Mortgage Fraud (Part 2)

mortgage fraud

Holy Fraudsters, Batman!

Tales From The Trenches™ are real life stories from homeowners and investors just like you. In my last post, Tales talked about mortgage and real estate fraud. There is just no end to fraudster’s tricks. Courtesy of a news bulletin from the Law Society of Alberta, here are some other examples of fraud. Keep your eyes wide open!

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Mortgage Fraud (Part 1)

mortgage fraud

Mortgage Scam:
An Alberta Classic.

Alberta is viewed as the mortgage fraud capital of Canada. We’ve all seen the media stories of massive mortgage fraud involving millions of dollars. Those are just the ones that get reported. Even amongst seasoned investors and after many warnings, mortgage fraud keeps raising its ugly head!

The Law Society of Alberta is extremely concerned about mortgage fraud; they are constantly on real estate lawyers advising them to watch out for fraud. In this article, we’ll look at what the Law Society has to say on their website about the various kinds of fraud. Then, in Part 2, we will apply those comments to your real estate business. Continue reading

Tax Charity Scam

Podcast Episode 14: “Tax Charity Scam.”

Fighting with tenants over small amounts of rent or security deposits is almost never worth it. Unhappy tenants can falsely report you to the Canada Revenue Agency (CRA) and trigger audits. Tax schemes that promise deductions much larger than a charitable donation are almost always found to be shams and disallowed by the CRA. You will almost certainly lose your deduction and the charitable donation itself along with spending huge amounts of money on legal and accounting fees.

Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.

The full-text version of this Tale from the Trenches can be found HERE.

Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.

Tax Charity Scam (Handout)

Text Notes for Podcast Episode 14: “Tax Charity Scam.”

Fighting with tenants over small amounts of rent or security deposits is almost never worth it. Unhappy tenants can falsely report you to the Canada Revenue Agency (CRA) and trigger audits. Tax schemes that promise deductions much larger than a charitable donation are almost always found to be shams and disallowed by the CRA. You will almost certainly lose your deduction and the charitable donation itself along with spending huge amounts of money on legal and accounting fees.

Download the handout (Mac control + click + “save as” / PC right click + “save as”) HERE. Continue reading