| Thousands of Victorians (Australia) risk | | | | be paying big weekly repayments already. And |
| losing their homes for falling behind in | | | | going back to renting will seem like a breeze |
| their loan repayments. Around 3700 home | | | | after struggling through high mortgage |
| owners have been issued with property | | | | repayments as well as all the outgoings |
| repossession warnings in the courts already | | | | associated with owning a property.It is |
| this year. This wil be triple last years | | | | forcast that the percentage of people renting |
| total.Causes for this are being blamed on | | | | will increase upto 36% of the population by |
| easy credit, soaring petrol prices, tighter | | | | 2015 compared to 26% now. A lot of people are |
| household budgets and new home owners not | | | | more than happy to just pay their rents and |
| allowing for rates, property maintaince and | | | | not be bothered with the hassles of owning |
| insurances when purchasing their first home. | | | | their own home. Generally these people are |
| When they were renting they didn't have to | | | | very good tenants, they look after the |
| pay these outgoings. Many home owners are | | | | property and always pay their rents on |
| living on the edge and more pain is on the | | | | time.These are the type I ensure my property |
| way with a likely rate increase.Australians | | | | managers put in my investment properties.They |
| owe $753 billion on home loans. A .25 % rate | | | | give me less problems and I am able to |
| rise would add an extra $14 a fortnight to an | | | | increase the rents in line with the CPI |
| average $225,000 loan. People are loading up | | | | increases. There will be some great |
| their credit on up to ten credit cards and | | | | opportunities for smart investors in our |
| they are not allowing for any hiccups that | | | | present economy. What I intend to do is off |
| can occur. An illness or rate increase can | | | | load any under preforming properties and |
| cause every thing to go pear shaped. Then | | | | replace them with some of the gems that will |
| they risk losing everything. Some home owners | | | | be coming up in the near future. There will |
| are desperate and are taking on no deposit | | | | be some great deals available to savvy |
| loans from last resort lenders preying on | | | | investors who are able to strike as they come |
| them.There were nearly 3700 court writs | | | | up. It will be a good time to reshape your |
| against loan repayers this year compared with | | | | portfolio to ensure you have blue chip |
| 2581 last year.Some people end up paying the | | | | properties in it. The real kicker is it will |
| debts or refinancing to another institution. | | | | not cost you any more to replace any of your |
| But the rest are opting out of their mortgage | | | | underperforming properties as you will be |
| and going back to renting. People are being | | | | buying in these new ones at heavily |
| taken to court for being behind in only two | | | | discounted prices.As these lean times move in |
| payments on their home loan.What some finance | | | | I intend to keep an eye on my own gearing. |
| brokers are doing is reaping in commissons by | | | | The last thing you want is to end up on the |
| signing up people to loans that they cannot | | | | scrap heap as well.To your investing |
| afford. There needs to be tougher laws to | | | | success.Leo LovePS If any of your family or |
| crack down on these irresponsible lenders. | | | | friends are interested please pass this on to |
| Non bank lenders had 4.5% of home owners | | | | them. am an experienced and passionate |
| behind in their payments by up to 90 days, | | | | investor. I buy typical mum and dad type |
| compared to bank loans of .3%As the economy | | | | houses that give me cash flow and capital |
| tightens there will be increasing | | | | growth. My website offers helpful tips and |
| opportunities for investors to pick up deals | | | | ideas for any type of investor to help you |
| as unsurspecting home owners get trapped into | | | | with your wealth creation. Using my site will |
| home loans that they can no longer afford. | | | | help to prevent you falling into the traps |
| This will also push up rental prices because | | | | the inexperienced investors do. |
| the people that default on their loans will | | | | |