Hi fizban.

I've never heard of that happening here where the client has discharged the previously calculated equity amount.

Neither have I but it just occurred to me.
As long as you're paying your mortgage and the market doesn't crash, then at the end of any extended period you'd have equity in your bricks and mortar.

And as long as you've completed your responsibilities to the trust deed, that will probably be a very good thing fizban!

That's what got me thinking about extended TD's. Just how often and how long they could in theory be extended for.

I can't imagine that the process you describe would ever happen, fizban. Trust Deeds are about striking a reasonable compromise between debtor and creditors, not about trying to catch people out and extend the terms without good reason.

It is worth noting that the legislative changes at the end of last year tightened up on equity agreements considerably anyway. The exact equity position must be ascertained in advance for all Trust Deeds signed since December last year and there has to be a signed agreement between the trustee and the debtor setting out exactly how much is to be paid and by when in respect of equity. As long as the payments are made as agreed then the trustee cannot move the goalposts.

Sorry for the late response Kevin.
That's what I thought.

Thanks