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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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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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BFCSA: The only lifeline and safety net for victims of Bankster crime with toxic mortgage loans.

Posted by on in ROYAL COMMISSION URGENT
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Dear members

It really disturbs me to see how many younger people with families are coming to the site. I know there was no age barrier as long as you had a mortgage and a bit of equity in the home for the banksters agents to target us. Our dodgy broker( A former bankster employee) went it alone once he realised how much money could be made by being the bankster front man.

In hindsight the thing that annoys me is a large proportion of the borrowers worked menial jobs in a poultry processing plant on base wages and never entertained the thought of investing because they thought it was beyond their means. Our broker had an ace up his sleeve, he had an insider who knew everybody inside the plant and she did the initial spruiking to convince people they could invest. Of course she was getting commission on everyone she signed up and her husband worked in the mines and was doing the same thing. 

The banks deemed us all as "investors."  Once again totally false.

Our broker( we found out through documents later) was doing everything to raise ASIC's attention to himself and in the end it was a few anonymous phone calls that spurred ASIC into action and within six weeks the broker and his wife shut up thanks to ASIC. But the joke was on dumb ASIC, the broker set them up so they would shut him down and in the meantime he had buried the money in multi layered hybrid trust accounts, I've told ASIC but its case closed as far as they are concerned because its another broker statistic in their favour.

The fallout from this is sixty nine mum and dad investors and a lot with young families have been ruined. This broker through his bankster back ground took the bank engineered product a step further, he got ASIC entrapped to speed up the process because people who had invested in his property development scheme would be soon due for returns on their investment and DUMB ASIC fell for it hook line and sinker. What would the bad guys do if they didn't have ASIC to help them?

Our broker had the big sporty Holden Monaro with Mega Money signs plastered all over it and targeted areas where young families gathered, shopping complex's , shows, events anywhere , where people gathered  in numbers and the bait was always the same, if you have a mortgage you have equity and of course the longer you've had a mortgage the more equity you have.

Its only in the last twelve months that I have come to terms with what happened to us and that's only because we joined BFCSA. Now that I have had time to reflect I hate to think what happened to the young ones in our group. I had medically retired from work and my wife had to retire to care for me so after ASIC wound up the broker we lost touch with the young ones.

Its one thing to survive as a couple, its damn near impossible if you have kids to support.

I'm so glad the younger families are finding this site, at last they like the rest of us now know how we were conned. They now know that no one else is willing to help but being in a support group where everyone else has suffered the same and is there to offer support is reassuring. At present its words of comfort  and advice but our voice is being heard and next month we will be seen in Canberra and hopefully we will get the numbers to make the government and media take notice.   In the mean time put pen to paper or key board and tell us how your broker/bankster ensnared you into a loan, its good data to know how the various banksters and agents got people to sign on. Don't worry you won't be scorned because we all fell for the bait.   Thanks Neil T.

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Guest Wednesday, 20 January 2021