Pilbara Properties. Greedy, Misguided or Hopeful?
Everyone has a story about the recent mining boom and bust in WA. Bob Jacobs was approached by several people to investigate enormous loans against properties worth very little compared to mortgage payments and rental income. Before the “blame gamers” jump in and say property investment is about risk and buyer beware please spare a thought for the individuals behind the problems. Not all cases are the same.
Were people misled and by whom?
What checks and balances were employed by lenders when the loan was approved?
In view of the number of misconduct issues uncovered during the Royal Commission into banking, superannuation and financial services, it is only fair to investigate.
Auxilium Partners are not just insolvency accountants for businesses. We pride ourselves on helping Mums and Dads. Anybody adversely impacted by Pilbara property problems is welcome to approach us because we have the forensic investigation and business advisory expertise to help.