The Edmonton Real Estate Blog

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Sunday, February 19, 2006

Is it criminal to sell your own home in Edmonton?

No. It is not, but you may unwittingly be part of a growing problem of mortgage fraud, and from the law's point of view ignorance is no excuse. Mortgage fraud in Canada is a problem and Edmonton is estimated to be on the top of the list for violations. You probably know someone who may have committed mortgage fraud. Mortgage fraud is defined as:


“The material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase or insure a mortgage loan.”
- Canadian Institute of Mortgage Brokers and Lenders

Here is a link to a resource for consumers from the Alberta Real Estate Council. It is a tip sheet that can help sellers prevent becoming a victim to this growing and serious problem.

With over 100 years combined real estate in the Edmonton area professionals at Coldwell Banker Johnston will protect you from becoming a victim. Don't let what should be a positive experience turn into a nightmare for you and your family.

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