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They are not talking about normal interest only loans that automatically revert to p & I they are talking about lines of credit and balloon type deals which are interest only and then payment required in full such as those often granted to developers , interest only loans for normal IP investors...

the point of the thread really is what actually happens. TF have u ever called in a resi loan with the only reason being that the value of the property had dropped from market forces? I have never seen it but ur experience would be more hands on.

No other mortgages with that lender . Given the loans on the property were over 1.5m and low doc and it was the mortgage insurer who picked up the mistake I am pretty sure they would have done whatever possible to get dollars back. Mortgage insurer told them the insurance was invalid and as...

What about a quick summary of what it says Terry?

i have never actually heard of a bank calling in a resi loan but i know CBA did insert those clauses during the GFC. An interesting thing happened to me a few years ago that tends to support Shadows thoughts. A nice bank accidently lent me $400+k by mistake taking my LVR to around 115-120%...