Most of us think that real estate is the best investment because it can’t be stolen.  Think again.  In the global village we now inhabit and the opportunities afforded us by the super information highway there is nothing that is safe, not your identity and not even the land you stand on.

Robbers are more sophisticated than the bank robbers of yesterday who ran in with stockings over their heads so no one would know who they were.  Today they sit at their computer screen to take advantage of people like you and me.  Information has surpassed money in desirability and that information can make today’s thief very wealthy indeed.  Unfortunately it will be at your expense.

Mortgage fraud in Alberta has increased 180% in the last year.  Just one year! That means that the thief can forge your signature on a mortgage document, draw out the money and leave you holding the proverbial bag. The unfortunate part of this is that you won’t even know it until it’s too late and the worst part is that you can’t do anything about it at that time. The banks will insist that you honour the debt.

To make sure that this is being quashed as much as possible the banks are asking for increased degrees of verification when you apply for a mortgage and they want to see all your lease agreements if you are landlord. To us honest people this is frustrating because we know who we are but if you find yourself getting annoyed just remember that they are doing it on your behalf.  Give them every opportunity to prove who you are and they will be better able to stop the guy with the cyber-stocking over his head from taking advantage of you.

Rhonda Hoffman

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