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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 Philip Soos
http://www.smh.com.au/business/the-economy/australias-housing-bubble-is-real-and-banks-are-to-blame-says-author-20140828-109ahx.html Australia's housing bubble is real and banks are to blame, says author The Economy Date August 28, 2014 Jonathan Shapiro   Lindsay David may sound crazy ­comparing Australia's banks to Lehman Brothers and Bernie Madoff.  But in his mind, it's everyone else who is living in a "Disneyland" delusion by failing to spot a bank-led property bubble that shows no sign of deflating.  It's "the sheer size of the loans relative to the incomes here" that troubles Mr David."No one in the Western world has ever done what we are doing." Mr David, who used the case studies and research projects from his time at the IMD business school in Switzerland to form the basis of a book, Australia: Boom to Bust, warns that the three shaky pillars of real estate, resources and the banks will eventually collapse. He says that as Chinese authorities appreciate, China's built more houses and...
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The housing bubble and the pin factor DateJune 30, 2014 Read later Crispin Hull View more articles from Crispin Hull     inShare submit to reddit Email article Print   Housing bubble?: Egan and Soos argue that the bubble will boost soon, sudden and large, and point to the historical experiences. Some economists and analysts have been saying for a decade or more that we are going to have a major slump in housing prices, and they have, according to real estate commentators and others, been proved wrong. But maybe the doomsayers have not been “proved wrong”. Rather, the predictions were a bit premature and/or we have already had a bit of a correction in 2008-09 with the global financial crisis, postponing the inevitable bursting of the housing bubble for a while longer. Of course, before a bubble can burst, you must first of all have a bubble. A book just out...
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An important read from Prosper Australia, which was submitted to the Senate Inquiry.  Lot of work is evident here and we need unbiased analysis on the subject of Australia's Land Bubble This powerful document demonstrates its point by including nine metrics illustrating the RESIDENTIAL PROPERTY BUBBLE.  The very same bubble the Government is in denial about. Every one of our BFCSA members in every State has reported their current property they are trying to save, is now valued BACK TO 2007 PRICES.  Any reader disagree?   Here are some powerful warnings:  Senate sub to the housing affordability inquiry can be found here: http://www.prosper.org.au/wp-content/uploads/2014/02/Prosper-Australia-Senate-Housing-Submission.pdf    ...
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  • doyla66
    doyla66 says #
    More interesting is I had 5 offers pre accepting what I did in the end when ANZ forced my hand (all declined - all 1/3 less than e
  • doyla66
    doyla66 says #
    Mine sold last year for exactly double of what it had been purchased for in 1994 (2 decades ago) and for little more than an offer
  • doyla66
    doyla66 says #
    In 2007 Nab's valuation of our property was what they were reliant on for the escape route if we fell on our faces. In 2013 the pr
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By Philip Soos  Tuesday, 21 August 2012 The level of sub-prime mortgages in Australia may be far in advance of what was previously assumed and provided for by banks. The story was broken on the ABC, and covered elsewhere. The revelations centred around two personalities: Kate Thompson and Denise Brailey. Kate Thompson was a licensed mortgage broker at Mortgage Miracles in Western Australia. A highly regarded and award-winning broker, Thompson disbursed a veritable torrent of credit from bank and non-banking lenders to clients wanting funds to buy property, making around $5 million a year from upfront and trailing commissions. She is now facing fraud charges for what amounts to predatory lending: providing credit to people with little to no expectation they will be able to repay the entirety of the loan. This fraud was achieved by fudging the income and assets of clients, making them appear much wealthier on paper than was...
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