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Eelogical

Referee
Messages
24,925
Yeah they don’t want to do work either.

I can’t see us giving up now but now Lomax has to pay lawyers and do some work, I think there’s a good chance he may ask if he just goes to Japanese rugby for 3 years that we pull case
Maybe the Storm have a spare boat lying around to cover his expenses.
 

Grigor

Juniors
Messages
282
So Zac asks for a release sometime in July , r360 never spoke to him or his manager , we grant him said release and he goes and spends $4 million on a property without an income and one would guess a sizeable mortgage, we offer him assistance at 15 nrl clubs to get a contract yet knocks us back , as someone who is highly cynical I think he believed he had a contract elsewhere a long time before being granted a release from the eels and it wasn't r360
 

Eelementary

Post Whore
Messages
58,311
There's a kernel of truth in that.

My mum was caught driving while intoxicated. She was 8 times over the legal limit, and had a minor accident with another motorist - nobody was injured.

The police were called, she was breath-tested, and charged. First offence, so she was out on bail.

Her time in court came, and her solicitor managed to argue her sentence down from a fine, and loss of licence for 24 months, to community service, a loss of licence for 12 months, and a good behaviour bond.

I was absolutely flabbergasted.

I should probably add that I didn't hate my mum, or anything like that - I just strongly believe in justice, and was shocked she got off so lightly.
 

Noise

Coach
Messages
18,972
So Zac asks for a release sometime in July , r360 never spoke to him or his manager , we grant him said release and he goes and spends $4 million on a property without an income and one would guess a sizeable mortgage, we offer him assistance at 15 nrl clubs to get a contract yet knocks us back , as someone who is highly cynical I think he believed he had a contract elsewhere a long time before being granted a release from the eels and it wasn't r360
July??
 

Soto

First Grade
Messages
5,456
Lomax wouldnt have been able to get a home loan of any amount if he wasn't able to supply current payslips/playing contract. Therefore when he did purchase he wouldve still been employed by the Eels.
Whoever the lender is would be very nervous now as they would've approved him with x amount on the parra contract.
Now that his circumstances have changed and he may be getting less or substantially less there will be causes for concern.
Saying all that the banks stress test the assessment rate when provide the funds by an additional 3%.
Simply if his interest rate was 5.5% his application wouldve been assessed at 8.5%.
Hence stress tested for example at 8.5% on eg $650k income.
In my experience if he purchased a property for $4m and he didn't have a sizeable deposit then $650k income isn't enough to be approved for that amount...
He may have unencumbered properties (rental) or other income eg from Puma and any other sponsors to supplement his income
 

Tiger5150

First Grade
Messages
5,257
Lomax wouldnt have been able to get a home loan of any amount if he wasn't able to supply current payslips/playing contract. Therefore when he did purchase he wouldve still been employed by the Eels.
Whoever the lender is would be very nervous now as they would've approved him with x amount on the parra contract.
Why? They might have just acquired a $4M property at 80% market value.
 

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