The dragon has gone 100 pts
ta
rolf
ta
rolf
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
I don't blame anyone except me!
I got into this aggressively and knew by doing so there were risks. Over a year ago when things began to change I tried to work things out but the combo of losing my job, rising rates and nothing selling all came together at the same time and made life difficult.
Today I put together a spread sheet for NAB showing our position moving forward having sold properties, new job with good salary,additional rents for 2 properties not producing last year (under construction etc) increased rents and falling rates. There was an option to move to P/I which I hope we can pick up if we can't get a change of mind on this one. If all else fails I will complain to the ombudsman which got results last year when 5 days before they were due to release titles for a refinance to another bank they cancelled and wouldn't release.
Worse case scenario is they make us sell a $450,000 house and repay their $340,000 which I didn't want to do with rent at $390 but no doubt they will damage the credit rating I have managed to protect all year.
http://www.bankwest.com.au/Media_Ce...st_lowers_variable_home_loan_rates/index.aspx
BankWest 1% but not till the 20th of February.
http://www.ingdirect.com.au/assets/pdf/ING_DIRECT_Mortgage_Rate_Change_040209.pdf
ING 1% on the 16th of February.
... You are not alone 80% of posters on this site are going to experience the same scenario. If you act now you might be one of the lucky one's. Look at selling something and get your LVR's below 30%....
Aha! Thanks, Rolf. So all we need to do is work out how much the % of mortgage defaults would have to increase to put the MIs at risk...
that makes me on 5.04%.
awesome! - now, where to buy, where to buy, chasing something new-ish with a 6-7% yield....CF+ here we come.
Hi Boatboy
Aussie John on t.v.last night said -100pts on Monday.
Hiya Ms Jade
The dark day scenario proposed here is on the basis that the mortgage insurers have long since folded.
ta
rolf