How Does Money Lending Interest Work - Retirees up north feel Sydney's mortgage pain - Sydney Morning Herald
Many trusted their savings to a small, unrated mortgage business. ROLLING over a $135,000 investment with Donovan Oates Hannaford Mortgage Corporation last November seemed a good idea to Port Macquarie retirees Joan and Mick Campbell. The Campbells chose to put their money with Donovan because they trusted the name of the local business, viewing it as a conservative option. Ominous signs included growing exposure to risky assets, declining levels of equity, and losses - but most investors were unaware of these. All up, the company made a $4. Its website links directly to the mortgage business, and lists the same address for both businesses. Learn more
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