1 /5 Brett Davison: I had a loan with this company for over 10 years where as they had a 1st mortgage over a very valuable waterfront block of land in Cairns, No arrears in 10 years, We decided to place our trustee company of our family trust in liquidation due to a business dispute which MA money were informed of some 5 years ago, the response from them was they had no issues with this after taking advice from legal counsel.
Five years on we were advised to get a vesting order to place a new trustee company in place to manage our family trust which owns the property, When doing so MA money tried to repossess the property without warning, they use extremly agressive lawyers and will stop at nothing to repossess your property if they feel they have the right to do so.
We ended up getting our vesting order and refinacing at a great cost to us.
My advise....... USE ANOTHER LENDING SOURCE !
They and their lawyers are not nice when it comes to this side of things, in fact my finance broker who has been in the business for over 40 years made the following statement ,CONSIDERING THEY HAD A 1ST MORTGAGE, NO ARREARS HEAPS OF EQUITY IN THE PROPERTY..... I HAVE NEVER SEEN ANYTHING LIKE THE ACTIONS OF MA MONEY IN MY 40 YEARS OF BEING A FINANCE BROKER...Quote !
