"Section 9.0 Default You are in default of under the Contract if any of the following conditions apply; ... c) Value or title unsatisfactory : We are reasonable satisfied with the value of/or title to the security property or the security over it will be inadequate security for our Loan in accordance with our usual prudent credit standards."
Could then this apply:
Flooded properties in Brisbane will fall in value. Therefore the CBA guidelines could mean that thousands of property owners are in default?
