macrobusiness.com.au/2012/10/rba-were-gonna-build-more-houses/  ...
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  • doyla66
    doyla66 says #
    Big4 in AUS pay dividends which puts them in top 50 dividend payers of all listed stocks globally & top 10 in financial sector glo
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Posted by on in BANKSTERS
By Leith van Onselen The Reserve Bank of Australia (RBA) has just released the private sector credit aggregates, which registered a small increase in total credit growth in the month of July, but the third lowest monthly housing credit growth in the series’ 35-year history and the lowest quarterly and annual mortgage growth ever recorded: Read on ...http://www.macrobusiness.com.au/2012/08/housing-credit-growth-weak-in-july/...
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I was reading this article (link below at end) & was particularly concerned/apalled at one paragraph: "Variant says the Reserve Bank will come to the rescue of the big four Australian banks in a crisis because they are too important to fail." Is this why our banks treat us plebs (aka 'customers') with so much disdain & utter arrogance? The same attitude they displayed/presented/portrayed to the recent Senate Inquiry & those preceding inquiries? They believe they are too big too fail therefore they are above ALL laws in this unlucky country of ours? The next paragraph is quoting an Australian Analyst's perspective. I think she is caught up in the banks' hype & has not got a good grip on what is occurring in her own backyard so to speak. Then in her final paragraph this statement is made: "She noted that Australian banks were extremely profitable and now far less...
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  • doyla66
    doyla66 says #
    The banks often like to peddle the illusion of poverty. I recall ANZ complaining about their "tight lending margins" earlier this
  • doyla66
    doyla66 says #
    Once the veil is lifted of how the banks create money out of thin air, and make hundreds of % profit on their computer entries, we
  • doyla66
    doyla66 says #
    I love your quote from Henry STM.
  • doyla66
    doyla66 says #
    What a great find LMehan! Thank you! The more information we can uncover and bring to the forefront, the less power these people
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I came across this 2004 ANZ submission by accident. What a gem! From the Banks perspective we, the Fringe Lending Market, were "missing out" on so many financial products. Frankly, I didn't feel like I was missing out by not having a mortgage hanging around my neck or a plethora of bank accounts and credit cards to manage! I didn't lament my lack of financial products. One bank account for everything was fine for me, and had been for as long as I could remember. Why complicate life by being chained to the wheel as a debt slave?   I got into major debt through my long time friend and partner. A decent man who thought $30,000 was a large amount of debt. He wanted to be able to retire and he felt he should be able to leave something for his children. He took the risk. And found he was...
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  • doyla66
    doyla66 says #
    Thanks for the hyperlink Lisa. Some light reading for later when I get off the net
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Credit bureau Veda says New Zealanders showing renewed confidence in borrowing for both homes and businesses Posted in Business August 16, 2012 - 11:15am, Gareth Vaughan   Credit bureau Veda says mortgage enquiries rose 44% in July emphasising renewed confidence in borrowing for both homes and businesses. Veda said for the first time in five years its bureau statistics showed a rise in commercial enquiries, which is "enormously positive" for the economy. "Businesses owners require a level of confidence in future growth to borrow funds to invest in their operations and expand," Veda’s managing director John Roberts said. “Business has hung in through a slow economic recovery. An increase in enquiries is a welcome sign of emerging stimulation in the commercial sector.” Roberts' comments are similar to those from ASB CEO Barbara Chapman. After the bank released its annual results Chapman told interest.co.nz  ASB had grown business lending by 6% in the year to June 30,...
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  • doyla66
    doyla66 says #
    It sure will, Denise. I've been trying to get the message out to everyone I can: get all your documents when you apply for a refin
  • Denise
    Denise says #
    Confidence will head south when they start asking for their LOAN APPLICATION FORMS. Same Model used by Aussie linked banks in New
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  Still waiting to recover fire in the belly by: Peter Switzer From: The Australian August 18, 2012 12:00AM   Westpac chief economist Bill Evans says talk of interest rates rising may be spooking consumers. Source: Herald Sun   JUST when we thought we had an improving economy, consumers have failed to give the work of the Reserve Bank and the Gillard government the thumbs up. Ironically, the news of a 2.5 per cent fall in the Westpac consumer confidence index to a disappointing 96.6 in August coincides with a rise in the NAB business confidence index to 3.9 in July, from -2.9 in June. It is the first rise in business confidence in three months. The great entrepreneur and business builder Gerry Harvey is bewildered about how tough conditions are right now. The NAB business conditions index fell to -3.5 in July from -1.1 a month earlier, which would seem...
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