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Banks considered Foreclosing; Blamed on a clerical error.
Topic Started: 14 Oct 2016, 01:18 PM (5,182 Views)
Trollie
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Rastus2
23 Oct 2016, 10:06 PM
People can believe whatever they like.

They can believe that a 'clerical error' caused banks to start a process that caused them to panic and reverse.

They can believe it was only 1 property, and that it was only commercial, in which case, no parliament would have reversed what has already been done previously when a commercial loan fails through no fault of the borrower, thus setting a precedent for every single commercial loan in Australia to demand they be given the same treatment.


They can believe that the Shoddy blog is correct, despite it's author having no legal background.


Personally, I like to think for myself, instead of thinking like a sheep... but carry on.
So your entire argument boils down to wanting people to blindly believe you.

No one has to take it on faith, it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there.

Edited by Trollie, 24 Oct 2016, 10:20 AM.
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Rastus2
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Trollie
24 Oct 2016, 10:20 AM
So your entire argument boils down to wanting people to blindly believe you.

No one has to take it on faith, it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there.
Nope, it boils down to people questioning instead of blindly believing others.

So you are claiming that the way to protect yourself from a bank foreclosure on a commercial loan is simply to live on the premises ?

Did you tell that to the farmers who were foreclosed on commercial loans , or other commercial borrowers who happened to live in the top of their shops when the bank has foreclosed over the last 100 years ?
Edited by Rastus2, 24 Oct 2016, 02:46 PM.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Trollie
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Rastus2
24 Oct 2016, 02:39 PM
So you are claiming that the way to protect yourself from a bank foreclosure on a commercial loan is simply to live on the premises ?
Trying to attribute claims to me that I never made won't save you.
Rastus2
24 Oct 2016, 02:39 PM
Nope, it boils down to people questioning instead of blindly believing others
Exactly, why would we believe you when none of the facts back you.
Rastus2
24 Oct 2016, 02:39 PM
Did you tell that to the farmers who were foreclosed on commercial loans , or other commercial borrowers who happened to live in the top of their shops when the bank has foreclosed over the last 100 years ?
Just another strawman. You've lost, you need to let it go.
Edited by Trollie, 24 Oct 2016, 02:59 PM.
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Rastus2
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Trollie
24 Oct 2016, 02:57 PM
Trying to attribute claims to me that I never made won't save you.

Exactly, why would we believe you when none of the facts back you.

Just another strawman. You've lost, you need to let it go.
Why would I let go of another skewered fish...well, more of an eel really...


oh, so you did not say
"it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there.'

Thus saying that the bank did not foreclose, because someone lived on the commercial property :re:


Sure you didn't :lol


So, are you claiming that the bank reversed it's 'clerical error' of starting foreclosing because the person lived on the commercial property, or not ?

If you are, then explain why they don't do that reversal for other people who live on commercial properties ?
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Khaderbhai
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Wealthy Suburbanite

Trollie
24 Oct 2016, 02:57 PM
Just another strawman. You've lost, you need to let it go.
You can always tell when Rastus is losing it... he always starts hammering out long posts trying to explain his losing position.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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Blondie girl
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Rastus2
24 Oct 2016, 04:00 PM
Why would I let go of another skewered fish...well, more of an eel really...


oh, so you did not say
"it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there.'

Thus saying that the bank did not foreclose, because someone lived on the commercial property :re:


Sure you didn't :lol


So, are you claiming that the bank reversed it's 'clerical error' of starting foreclosing because the person lived on the commercial property, or not ?

If you are, then explain why they don't do that reversal for other people who live on commercial properties ?
Stop it stop it stop it!!

:lol

In someone's perfect world the banking system plays nice and there is no such thing as banksterism tactics.

Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Rufus
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Rastus2
24 Oct 2016, 04:00 PM
Why would I let go of another skewered fish...well, more of an eel really...

oh, so you did not say
"it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there.'

Thus saying that the bank did not foreclose, because someone lived on the commercial property :re:

Sure you didn't :lol

So, are you claiming that the bank reversed it's 'clerical error' of starting foreclosing because the person lived on the commercial property, or not ?

If you are, then explain why they don't do that reversal for other people who live on commercial properties ?
Whether someone lives there or not has absolutely no bearing on this case.

A dog kennel is a commercial enterprise and it must be zoned accordingly otherwise the owner can't run it as a kennel. In fact if someone just wanted to buy the property as a house and close down the kennel operations, a bank would still see it as commercial premises until the zoning is changed, and the local government may not alter the zoning back to residential.

There are no shades of grey, it's either commercial premises or it's not, and to have an operating kennel it MUST be commercial otherwise the council would shut it down.

I don't blame the owner to making as much fuss as he can to save his business, I would think it strange if he wasn't prepared to fight tooth and nail, but the only reason for a bank to hold foreclosure action would be the bad press. They obviously decided they could live with the loan for the moment and they have allowed the status quo to remain for now.

Take risks - if you win you will become wealthy, if you lose you will become wise
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Rastus2
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Rufus
24 Oct 2016, 05:23 PM
Whether someone lives there or not has absolutely no bearing on this case.
Perhaps you should point that out to the person who posted it, Trollie, and not myself .


I have been the one pointing out that Trollie's claim seemed unlikely, in case you did not notice.
Edited by Rastus2, 24 Oct 2016, 07:04 PM.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Trollie
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Rastus2
24 Oct 2016, 04:00 PM
Thus saying that the bank did not foreclose, because someone lived on the commercial property
No you are incorrect.

They made the choice not to in that instance, no where did I say they would do the same everytime as per your strawman. You're just trying to drag me down to your level and it's not going to work.
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Rastus2
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Khaderbhai
24 Oct 2016, 04:17 PM
You can always tell when Rastus is losing it... he always starts hammering out long posts trying to explain his losing position.
It's called spelling out the facts... you should try it sometime.

You can always tell when you are losing it, you close your account, create a new one, or simply stop debating the issue and cry "abuse!!!".
Trollie
24 Oct 2016, 07:14 PM
No you are incorrect.

They made the choice not to in that instance, no where did I say they would do the same everytime as per your strawman. You're just trying to drag me down to your level and it's not going to work.

"it was a commercial loan because it's a kennel. That's why the bank acted the way it did but they didn't consider the fact the owner also lives there."


so the 'fact' that the owner also lived there was only important in this one particular commercial loan... eh ?


lol, keep digging trollie :lol

Rufus has already explained that him living there was not a factor... but don't let that stop you.


Edited by Rastus2, 24 Oct 2016, 07:26 PM.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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