Protect Your Property: Uncovering the Rising Threat of Mortgage and Title Fraud in Ontario and British Columbia
Watch out, homeowners!
Investigators and official warnings suggest that at least 32 properties in Ontario and British Columbia have been targeted by mortgage and title fraudsters who pose as homeowners or renters. Title and mortgage fraud typically involve homes with low or no mortgages. They include six instances of "total title fraud" in which con artists pose as homeowners to list properties for sale. "Actors" are paid up to $10,000 to put the property on the market and seek a quick sale. In one case, a home valued at $2.2 million was sold for $1.7 million within two weeks.
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