5.3.9 Signs of fraud

From: Financial Consumer Agency of Canada

Be suspicious when:

  • You don't receive normal mail notices from your mortgage lender, utilities or tax department.
  • Someone tries to prevent you from reading through a written agreement, or asks you to sign incomplete or blank applications.
  • Someone you don't know contacts you to help with mortgage problems.
  • A real estate professional cannot provide suitable references.
  • Someone encourages you to include false information on your mortgage application. Providing false information to obtain a mortgage loan is illegal.
  • Someone encourages you to apply for a mortgage amount that is significantly higher than the property value or price on the offer to purchase.
  • Someone tells you not to check with your own lawyer or real estate professional for legal advice.
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