New Developments on Whether You Can Get Your Mortgage Cancelled

If you’re not familiar with the story on how you could have your mortgage cancelled, why not take a quick peek at the one-minute long movie trailer? You can find it here.

Our recent articles about this opportunity have really thrown the cat amongst the pigeons. People affected by the crisis have sent in their thanks, feedback, criticism and remarkable stories.

One couple that emailed were a victim of the kind of manipulation the video exposes not once, but twice. Both when they got their initial loan and when they refinanced. They only found out because the banks sent them the proof by mistake.

But we’re just getting started. Soon, anyone in Australia will be able to find out if they can get their mortgage cancelled too.

The thing is, we’re not the only ones exposing this mess. Denise Brailey has worked hard in the name of individual wronged borrowers, as well as spearheading the effort to wake up Australians generally.

In her latest email to me she laid out her plans. Her evidence is explosive and cannot be ignored any longer. If you’re interested in the story, why not become a member of her dedicated consumer support association here.

Now, the real question is what will be done about the scandal as it goes mainstream. Will the regulators allow hundreds more borrowers to cancel or reduce their loans? Where would that leave the banks? One subscriber wanted to know what would happen to our housing market:


‘Hi,

‘My question is whether this is going to force financial institutions to become honest and cease giving out “easy money” and is this going to impact on getting our housing market more honest? Do you see this as a beginning of the end of our “Fannie Mae” housing market and its leveraged pricing bubble?

‘Regards,
Sarah’

You never know what effects something will have in the financial world. It’s driven by people’s perceptions, and those are very unpredictable. The same piece of news can have drastically different effects on different days.

You might recall American big-wigs like Ben Bernanke assuring the world that sub-prime debt was just a small problem. The rest is history.

Well, we don’t even know how big this problem is yet. That’s part of the fuss Denise Brailey is making. This could be an enormous issue, but nobody knows and nobody in government seems to want to find out.

There’s certainly a chance it will cause a real upset for Australia’s banks and housing market. That’s a big problem because housing and financial shares are two of Australian retirees‘ biggest financial assets.

Speaking of which, Murray has just positioned his subscribers at Slipstream Trader to profit from a struggling Australian financial sector. You can find out more here.

But in the end, cancelling your mortgage is the best way you can go about protecting yourself from any financial debacle in Australia. It’s part of ‘definancialising’ your life. That’s a trend we hope to build on in The Money for Life Letter.

The recommendation in our next monthly issue will have more in common with bears than shares…and it could be just as profitable, and far more enjoyable.

Nickolai Hubble.
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Nick Hubble is a feature Editor of The Daily Reckoning Australia . Nick has spent the last three years discovering lots of new, exciting and surprisingly simple ways to generate money for retirement. He’s put all these ideas into his investment publication The Money for Life Letter. If you're already a subscriber to these publications, or want to follow Nick's financial world view more closely, then we recommend you join him on Google+. It's where he shares investment research, commentary and ideas that he can't always fit into his regular Daily Reckoning emails.


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