The dragon has gone 100 pts
ta
rolf
ta
rolf
RBA drops rates by 100bp!
- Thread starter MichaelW
- Start date
From what you have just outlined you accept responsibility therefore you are not a victim. Our greatest periods of growth came after we we had a fire at our business and a secretary with both feet in the till. Technically we were insolvent but managed to trade our way out of trouble by putting our heads down and bums up and worked 7 days a week for a year.
The insurance company had a clause in the fine print that basically said if we went under they did not have to pay. It took 2 years of fighting before we saw any of our entitlement.
Moral of the story? Take the bit between your teeth and never say uncle
Victim - never!
Just experiencing a massive learning curve and will always come out stronger, sure there are lapses of strength but all I have to do is come on here and it comes flooding back!
Then if course I check to see how famous I am on the mcp site and resolve gets even stronger!!!
Just experiencing a massive learning curve and will always come out stronger, sure there are lapses of strength but all I have to do is come on here and it comes flooding back!
Then if course I check to see how famous I am on the mcp site and resolve gets even stronger!!!
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.
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.
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Wow thanks for that full set then!
Still puts ING on 6.04% on the low doc but everything else is looking good!
OK, this is where I get lost a bit. Unless you have missed payments and/or have high exposure to 1 bank and/or paid at the top of the market for properties in an area which has dropped >30%, why would the banks recall your loans? It's especially perplexing if you purchased at >80% LVR as the bank has no risk. I say this because the mortgage insurers have underwritten the whole loan. In fact, it makes more sense (if payments are being met) for banks to close loans <80% LVR (no insurance) than >80% (LMI cover).
Hiya Ms Jade
The dark day scenario proposed here is on the basis that the mortgage insurers have long since folded.
ta
rolf
The dark day scenario proposed here is on the basis that the mortgage insurers have long since folded.
ta
rolf
Aha! Thanks, Rolf.
They're not having much fun in the current environment. QBE just bought out PMI, and Genworth have certainly seen better days:
http://finance.google.com/finance?q=NYSE:GNW
Got to love that professional package discount! The $3600 I spent unlocking $610k from 7.65% is proving to be one of the best decisions I have made.
Peter
Hi Boatboy
Aussie John on t.v.last night said -100pts on Monday.
Aussie John on t.v.last night said -100pts on Monday.
Hi Boatboy
Aussie John on t.v.last night said -100pts on Monday.
Be still my beating heart, if ME do it we've won the trifecta
Thanks
Dave
Hi Rolf, I still do not understand. I borrowed all the money on 80% without mortgage (I donto pay, but banks paid for MI). Will I get called in?
