Forum Replies Created
Thanks for your help rogue! [
]Living South East of Melbourne with little option to investigate properties outside the state means I “probably” wont get that rare opportunity for quite a while. I really have a lot more of the market to study before having enough peace of mind to purchase a place this side of 2005 anyways.
I have a relatively low income as im still at uni so interest wont be much of a problem, which is what you said about the small principal amount anyway.
I work at a bank (no, im not a teller [
]) so i get an extra .25% added to any fixed term deposits with them… nothing to write home about over 12-18 months though.What sort of returns have those balanced funds been yielding recently? They do seem like a good idea from the point of view that I can add to them they are diversified.
Steve.
“Knowledge is Power”
As I mentioned in an earlier post, there is no specified end date for the FHOG. At least not one that the FHOG dept of the State Revenue Office are willing to disclose… [
]Even if they abolish it though, something new will come through to help out first home buyers.
I’ll be continually chasing this up as it affects me greatly, so i’ll keep you posted.
Steve
“Knowledge is Power”
Depending on the bank… something like this
5 days: Phone calls begin.
10 days: Phone calls continuing + reminder letter sent.
10-30 Days Past Due: Phone calls continue
30 DPD: Another letter if previous letter not responded to or an arrangement made via telephone.
60 DPD: Default fee ($30 I think)
60-90 DPD: Phone calls and letter continue
90 DPD: Demand notice issued with another $30 fee (Not too sure about this part) – Demand notice basically states that if no payments are made within 30 days, the mortgage will be passed to asset realisation
120 DPD: Account moves to loss mitigation (asset realisation people)
120-180 DPD: A couple of phone calls are made to advise that the house will be taken after a specified time if account not brought back up to date (Time allowed depends how far the payments are in arrears – possibly based on $$ value). You can still negotiate payment arrangements at this time, but you better have a pretty damn good offer.
180: Game Over. Sherriff contacted and eviction notice put on property. They might give 5 days or so for onwers to leave before the locks are changed.It goes pretty much along those lines I believe. Im sure it would vary from financial institution to financial institution though, so what i’ve said wont be 100% accurate.
Hope that helps (whatever the reason is that you wanted to know [
]).Take care,
Steve“Knowledge is Power”
*raises hand* I work in debt collections for one of the pillar banks. [
] (Please don’t hurt me).The people I deal with (only those in arrears or over their card limit), usually dont have a clue about credit cards. They simply don’t understand how to use them!
It makes my stomach turn when I speak to people who allow $500+ per MONTH in their budget for credit card interest. Parents with 4 kids, young couples living of govt benefits, students aged under 20! I warn them that they will get a late payment fee of $x and an over limit fee of $y and they just say “Yeh, no worries” as if it’s something unavoidable???
On the other hand, the people I associate with are like the majority of you guys who support credit cards. They use them for a convenient access to funds, and reap the benefits of the reward programs. Most have never paid a cent in interest.
Credit cards are great if you are honest with yourself about your capacity to be able to repay the balance at the end of each month. They are a never ending nightmare of debt if you don’t.
Anyway, if you guys have any questions about details of credit cards, feel free to direct them my way [
]. I also deal with personal loans, (secured and unsecured) transaction accounts and, slightly more relevantly, mortgages. So if you have any questions relating to the Collections side of those products (not that any of you ever would []), direct those here as well.Ciao for now,
Steveps: Working for a bank, i get fee free accounts. I have never once used my cheque account for a cheque despite being charged nothing for the privelige.
“Knowledge is Power”
Hey SIS,
Damn good question. If you look at http://www.firsthome.gov.au/ you can view the eligibility checklist for each state. Go down to the bottom of the page and select the applicable state.
I’ve never seen or heard evidence to say that you can’t claim the grant under those circumstances. It does seem like a too good to be true loophole though.
I tried contacting the State Revenue Office, but it’s outside their working hours [
!] Sorry!Hope the website is of some help to you,
Steve.“Knowledge is Power”
Hey guys,
Just contacted State Revenue Office in Victoria to clear up a few things about FHOG.
1. Must move in within first 12 months of purchase (We already knew that)
2. There is no specified end date for the grant at this point in time.
3. As of January 1st, you must use the property as your PPOR for 6 months minimum before you can use it as IP.
Previously, there was no minimum amount of time that you had to stay there before moving out, but the SRO would indeed conduct some auditing if moved out too quickly. They would get you to fill in paperwork explaining circumstances for moving out, how long you lived there etc. They would also look at usage on your accounts. [}
]If anyone else has questions, ring General Enquiries line on 132161 (Victoria).
Hope this is useful,
Steve“Knowledge is Power”
Or you could just do what Phobia has mentioned… [
]*sigh* I’m so slow…[
]
YI.“Knowledge is Power”
Hey guys,
The link mentioned in an earlier post http://www.the-richest-man-in-babylon.com/, will get you the condensed, re-written version of the 1926 book.
You only need to refer one other person by e-mail to be entitled to it, and you can refer up to 5 people for up to 5 book thingies.
The e-version of The Richest Man In Babylon is about 200k in size, and is in Adobe Acrobat format.
If anyone is having trouble finding a friend to refer [
], i’ll be back tomorrow and can send it to anyone who wants it then.Take care all,
YI.“Knowledge is Power”
I live in Parkdale (between Mentone & Mordialloc), about 20k South East of Melbourne Couldn’t be more than 10 mins drive away from Sooshie’s place
YI.
– Sooshie: You ever catch the Frankston train line? I go past Moorabbin and Bentleigh station nearly every day
“Knowledge is Power”
Hey guys,
Here’s a few…
“Only fools dream of the one thing they can’t have…” – (Sean Connery’s character in the film First Knight).
It’s not meant to be depressing, but more to remind you to “Keep It Real” [8D] and not to torture yourself too much over something that will never happen, or has already happened and can never be changed. (That’s what it means to me anyway).“He who dies with the most toys, still dies…” [xx(]. – Anon.
Once again, not a bleak outlook on life, but more a reminder to treasure what’s important, whilst it’s important.And finally…
“A man will pay two dollars for a one dollar item he wants, a woman will pay one dollar for a two dollar item she doesn’t want.” [}
] – Anon.
Wont say anything about this one…[^]Have a nice day all!
YI.“Knowledge is Power”
Melb auction clearance rates down to lowest in 13 years eh (53%)? No kidding! Of 23 auctions in my suburb and the two surrounding suburbs at the weekend, just 1 was sold. The 3 that i went to had nothing but vendor bids! (Made for an exciting Saturday [
]It was interesting that the BIS Shrapnel guy predicted a flattening out of the market in Sydney and Melbourne at worst. Seems to be one of the few experts with little or no vested interest in avoiding a crash, who has actually forecasted without doubt stability in those cities. (From what i have read anyway).
…Congratulations to Mrs Kleinmann too… [
]
YI.“Knowledge is Power”
Hey Raff,
Can’t make it on Saturday [
]How often do you have these meetings?
Would they be at the same venue in future?
“Knowledge is Power”
]
]
] (Please don’t hurt me).
]), direct those here as well.
!] Sorry!
]
