Are Lenders Failing To Do Due Diligence On Borrowers?

[donna]

Hi All,

I think this is worthy of discussion. Here is s family that has a combined income of $8700 per month and repayments of $4000 (45.9%). Their lender says they can afford the repayments and they've not been given proof of hardship. Now the borrowers face mortgagee sale of their...

[donna]

My guess is both directors will need to sign. The offshore Director can do a Zoom call with the lawyer and do the signing so 'in front of the lawyer'. Plus get their signature witnessed as required.

(I've done this - so I know it works).

cheers,

Donna ...

[donna]

^^ I added the link Perry.

[donna]

Well, this makes for some interesting reading...

yes there is rampant inflation but it's not likely to crash as it's support by the Central Banks who fear deflation and worse bankruptcy. Consider how you're investing $$ - i.e. don't leave it in the bank.

from the link........

[donna]

It's good to get varying opinions. I'm going for the 1yr fixed for this loan. I too have been burned with fixing for too long.

Found this on stuff - still a lot of loans on floating even with the high-interest rate....

cheers,

Donna...

[donna]

I’m keen to know what to do as I have a loan coming off 2 yr fixed and my thoughts are to get whatever is the lowest rate so that is 1 yr fixed am I doing the right thing? I don’t want to end up with 4% or more in a year.

cheers
Donna

[donna]

Tough call. Would be hard to give up the beach but if you end up feeling unsafe in your home it’s time to move on. Hopefully with added security tech that won’t be any time soon.

With security though if there’s a lot of it or it looks high tech that too might encourage a break in...

[donna]

Is anyone here using Heartland Bank? Is their offer just for PPOR or rentals too?


cheers,

Donna

[donna]

Though interest rates not forecasted to move upwards for many months i.e. May 2022 and OCR up 25 basis points and as much as 150 basis points by 2024 (but that's quite far out).

Am I missing something chook?

cheers,

Donna...

[donna]

Plus check for software updates. I use Chrome and Safari.

cheers

Donna...

[donna]

Thanks Lorenzo. Our tech has fixed the issue.

cheers,

Donna ...

[donna]

Get a property accountant like GRA.

Plus read up on capital gains tax etc. It’s all about your intention as well as the bright line test.

cheers

Donna

[donna]

Was the legal expense and did the property start as a rental within the same financial tax year? Maybe this is the starting point. Eg legal expense maybe April 19 and rental started Jan 20

Cheers

Donna ...

[donna]

So you don't believe BTC will reach 100K or more anytime soon?

Do you think this looks reasonably accurate? https://longforecast.com/bitcoin-pri...019-btc-to-usd

cheers,

Donna...

[donna]

Jeffa you’ve got some crypto currency too?

are you buying Bitcoin?

cheers

Donna

[donna]

Yeah - and he will be put up in emergency housing with taxpayers footing the bill. But remember to be kind!

cheers
Donna...

[donna]

A property accountant will be able to confirm what you can do imac.

you’re also best to make suggestions to get the accountant on the same page as you rather than just presenting one way to do it.

GRA - will set you straight and their clients are located everywhere....

[donna]

Well done Chewbucca. You're taken back control and the future is bright.

cheers,

Donna ...

[donna]

Just got this email........



I bet it's the same for the rest of the country too.

cheers,

Donna

...

[donna]

^^ great topic and reply. Mike Hosking said d he’d be leaving if Labour get another term.

I wonder about leaving property empty and squatters.

Before you know it Labour will give squatters rights over your property