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The-Mortgage-Gal
Real estate title fraud is on the rise.  Laurie Baird shares some tips for protecting your investment. (Photo: Contributed)
Real estate title fraud is on the rise. Laurie Baird shares some tips for protecting your investment. (Photo: Contributed)

Protect against mortgage fraud

by - Story: 39802


A home is the single largest purchase that most Canadians will make in their lifetime, yet many homeowners are unaware of the dangers posed by identity thieves when it comes to their investment.

Unfortunately, real estate title fraud is on the rise. According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), real estate industry insiders now peg the average case of real estate fraud at $300,000. In comparison, the RCMP estimates the average credit card fraud case in Canada to be $1,200.

Protect your self and your investment with these tips:

  • Check your credit reports, financial and bank statements regularly for inconsistencies, unknown charges and unauthorized credit inquiries.
  • Don’t give out personal information in person, over the phone or on the Internet unless you know who you are dealing with, how it will be used and if it will be shared.
  • Protect your mail, be alert to billing cycles and when bills or mail haven’t arrived.
  • Shred any documents or materials with personal or financial information prior to discarding them.
  • Seek advice from a real estate expert who is accredited and licensed in your area when shopping for a home.
  • Speak to a mortgage broker about how title insurance can help protect both the financial and emotional investment in your home.


  • More The Mortgage Gal articles

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    About the Author

    Tracy Head and Laurie Baird help busy families find mortgage solutions. Together they have more than 45 years of experience in the mortgage industry.

    With today’s increasingly complicated mortgage rules, Tracy and Laurie spend time getting to know the people they work with and help them to better understand the mortgage process. They support their clients before, during, and after their mortgage is in place.

    Tracy and Laurie work closely with their clients, offering advice and options. With access to more than 40 different lenders, Tracy and Laurie are able to assist with residential, commercial, and reverse mortgages in order to match the needs of their clients with the right mortgage package.

    They work closely with their clients to find the right fit, and are around to provide support for years down the road!

    Contact them at 250-862-1806 or visit http://www.okanaganmortgages.com

    Visit their blog at https://www.okanaganmortgages.com/blog

     



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    The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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