Recent content by JP1746

I don't know what they do in Nova Scotia but such a thing would be highly unlikely here. If a banker(or any one close to hin / her) were to be found to be bidding on a Mortagee in Possession auction of his defaulting mortagors property, that mortagor could / would basically have hin for breakfast !

The more things change the more they stay the same. I seriously doubt whether any of the blue chip bankers will get into real trouble - they've weathered the storm in similar circumstances in the past. One or two of the newer ones might though - what, with forced sales being up 30% this...

... And the rollercoaster loves me ! :-) Cheers James P

Thanks for that Y Man - I should come here more often. Still, I wouldn't call it mere current affairs stuff - biggest collapse since HIH and all ! JamesP

'bout the only theory I believe in as far as long term predictions go, is that everything eventually reverts to the mean !

I used to lean more toward the "we're going to bump along the bottom for a while" view. However, Given the Wespoint falure (see new thread above) and also the likelyhood of a .5% increase in rates by June, I am now thinking we may be in for a further dive / crash (call it whatever) of 15% to...

SIX thousand investors face losing $1 billion in the demise of property giant Westpoint, the biggest corporate failure since HIH. ... Already victims have had to sell their homes - and there have been reports of suicide and marriages splitting - as the corporate watchdog starts investigating the...

Does JS have an ulterior motive in his 'sell sell sell' comments ? ... Sheesh !!! Do the inumerable property investment seminar spruikers (many in various guises on this forum) have an ulterior motive in their 'buy buy buy' comments ? Why is it good to say 'buy buy buy', but evil to say...

Hi Trugoy - how 'bout this ? The king of real estate's cashing out Tom Barrack is selling most of his U.S. portfolio. Maybe you should be nervous too. October 22, 2005: 6:05 PM EDT By Shawn Tully, Fortune Senior Writer http://money.cnn.com/2005/10/21/news/newsm...dex.htm?cnn=yes NEW...

---------------- The industry has shed between 10 and 15 per cent of its professional staff in the past 12 months, according to L.J. Hooker's director of business, Michael Davoren. "At the first signs of rationalisations, people start to sell their rent rolls. It's a sign that the agency is...

Hi George Simply ask for a contract. It will say on there "Mortagee exersising Power Of Sale" or something similar, depending on the State. Chiao JamesP

Ditto ! A lot of these low doc thingies are going to come back and bite lenders in the bum in time to come. So said the MD of Westpac recently (in more polite terms, albeit) JamesP

Hi House Keeper I tend to agree with you on the above. I too was of the view that only one vendor bid is legal in NSW, though I am not certain - this could have changed recently. I've never sold at auction myself, though I have certainly bought many. You're right too - selling by auction...

Hi See Change Yep - had similar (same) with similar result. Get the job done promptly (within the notice) or they can do it themselves (and probably will) and they are also likely to fine you - and probably will, in todays money hungry council environment. And the fine ain't peanuts either -...