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Sometimes it's better to just give up while your ahead..

You don't know that,if you have a property that is,over valued-over-priced-over rented ,and with borrowings that cannot possibly justify the risk from high pressure tactics from dropkick spruikers with multicoloured graphs and fast buck ideas ,it always ends the same way just the timeframe is...

From the local papers in Qld, there is going to be over 5 auctions like the 1k one over the next few weeks,i have been along before and watched what happens and from the way i see if not many turn up on the morning then it's open slaughter,,I will let you know what happens..

I have been along to some of these fire sales and seen what happens very very quickly,but i have never seen anything go for 1k but if noone turns up on the day and you are the only one with your hand in the air then what happens happens..

http://www.abc.net.au/news/2012-02-09/court-asked-to-reverse-sale-of-27bargain27-home/3820758

Maybe you are maybe you are ,,Banks know the realities and are always happy to lend if you have some extra collateral,and a contract is a contract and depending on the silk wig defending it can be taken on several different levels..

Does anyone know if most Banks loan papers still have a "ALL Monies Mortgage Clause", in there somewhere in secrecy,or a material change in circumstances-or immediate payment in full..