While I was browsing the site, I came across this article. It potentially can have quite interesting consequences.
http://www.jenman.com.au/NewsNews1.php?id=222
http://www.jenman.com.au/NewsNews1.php?id=222
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PT_Bear,PT_Bear said:I'm supprised that there hasn't been a follow up to this article yet. Given the past history of Jenmans comments on Henry Kaye and other investors using this strategy, these sort of circumstances might be seen as vilification.
Mark,Mark Laszczuk said:It wasn't so much the article that shocked me, but the fact that people could pull out of contracts THEY made the decision to enter, on their own. If people are in the position that they are facing financial ruin, essentially the only person who needs to take repsonsibility for this is the person they see when they look in the mirror.
Maybe they did a great job. Maybe they did a lousy job!Tibor said:at the same time I'd like to mention that the selling part is also can blame themselves being very greedy and they also had a great advantage by having smooth talking sales people to do their job, who obviously did a great job.
Aceyducey said:Frankly I can't see Mirvac being too happy if many of the people who have bought from them can't settle....they may look at strategies for helping people settle, but legal action is expensive and unlikely to get cash from someone who has none.