Banks Failing To Help Customers Struggling Due To Interest Rates
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- Опубліковано 19 тра 2024
- As Aussies struggling with their rising mortgage repayments, it’s been revealed that our banks are actually making it worse by refusing to help their under pressure customers.
So, do the banks owe it to us to do better for us all?
Financial Rights Legal Centre’s Alexandra Kelly joins us.
I’m down $137k this year, scared my bank or brokerage will fail. Savings are dwindling due to high prices and debt.
Government stimulus helped Americans save, but I don't expect this trend to continue.
Pandemic savings are gone for middle and low-income families. My trading skills need improvement.
Desiree Ruth Hoffman, my market strategist, says the S&P 500's drop clears a path for a rally. She’s a great resource.
Plan properly or consult a seasoned professional with a good track record like Desiree.
Be cautious, but definitely look into Desiree Ruth Hoffman. She's taking new clients now.
Banks are there to make profit for shareholders.
Unfortunately borrowers also naively took up too much loan that sinked them . Also bought houses are too big for small family 🙄
Had the good easy times with1% rates etc. Those days are gone
They don't care and all they care is profit.
21 Solar Earth yrs, just to save 4 a depost 4 an average home @ 550,000$. It ain't what it used 2b, it ain't what it used B2.
Surprise 😂
Keep voting labor everyone. Theyre here to help! Everything's fine 😂
This is happening even in the USA, some people are too proud to ask, once you get over that then it will be better, but the person can’t wait too long or over 60 days.
"I borrowed too much, give me money to pay the mortgage off." Just you wait, the gov will give tax payer money to mortgagors.
I thought they closed all the branches down and are going cashless very soon?
Hopefully, the government will get their inflation under control instead of introducing even more inflationary policies 😒
Nothing they can do. International billionaire tax cuts are to blame.
It’s the person borrowing to much is not the banks problem 🤔🤔🤔🤔🤔 simple don’t borrow so much 🤔🤔🤔🤔🤔
The average price of houses in Sydney is 1.6m. The cost of rent is more than repayments, and you can be kicked out for any reason at any time. You say that like people have a choice. They buy the cheapest they can and then the government crushes them anyway.
The banks "assistance" during covid, no doubt, has a part to play in how we got to this point.
Although they paused repayments on mortgages for borrowers in hardship during lockdowns, they continued applying interest. Adding thousands of dollars to the balance and possibly tens of thousands over the life of the loan. While their help may have meant a short-term profit, dip they ensured that it created a long-term gain from those who needed assistance