The Edmonton Real Estate Blog

Please visit our new location for new posts.

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.


Post a Comment

Links to this post:

Create a Link

<< Home