auction results too scary to publish, page-33

I just realised that for the first time in my life i personally know of three cases where people have got into mortgage difficulty. While it does not prove that the market is in decline it does make you wonder .

Case 1 I saw this coming they bought a beachside shack knocked it down built a mansion with everything that opens and closes and then couldnt keep up the payments Have now sold are renting and looking for a modest place

case 2 They managed to be mortgage free by their mid 40s through very good use of buying land selling part of it and building on part The house is located withing in five minutes drive of the ocean . They then borrowed against it to start a business the business has now gone and they are living with her parents

case 3 They had a modest home 5 minutes walk from lake macqauarie for years thay have continually redrawn money to fund trips to Bali etc now are struggling to meet payments