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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 mortgage stress
 ASIC ONLY ANALYSED THREE BORROWERS?????   Refinancing was rife throughout the decade!!!!  ASIC had this info and did nothing against the LENDERS involved and KNEW they were using The Fudging Figures Program using a Fudging Machine: SERVICE CALCULATOR!  This email address is being protected from spambots. You need JavaScript enabled to view it. This report remained buried from public view............................No-one from Treasury read it!  Thanks to one of our top researchers.  Start digging into all ASIC Reports on Low Docs, Lending practices and Loan Defaults and mortgage stress and hardship.  Seven Banks involved.....yes we know All Members should be digging.....................................and reading and reading.........................what ASIC knew and when. ASIC REPORT 152  MAY 2009  1 This covered 15 lenders in total including 7 banks, 4 credit unions and friendly societies, and 4 non-banks. 2 The mortgage broker questionnaire was compiled with the assistance of the MFAA and sent to 9 brokers and broker groups, all members of the MFAA. 3 REP 119 Protecting wealth in the family home—An examination of refinancing in response to mortgage stress, March 2008,...
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  • doyla66
    doyla66 says #
    Declan Carnes ( BOQ Bank Manager) - infamous from BOQ North Ward - re Storm Financial and Doyle case with ASIC is due to be in Bri
  • Denise
    Denise says #
    Hi Kevin - none in Qld, one in SA and none in WA or TAS. Reason: NSW had Contract Review Act 1980 to protect consumers from UNJU
  • doyla66
    doyla66 says #
    Denise why is there not a huge history of success in WA like NSW as to mortgage fraud, The WASC and the WA SAT have virtually no h
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An initiative of BFCSA (Inc) - Why not drop by soon?  What is your mortgage distress story? You are very welcome to share your experiences and "let it all out" (and it goes without saying, be civil and calm at the same time).  Actually, writing your own story at Mortgage Distress SOS could be great therapy for you, and at the same time, assist other Aussies who are facing similar challenges.   to check it out Click on this link https://www.facebook.com/MortgageDistressSos...
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David Collyer was right. Denise's evidence and assertions are based in many years' research. There is no room for speculation in the black and white of her evidence. It's FRAUD. What is more it is intentional, premeditated and well organised systemic fraud. How can the regulators and the politicians deny the facts and keep their credibility? They can't. Further evidence has been revealed since the initial hearing at the Senate Inquiry. It underlines the even greater need for a Royal Commission. The Australian public want the truth. Investors want the truth. Borrowers want the truth. Our international reputation is also under scrutiny. Surely it is part of the job description of any chief regulator or parliamentary representative to supply informed, well-researched answers not off the cuff comments based on assumptions and their own opinion in order to protect their jobs! They are paid handsomely to supervise and ensure the stability our...
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  • doyla66
    doyla66 says #
    Thankyou Carol, Andy and Peter. Our parliament is handicapped by the past and by their party political histories. Those days are
  • doyla66
    doyla66 says #
    What an Increditable post Lisa, every one of our weak and gutless politicians,heads of APRA, ASIC,COSL, FOS and Federal Police sho
  • doyla66
    doyla66 says #
    Watch this Space: Vote[1]LisaMartin Vote[1]DeniseBrailey - perhaps sit opposing sides "broom the middle"(save the worthy/repentant
  • doyla66
    doyla66 says #
    Politicians and bank executives take note: KNOWING & FAILING TO ACT IS A FAR GREATER CRIME. If you work in a bank and can provide
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Article from Herald Sun 22nd August 2012 Full Article: http://www.heraldsun.com.au/business/home-loan-stress/story-fn7j19iv-1226455224883 ABOUT 14,000 Victorian families are behind in their mortgage repayments. The figure has risen by 3000 since September. The Reserve Bank offered no relief yesterday, signalling that further rate cuts were off the agenda unless the global economy takes a turn for the worse. On the other hand, Victorian home owners are the best payers in the nation. The rate of missed mortgage payments is the lowest in the country, while arrears in Queensland and NSW are at worryingly levels. Eleven of the 20 worst performing suburbs are in NSW, seven of them in western Sydney. The Fitch Rating Dinkum Index shows the number of Victorian households more than 30 days behind in mortgage repayments rose from 1.04 per cent last September to 1.28 per cent by March. The Melton-Wyndham area had the highest level of mortgage arrears in the state at...
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