Mortgage broker scams canada
The unsuspecting homeowner only discovered a mortgage had been fraudulently registered on their home when they received mortgage documents in the mail. This is not a new scam. This one was huge. Most are not this big or elaborate. Reports have surfaced about a Property Manager that allegedly obtained fraudulent mortgage funds on behalf of 1, unsuspecting condo owners.
The Star reports that Khan falsified a series of legal papers to obtain the loans fraudulently. In another situation related to the same property management company, it is alleged that Khan siphoned off some money through construction fraud.
Apparently, he tendered a bid for some construction work on one of the buildings he was managing through Canali Engineering, a company he created.
They say fraudsters cannot be stopped, only discouraged through regulations and laws. Clearly, some more regulations need to be put in place. McCabe is calling on the government to enforce licensing or regulation. Channel Property Management manages upwards of 40 buildings…. Does this sound like someone you know?
You sell your home but discover mortgage broker scams canada someone has registered a mortgage on your house without you knowing it. I mortgage broker scams canada that back in Since then we have seen some provincial governments step in with laws to protect unsuspecting homeowners….
You can also purchase Title insurance to protect you as well. But once you have been victimized by the crooks, you still need to make a mortgage broker scams canada and go through the hassle of clearing things up…. Who wants to go through making a claim? This takes time and can be a big paid in the rear. What if there was a way to make yourself less of a target? The good news is there is a better way to protect yourself….
The criminals go after homes that have no mortgage. Anyone can find out if you have a mortgage just by going to the Land Registry Office and doing a search. So what should you do? The solution is to register a mortgage on your home. By getting a secured line of credit you will have a collateral mortgage registered. And they will probably go searching for the next home that has no mortgage.
What makes this product unique is that it is available to both salaried and self-employed individuals that cannot prove their income. Let me know mortgage broker scams canada you would like more details about this. Mortgage broker scams canada before you read any further, just make sure you mortgage broker scams canada something… during an economic downturn, we will hear and see more crime related reports…. Then how do we know fraud is a problem??
These banks have doubled and tripled their commissioned sales force in the past few years…. During the last big recession inthere were numerous reports about mortgage fraud. I have a suggestion.
Maybe the Banks should start to look within and see how they compensate their staff…. Credit cards, loans, lines mortgage broker scams canada credit, bank accounts and mortgages.
Every time the Banker sells one of these products they are compensated according to the sale…. These regulations carry severe penalties for fraud…. Skip to content Posted December 19, Money saving tips.
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