How to Avoid Mortgage Fraud

mortgage fraud

Podcast Episode 97:
“Mortgage Fraud.

The simplest way to avoid committing mortgage fraud is to fully disclose everything about a deal to your lender. If they are satisfied, then you’re probably okay. But what happens if someone else is defrauding you? In Tales from the Trenches, you usually hear second-hand accounts of the trials, tribulations, and successes of Canadian real estate investors. In this Tale, you’ll hear it from the “horse’s mouth.” Special guest Valden Palm tells us how he narrowly avoided getting sucked into a mortgage scam. An unscrupulous guy in Edmonton was buying houses, doing shoddy renovations, and then flipping them between shell companies to get more and more money in refinanced mortgages. Lucky for Valden, due diligence and a gut feeling saved his bacon!

 

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If you’re buying or selling real estate in Alberta, you need a lawyer.
Use the form below to contact Barry now!

“Mortgage Fraud” image courtesy of  www.cafecredit.com used under CC Attribution 2.0 Generic.

Why Does my Real Estate Lawyer Need my ID?

Focus on Real Estate: Quick Tips.

In the last video, identification was mentioned as one of the things to bring to your lawyer’s office when closing a real estate deal in Alberta. Why is that? Doesn’t your lawyer already know who you are? Basically, new rules are in place for documenting big transactions like buying or selling real estate because of increased concerns about money laundering and terrorism. In this video, Barry explains the details so you’ll remember to bring your ID! Choose Edmonton’s RMLO Law LLP for flat-rate legal fees on basic real estate deals. Get in touch now for a no-obligation consultation!

This is the next instalment of Focus on Real Estate with Barry C. McGuire, a series of videos covering quick tips on the legal side of buying and selling real estate in Alberta.

If you’re going to buy or sell real estate in Alberta, you need a trustworthy veteran lawyer. Contact Barry using the form below.

Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.