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DP O’Keefe Macquarie Law is a legal office in Dubbo NSW Australia.

Dan O’Keefe is an experienced solicitor, accredited business law specialist, mediator and notary public.

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Home ATMReverse mortgage issues in times of low interest rates

In times of low interest rates you would think low interest rates were good for reverse mortgages. Noel Whittaker explains reverse mortgages as:

"... the homeowner borrows a fixed sum and makes no repayments of principal or interest. The downside is that when compounding kicks in, the debt grows at a faster and faster rate."

He pointed out in a recent article in the Sydney Morning Herald that there is a flaw in reverse mortgages in times of low interest rates. Some lenders have fixed the interest rate on the reverse mortgage so it is more expensive to get out of those older loans now.

(Releasing home equity a financial health hazard by Noel Whittaker SMH Money 11 December 2019)

Bullying came back to haunt employer 15 years laterMental health image

The reperucussions of bullying cannot be overstated.

Recently a 52 year old man suffering from a range of psychiatric conditions including PTSD and depression successfully sued his employer. He claimed that his condition was materially caused by the bullying and harassment he experienced at the hands of his manager when he was employed between 2003 and 2004.

The plaintiff sought common law damages, as limited by the Workers Compensation Act 1987 (NSW). In particular, he claimed damages for past lost wages and for the future earnings up to the date on which he would have been entitled to retire, namely 20 February 2034. He was awarded $1,394,421.91 plus interest and costs.

(Ward v Allianz Australia Services Pty Ltd [2019] NSWDC 293)

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Stay Smart Online provides simple, easy to understand advice on how to protect yourself online, as well as up-to-date information on the latest online threats and how to respond.

(Stay Smart Online site)

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