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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 Reverse Mortgage Carnage
$3.5 billion reverse mortgage market a wasted opportunity http://www.brokernews.com.au/news/breaking-news/3-5-billion-reverse-mortgage-market-a-wasted-opportunity-179404.aspxby AB | 17 Sep 2013   The reverse mortgage market isn’t living up to its full potential and risks becoming a missed opportunity, according to Deloitte’s 11th annual study of the sector, released today. While the $3.5 billion market has clocked up more than 7% growth since 2012, the Deloitte report claims that, with the ‘tailwinds’ of the baby boomers retiring and an increasing focus on post-retirement funding, the opportunities in the equity release market are in danger of being missed by banks and other financial services organisations. As of 31 December, 2012, more than 42,000 senior Australian households had a reverse mortgage with total balances of $3.5 billion and James Hickey, the Deloitte financial services partner who led the study, says there’s obvious potential for even greater growth. “The size of the senior Australian population is set to increase by more than 50% in the...
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  • doyla66
    doyla66 says #
    Hear hear and make sure you read the fine print with a magnifying glass for they have been very busy sneaking inclusions into the
  • Denise
    Denise says #
    If you want to ask about the risks of Reverse Mortgage DO NOT ASK A BANKER or the broker agent! Very simple: Go and ask your ind
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Mackers just loves targeting Asset Rich but (very) Income Poor ("ARIPs") because its lucrative business for them and shareholders BUT its amoral and fraught with RISK OF LOSING HOME in 7 short years.  Low Docs guaranteed to lose your own home in 5 years.  The Bank Sharks are back.   THE ugly side of risks to reverse mortgages – interest rates are higher than average and debt can quickly rise.  Ask BFCSA Members what they think Reverse mortgages back in vogue Australian Broker News by Calida Smylie | 14 Mar 2014   The move by two major funders to offer reverse mortgages again is an indicator the market is picking up since the global financial crisis, the general manager of a mortgage servicing company said.“When reverse mortgages coming back that’s when I know the market’s coming back. Because funders willing to fund reverse mortgages means the cost of funding is coming down and they...
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  • Denise
    Denise says #
    Dumb Brokers do not understand the product!!!! They sell them to their own parents! I know. Banks sell product to its agent bro
  • doyla66
    doyla66 says #
    disgraceful.. ad CBA is all over it!! It was only in 2012 that Sentinel had no money, until CBA came to the rescue....... In 2012
  • doyla66
    doyla66 says #
    Here we go again! Brokers door knocking their way to bonuses and overseas trips on the backs of the vulnerable ARIPs! Please every
  • Denise
    Denise says #
    Good One Mackers. You Bad Boys must be getting desperate. Vulnerable Senior Citizens targeted to release equity in the homes and
  • Denise
    Denise says #
    I hope Macquarie is telling their shareholders they are profiting from fraudulent high risk products. [email protected]
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