An article by Clancy Yeates Bad housing loans will increase one day, and bankers say that many of the loans that will go bad are probably being written now, when interest rates are so low. Australian borrowers are a fortunate bunch. Unlike households overseas, they’ve managed to avoid the wave of painful mortgage defaults that have brought other economies to their knees. Indeed, local banks say the share of people falling behind on their mortgage...
Continue Reading »
by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate From time to time some consumer advocates suggest to successful auction bidders, who might have a sudden change of mind, that they should refuse to sign anything and walk away. This is dangerous advice because in most parts of Australia auctioneers may lawfully sign a sale contract on behalf of a reluctant buyer (and hesitant vendor). (See “Winning Auction Bidders Beware“). Even if no signed post-auction contract, a...
Continue Reading »
