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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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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 LOW DOC LOAN DANGERS
eldiablo here thank you for reading my blog story in response to which bank WESTPAC the one and only have created this maladministration debark-le it is only if we all stand together that our voice will be heard. if it was once said that the meek will inherit the earth then i for don't mind being meek and stopping this crime against us all we shall be heard we shall create a diference we shall have all this wrong doing reversed and the banks have to in the very least take the hit for the loans  it not not like they didn't profit from us all in taking our money and lively hoods now its time for their compassion to be shown and secure our future for once and all so we can live out our final years without this debt, pain and suffering. So i say to all the banks...
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  • setup
    setup says #
    Yep, lets all encourage each other and make a tonne of noise so we can grow bigger and more powerful. We all know we have not comm
  • setup
    setup says #
    Sorry 25th August...
  • Rob
    Rob says #
    One in all in! lets all get behind this effort, Rome wasn't built in a day but it is still hear today. So come on all you sand bag
  • setup
    setup says #
    That's exactly right Rivers, which is why we have to persevere in putting pressure on the Politicians to bring banking back to how
  • RIVERS
    RIVERS says #
    We were brought up to respect banks and the kindly bank manager. How things have changed! We now consider them to be the enemy, on
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    Low documentation or "low-doc" loans require less documented evidence of income, assets, and liabilities than a traditional loan product. Borrowers are still required to apply in writing and sign a loan agreement, but will not be required to produce pay-slips, tax returns, or any other form of proof of income. Lenders MUST verify affordability, despite consumer protection provisions such as: s27.1 of the Bankers Code, Lenders continue to approve SUB PRIME LOANS.   In the interests of Consumer Protection, we have listed THE DANGERS inherent in LOW DOC MORTGAGE LOANS Because low-doc loans do not require income verification, these loans are an attractive financing option for borrowers who are self-employed, independently contracted, or work as investors. Yet most people in Australia who have signed up for these loans are pensioners, low income families who are neither self-employed, nor are they investors. The loans are set for 30 years, yet...
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  • doyla66
    doyla66 says #
    I can't imagine why anyone who has dealt with the Credit Department of a Bank and then been through a FOS case would EVER want to
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