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BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

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 RESIMAC wearing blinkers
The frauds are perpetrated by the Banks - that's why banks report they do not find many incidences.  In 2008 all banks reverted to NO VERIFICATION OF MORTGAGE LOANS and credit cards are included in the package as some type of third line forcing plan.  Truth would be good from ehre on in.  Who on earth would trust a Banker or the banking regulators?  RESIMAC say: we introduced verification calls to new applications to verify details.”   Ok so how many?  All of them or a spot effort? Is that clever wording? Newsflash for RESIMAC your newly acquired bundle of joy mortgages from RHG - bucket loads of fraud and no verification of income took place...............................ring up those RHG customers and ask the question.                BOM words show they verify nothing................... All mortgage loans FULL DOCS AND LOW DOCS are UNVERIFIED...meaning no phone call to customer...
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  • Jenny L
    Jenny L says #
    Same with us. No-one from GE Money called us to verify contents of LAF . If only they had we wouldn't have had our lives shattered
  • Susan
    Susan says #
    So we signed a page that said we forego legal advice re our loan. We trusted the bank. After all, people sign credit contracts e
  • kddeed
    kddeed says #
    Same here 'setup', no phone call received!! You just have to go back and look at old blogs and it's unbelievable how many years h
  • setup
    setup says #
    That's right we certainly did not receive a phone call at any time to verify our income. If we had we wouldn't be in this mess tod
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From a reader:  Perhaps the glutton driven banksters could donate their illegally obtained wealth to some of the charity organisations that have been helping my family since RHG scammed me.  The Salvation Army are an amazing volunteer organisation that have helped my family with food vouchers and emotional support through this daily prison I am trapped in over the last few years!!! I will never be able to accept the greed element of this scam?!?  I cannot believe the Government has sat on its hands and worried about far less important things when ordinary aussie battlers have been lured by BIG BANKS into fraudulent Low Doc Loans. $50 billion - is that true?   So its not a problem?  ONLY $50 Billion worth of dud mortgages?!?  Yes we hung on for 5 years and slowly were strangled and running backwards, our dreams shattered and my kids saying what happens next Mummy? I am about...
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  • doyla66
    doyla66 says #
    Disgraceful, Government must step in now but it appears they have gone missing and gutless. Thinking of you arree, we will stick t
  • doyla66
    doyla66 says #
    I'm reluctantly packing up my belongings too as my fight to keep my home is over.... Maladministration was found but the FOS max.
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