GLOBAL SUB-PRIME CRISIS

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BFCSA
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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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I'm 70, 3 years retired. 15 years ago I owned my own home and was a typical target for banks as a ARIP (asset rich income poor). I wanted to retire comfortably and fell for the ploy, "Why not use your home to generate more income?" By 2008 I had 5 investment properties on interest-only loans with a combined value of approx. $2m. The monthly loan costs were prohibitive; I was living frugally to save as much from my salary as possible to help cover the shortfall, but needing to use an extra line-of-credit, so "thoughtfully" pushed my way by the bank. The debt was rising and all the time I was assuming house prices would keep me afloat. During 2008 I realised how serious my mistake was.  After selling two properties at a loss and two more involving capital gains tax, I still have my own home, thankfully, and one,...
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  • ire
    ire says #
    Time 4 Justice, I totally agree, the greed must be stopped.
  • Time 4 Justice
    Time 4 Justice says #
    It's such a common theme where the bank generated a false income figure on the LAF. I am truly stunned by just how many people lik
  • setup
    setup says #
    We make the effort to become self-sufficient by investing and becoming less of a burden on our Government in our later years, and
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Sadly there is a glaring poverty of thinking by regulators and industry bodies.  Today we received a communique sent to all Planners as to 10 complaints a year regarding members and imprudent loans. IT should have started with a simple: "We need a Royal Commission into the Two Big to Fail Banks, namely ANZ, CBA, NAB and Westpac, and here is why....  WE shall re-write the content for every member of the public to read and those 234,000 followers world wide..... To all those Organisations and their info impoverished members who do not understand the banking white collar crime scene……………………….   The Org suggests “financial planners advisers” – their own members are the culprits. - Really?  It does suggest that a small number complaints exist (10) – rubbish as there are 30,000 complaints re Banking, Insurance, Super to Ombudsmen.   The communique does not mention or explain the following facts:- Does not recognise potential probable 200,000 victims of Low Doc lending in...
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  Real Estate Gurus and banks are talking up property markets as mad investors rush in and force property prices even higher.  But who are the buyers?  Well they are ordinary Mums and Dads fed a rubbish strategy by Bankers and who will lose their existing homes.  They have been targeted and then talked into to drawing on "equity Loans," by MAD HATTER BANKERS.  Most are on a pension and/or low income. Such is the nature of our COVERT SUB PRIME CRISIS.  Yet all banks are reporting shortfalls in selling prices.  What????  How does that compute?  Forget the "reasonable man" theory.  These are all the global KNOWN key indicators of a giant PROPERTY BUBBLE.  Today's Daily Telegraph (Linda Silmalis) ran this headline this morning quoting sources from the office of the NSW Sherriff.  So what are the weekly repo rates in other states? Last year, 2163 repo orders were granted but the Bankers...
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  • doyla66
    doyla66 says #
    I kept up my repayments with the banks money, Bendigo banks money. They are the biggest crooks going, same as CBA, NAB, Westpac, F
  • doyla66
    doyla66 says #
    Same thing with RAMS. Their solution to us, via FOS .. was to sign off on their offer to us which stated ... RAMS would release u
  • doyla66
    doyla66 says #
    With me the Bendigo and Adelaide Bank on a home of 40 years , which they valued at $2.4 m in Jan 2009, denied in court that they h
  • doyla66
    doyla66 says #
    Keep it coming Tom; its time to gore a few Bank$ter Bastards running amok in that smelly ASIC/FOS/COSL freshly manured paddock.
  • doyla66
    doyla66 says #
    Nab wanted us to sign documents and hand over our home to them no ifs or buts just give us your home. That would have been nice a
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