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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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First loan was with Interstar in 2002, then we transferred to Macquarie/Perpetual in 2004.  I trusted banks.  I trusted the government to protect me from potential wrong doing by banks.  But the government didn't protect me, and the banks couldn't/can't be trusted.  Thirteen different regulatory bodies (eg. ACCC, ASIC) and offices (eg. AG; GG; PM); and the Federal 'It's a State Matter' Police; and State 'It's a Federal Matter' Police', turned a blind eye while the banks continued to drool over the iniquitous profits they were making by providing 'If They Can Fog a Mirror They Can Get a Loan' loans for securitisation purposes. Securitisation was the huge motivation to provide predatory and imprudent loans to all comers.  I'm not the only one who lost my home as a result, and in the five years since then I have been officially homeless - 'no fixed address'. I've learned three unfortunate and...
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  • NABbed Nanna
    NABbed Nanna says #
    Us to lost our home of 42 years. The only home we had ever known. Good old Nab and their predatory loans. Found ASIC, APRA, FOS l
  • FleecedbyBOQ
    FleecedbyBOQ says #
    I am with you having lost my whole property portfolio and my home. Something I thought had set me up for life, being a single (no
  • Aries
    Aries says #
    I thing we all wrote for help to these regulatory bodies....they dismissed us all....ASIC, FOS these two especially should be in
  • FleecedbyBOQ
    FleecedbyBOQ says #
    Totally agree. All they did was cause so much angst trying to reply to the endless letters, questions, phone calls, assembling doc
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My friends’ farm produced wine, emu products, and beef, but the recent 10 year drought made things very difficult.  However, they persevered, doing all they could to preserve the dwindling income.  Eventually though, a mortgage payment was missed.  Then another.  And then came the inevitable letter from the bank - pay up or else…..  Thence followed many months of uncertainty, culminating in Farm Debt Mediation with the bank to negotiate an agreement as to the process that would take place for the bank to take over the farm.The meeting resulted in a ‘Heads of Agreement’ which is basically a summary of all agreement reached.  There were three and a half double spaced pages of agreed terms and conditions.The Heads of Agreement, which total nearly six pages, was signed by both parties at the end of the Mediation, and these points were to be written into a document created by the bank,...
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  • NABbed Nanna
    NABbed Nanna says #
    We refused to sign documents created by the Nab's lawyers. Mr. Lawyer was ever so nice when he wanted us to sign and when we refu
  • NABbed Nanna
    NABbed Nanna says #
    You cannot trust the banks. Nab in our case would do and say anything to prove their innocence. Four years of dealing with these
  • setup
    setup says #
    We shall keep this in mind when it is our turn for mediation so thankyou Susan for sharing. Well done to your friends for standin
  • setup
    setup says #
    Nasty, Nasty and rotten to the core banks. After what we have experienced this does not surprise me. Their cunning plan to bluff,
  • Aries
    Aries says #
    What do you expect they are corrupt liars.
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Posted by on in Bankers A Law Unto Themselves
Had another family wedding the other day.  The weather was perfect - a gorgeous day to witness our fifth son married to a lovely young lady.  As we milled round after the ceremony, enjoying the sun and chatting with guests, my husband struck up conversation with a middle-aged man.  I don’t know how their attention was turned to banks, but what I do know is that at some point the man exclaimed, ‘I hate banks!’My husband’s curiosity was, of course, piqued, so he asked the obvious question.  ‘Why?  What happened?’ Thus followed the man’s account of his involvement in various humanitarian projects and how these projects were being funded by a business he ran.  The business was doing very well.  It was able to service several loans totalling over $5M and still have plenty left to keep funding the projects.However, he hit a glitch in that a large shipment was delayed...
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  • NABbed Nanna
    NABbed Nanna says #
    These Bankers are beyond a joke now. Their arrogance stems from their control of us and the fact that they are comfortable that t
  • Aries
    Aries says #
    Yep... doesn't matter whether your a smart business person or just an ordinary mum and dad who left school at 14. They can call a
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I was musing the other day - about ‘The Bank’….We talk about ‘The bank’.  We say, ‘The Bank did this’, and ‘The Bank did that’. But ‘The Bank’ can’t do anything of itself.  In effect, ‘The Bank’ is just a piece of paper.It’s people that give life to ‘The Bank’.  Then they became Control Fraudsters.And that leads me to one very disconcerting conclusion.It’s people that sit in the CEOs’ chairs, in the CFOs’ chairs, who sit on the Board, and who are Bank Chairmen - oops ‘Chairpersons’ for the politically correct.  It’s people who dreamed up the Serviceability Calculator, who changed the Loan Application Forms, who failed in their Duty of Care in several areas, who instructed the Broker/Sellers to do things that they (the banksters) knew were unlawful.   People.  They are people who, I imagine, for the most part see themselves as reasonable, law abiding men and women of...
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  • setup
    setup says #
    It's us the people who give power to the banks and they use that power to abuse us, disrespect us, humiliate us and to destroy us
  • Aries
    Aries says #
    Unfortunately the world is full of people with no conscience. Question 1. How do you feel about altering figures on LAFS to our ad
  • Duped
    Duped says #
    Partly I think they are a different type of person, a person who at all costs is willing to steal, rape and plunder every other pe
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