The Australian Securities and Investments Commission says homeowners under serious financial strain are making poor financial decisions .. as they try to hold on to their properties.

An ASIC report .. Protecting Wealth in the Family Home .. examines the risks for homeowners of inappropriate refinancing in response to mortgage stress.

ASIC says some borrowers are so intent on saving the family home .. they’re placing themselves in a vulnerable position where they’re prepared to accept almost any solution.

Homeowners are encouraged to try to get relief from their existing lender or find a new .. more appropriate loan .. and even consider making the tough decision to sell up.

AAP