New posts

Reply to thread

Message

they sold the CDOs in Australia to councils and NGOs , so don't worry we got a share of the pain ( from the GFC ) as i hear it most in Australia were lobbed at 'sophisticated investors ' ( aka big piles of money advised by financial advisers and tax consultants )

but i guess we will find out next time when our insurance companies beg for mercy ( like AIG did in the GFC )

i suspect the mortgagees will all end up in the same place just through different processes ( in most nations ) i will be watching with curiosity how the Muslim communities cope , just in case they have a better system

unless mortgage insurance has changed a bit , it seems it is only there to protect the lender from a major harm

i have watched carefully how 'income protection insurance' has played out ( or resisted paying ) on a buddy who had multiple Super funds and personal insurance , so can imagine what happens during mortgage stress ( after all the second mortgage provider normally requires such extra insurance )

<blockquote data-quote="divs4ever" data-source="post: 1156921" data-attributes="member: 86149">they sold the CDOs in Australia&nbsp; to councils and NGOs&nbsp;&nbsp; , so don&#039;t worry we got a share of the pain ( from the GFC ) as i hear it most in Australia&nbsp; were lobbed at &#039;sophisticated investors &#039;&nbsp; ( aka big piles of money advised&nbsp; by financial advisers and tax consultants )&nbsp;but i guess&nbsp; we will find out next time when&nbsp; our insurance companies beg for mercy ( like AIG did in the GFC )&nbsp;i suspect the mortgagees will all end up in the same place&nbsp; just through different processes ( in most nations ) i will be watching with curiosity&nbsp; how the Muslim communities cope , just in case they have a better system &nbsp;unless&nbsp; mortgage insurance has changed&nbsp; a bit&nbsp; , it seems it is only there to protect the lender from a major harm &nbsp;i have watched carefully&nbsp; how &#039;income protection insurance&#039;&nbsp; has played out ( or resisted paying ) on a buddy who had multiple Super funds and personal insurance&nbsp; , so can imagine what happens during mortgage stress ( after all the second mortgage&nbsp;&nbsp; provider normally requires such extra insurance )</blockquote>

[QUOTE="divs4ever, post: 1156921, member: 86149"] they sold the CDOs in Australia to councils and NGOs , so don't worry we got a share of the pain ( from the GFC ) as i hear it most in Australia were lobbed at 'sophisticated investors ' ( aka big piles of money advised by financial advisers and tax consultants ) but i guess we will find out next time when our insurance companies beg for mercy ( like AIG did in the GFC ) i suspect the mortgagees will all end up in the same place just through different processes ( in most nations ) i will be watching with curiosity how the Muslim communities cope , just in case they have a better system unless mortgage insurance has changed a bit , it seems it is only there to protect the lender from a major harm i have watched carefully how 'income protection insurance' has played out ( or resisted paying ) on a buddy who had multiple Super funds and personal insurance , so can imagine what happens during mortgage stress ( after all the second mortgage provider normally requires such extra insurance ) [/QUOTE]

Verification