volitans wrote:
OK, its been a while but here is an update on MY dealings with Lifecorp – THIS NOT A RECOMMENDATION JUST MY OPINIONS AND A FACTUAL ACCOUNT OF WHAT HAS HAPPENED.2 days ago I settled on a property shown to me by Lifecorp. EVERYTHING they have spoken of has rung true though I am yet to receive the cashback (that many devlopers offer…[Read more]

mrstinky wrote:
Thanks Richard….I have  capital resources & property equity and can service potential future borrowings with potential rental earnings.. problem is acquiring upfront outlay to purchase.. without a (current) established income. I've read of someone in these forums being able to borrow utilizing only their assests as securi…[Read more]

Hopeful1 wrote:
Thankyou for that suggestion Erik and also for the encouraging comments about giving it a go. How easy is it to get a private loan and what sort of interest and payback time would we be looking at? Most people here seem to think that we just want to borrow money to pay debt. That isn't really what we want to do, we are in the s…[Read more]

Your strategy appears to have been based on the assumption that you cold access equity (create further debt) to meet your commitments.Your bank is giving you temporary relief to allow time to prove your can service the loan from income.Using debt to service debt, in spite of the advice of the books and the spruikers, is not a sustainable model.You…[Read more]

Michael,Context best before making the statement rather than afterwards BTW and as a suggestion, unless you are associated with the The Mortgage Detective and/or other businesses with a smilar name, might be wise to use something else as your handle

duckster wrote:
However you should not purchase an investment property based on a tax deduction.

Ne'er a truer word was said.

michael k2 wrote:
*snip* Depending upon your own personal situation, a LowDoc lending option could possibly provide you with the finance you require. Of course certain requirements are needed in order to obtain LowDoc finance.Regards.

…an income, for example.

mortgagedetective wrote:
*snip*As an investor, interest is a tax deductible expense, which means that money in an offset account reduces your tax deductions, which for most people, is not the name of the game and this is especially true if you have an interest charging personal debt.*snip*

 I'm not sure i agree with any strategy that promotes…[Read more]

By salary sacrificing, you didn't pay tax on the expense, therefore there is no tax to claim back.

As above plus it is reasonable for the insurer to want to make sure the house is "complete" when construction is finished and a house without front landscaping, aircon or window dressing aint finished or, therefore, easily sold.It is what it is.

Fixed rate swaps for > 3 year terms have been gently trending up for a couple of months so it is unlikely you will see any material reduction in fixed rates absent the economy going so far down the toilet the RBA panics.

It's called a "variable" rate for a reason.

Terryw wrote:
i personally wouldn't even consider them. Low capital growth, hard to sell and hard to finance.

What Terry said. Finance can be *very* difficult.

The number of credit inquiries – in conjunction with other data – is a good predictor of poor loan performance and banks generally count it as a negative.  

bfantastic wrote:
Anything over 80% will incur LMI, when they are involved they want to see where the deposit money is coming from and want to see records of genuine savings. you can pay up to $10,000 for high end LVR loans over 95%. the old Rams were good for this as they were able to over come the LMI problem by providing in in house Mortgage…[Read more]

ientrep wrote:
Honestly, there is nothing wrong with the direct selling industry overall – unless:- you join at the bottom of the chain and there are 1000s and 1000s of people above you, and,- your uplines lie – about their status and about the business in general- you do not learn about the actual marketing and business side of it, which is the…[Read more]

Borrowing your way out of arrears is (a) hard and (b) dumb.If you can get it done, you will end up with more debt than you have now at a higher rate.If you can't carry the debt, reduce it. 

Blame refugees?

The best way to start learning from your mistakes is to accept, in the first instance, that they were *your* mistakes.Hope it works out.

perpetrator wrote:
The broker told my brother that the val on his property had in fact come in short and he would need to pay the shortfall. Also as the finance was not approved by the due date an extension was asked for, however, the request was never dated when signed by my brother. Is this document nul and void?*snip* The conditional fax…[Read more]