Protecting Your Home from Title and Mortgage Fraud

Receiving a letter from a bank claiming that you are in default on a mortgage you never took out or have worked so hard to finally payoff is a nightmare scenario that no one should be in. Unfortunately, this is a rising problem in Canada. Title and mortgage fraud are growing concerns, with fraudsters exploiting vulnerabilities in the real estate system.

Understanding the Threat:

Title fraud involves fraudulent changes to property ownership. With forged documents the home could be sold or refinanced. Mortgage fraud sees criminals obtaining mortgages with fake documents and under false pretenses. Vulnerable targets include newcomers facing language barriers and seniors with mortgage-free homes.

Taking Proactive Measures

Homeowners can protect themselves by obtaining title insurance, which serves as a financial safety net in case of fraud. Remaining vigilant for red flags and embracing digital identity verification tools are also crucial steps.

Conclusion: Safeguarding Your Home and Identity

In conclusion, homeowners must be vigilant against title and mortgage fraud. By obtaining title insurance, staying alert for red flags, and embracing technological solutions such as checking credit often will protect homeowners & their assets.

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About Atrina Kouroshnia

Atrina Kouroshnia is an independent, licensed, mortgage broker in the province of British Columbia. She has a degree in Human Relations & Commerce, and past work experiences in HR & Real Estate Development. She comes to the table with great customer service and problem-solving skills. Her approach to finding the best mortgage solution involves both short and long-term planning, making sure her clients are in a suitable mortgage that is flexible to their needs.