Perhaps as a group  owners of sites like this shld have an area on the site that outs people like this.

I get a lot of spam mail from another QLD guy who promotes 1.00 property options as the way to make millions.

Thankfully some smart journos at fairfax did a couple of articles on Myall and Kotsis  as per links i put up ,but they never followed it through.

Back to my situation

I cld go to a managed sale process.

The Mortgage insurer will cover the bank.

I guess it will be a negotiation with them later.

One other piece of advice I would give is dont have all your properties with one Lender.

I am behind on the large mortgage but the CAN bank wants to force sale on both even though the smaller mortgage is current..

http://www.smh.com.au/national/investors-lose-millions-20121027-28cnh.html

http://www.smh.com.au/national/buried-in-debt-after-property-promises-fail-20121029-28drp.html

I bought mine about 6 or 7 years ago

These people pretty much have sunk the cairns market with so many victims it has depressed the whole market there.

One I bought was sold as a 4 bedroom unit ,i did buy unseen and it turned out it was student accom for southern cross university

Just about all the units in the block have gone mtgee sale

They even had an associate managing them so body corp rates were enormous ,BC was paying for an onsite mgr who actualy lived in sydney