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Thread: Harmoney

  1. #2281
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    Quote Originally Posted by icyfire View Post
    Why would anyone with a freehold home (i.e no mortgage) not borrow against their house from the bank who offer such low-interest rates? Also, what would be the minimum mortgage amount that banks offer?
    Attachment 8905
    A Dreamer? A Liar? A Scammer? Smells damn right Fishy to me!

  2. #2282
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    "Rebuild my home" - perhaps it burnt down and they are waiting on Insurance (or had none!)?

  3. #2283
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    Quote Originally Posted by myles View Post
    "Rebuild my home" - perhaps it burnt down and they are waiting on Insurance (or had none!)?
    Even if that was the case the bank would have still given them a mortgage against the freehold land at 5% instead of 18%

  4. #2284
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    Quote Originally Posted by icyfire View Post
    Even if that was the case the bank would have still given them a mortgage against the freehold land at 5% instead of 18%
    You can't possibly know that...we don't know what other loans/factors might be involved...

  5. #2285
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    Quote Originally Posted by icyfire View Post
    Why would anyone with a freehold home (i.e no mortgage) not borrow against their house from the bank who offer such low-interest rates? Also, what would be the minimum mortgage amount that banks offer?
    Attachment 8905
    Privacy, psychological security, transaction costs (if they intend to repay quickly).....

  6. #2286
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    Quote Originally Posted by icyfire View Post
    Why would anyone with a freehold home (i.e no mortgage) not borrow against their house from the bank who offer such low-interest rates? Also, what would be the minimum mortgage amount that banks offer?
    Attachment 8905
    Umm read the comments Icyfire purpose of loan is to help save for a deposit on a new house. I don't think they own a house now despite what the loan profile says.

  7. #2287
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    Oh "rebuild" I didn't read carefully enough sorry

  8. #2288
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    When loan info states that a borrower has a mortgage free home, does that mean that the borrower personally owns the home? In other words, that the home is not owned and protected by a family trust.

  9. #2289
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    Quote Originally Posted by Robuste View Post
    Umm read the comments Icyfire purpose of loan is to help save for a deposit on a new house. I don't think they own a house now despite what the loan profile says.
    The loan info clearly stated, "Fully Owned - No Mortgage". That can only mean that the borrower owns a mortgage-free house.

  10. #2290
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    Quote Originally Posted by Bjauck View Post
    When loan info states that a borrower has a mortgage free home, does that mean that the borrower personally owns the home? In other words, that the home is not owned and protected by a family trust.
    Harmoney is not in a position to know, unless there is an independent trustee registered on the title, which isn't necessary although common for trusts established by lawyers. If the borrowers are also the trustees then as trustees they would be committing fraud by not disclosing the existence of the trust and on that basis the trust might be liable for the trustees fraud - but Harmoney seems not to have the processes or resources to deal with such issues. So, don't expect recoveries from the house.

  11. #2291
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    Interesting to note the platform RAR for public has been steadily falling last few months. But the wholesale RAR has been stable.

  12. #2292
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    Quote Originally Posted by whitt View Post
    Interesting to note the platform RAR for public has been steadily falling last few months. But the wholesale RAR has been stable.
    Fee changes working their way through?

  13. #2293
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    Quote Originally Posted by permutation View Post
    Judging from your interest v Outstanding Principal you haven't been in very long?.
    You have no Charge-offs yet!
    Good luck with the E Grades.


    good luck with the E's.JPG

  14. #2294
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    Do you need a new car but can't afford it? No problem. Harmoney will give you a loan you don't have to pay back!
    Screenshot_9.jpg
    Attached Images Attached Images

  15. #2295
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    Quote Originally Posted by icyfire View Post
    Do you need a new car but can't afford it? No problem. Harmoney will give you a loan you don't have to pay back!
    Screenshot_9.jpg
    They made some repayment. If all the D5 grade loans at 30.24% were certain to be repaid in full, then no-one would invest in A1-D4 loans. Have the D5 grades underperformed expectations?

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