Nurse's $3 million in loans raises questions

A 71-year-old nurse was given $3 million in loans. How?

I'm all for having criteria to protect people from being preyed upon by unscrupulous banks, brokers and developers etc.

But really, this woman aint no lamb that being thrown to the wolves. At age 67 she seems to have had 14 properties and have almost 4 times the average super balance (based on age and gender).

Then in the past 4 years she has made some bad decisions involving her super and another 2 million dollars of loans.

Yes, the banks might have been a bit dodgy in overestimating her ability to service the loans. But that's exactly what she would have wanted.

 

Did she invest in remote WA/?

 

"It all seemed possible during WA's mining boom years"

I'd feel sorry for her if there were developers or sprukers that were presented her with misleading business cases that consequently led her to invest in mining towns. The article doesn't mention that. That's not to say it didn't happen, just the article is only focused on banks.

 

Wonder what if those areas doubled in value.

 

My Mistake, seems someone else created the same thread one minute before I did
7:30 Report - 71 YO Nurse with 11 WA Investment Properties on IO