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Buy Lower/Sell Higher www.MoreForMyHouse.com Avoid being a victim of crime

Bill Rinehart, Realtor®/Salesperson HomeLife/Kempenfelt-Kelly Realty Ltd, Broker Local 705.436.5111 Toll-free 1.877.436.5111

Mortgage Fraud and Title Fraud are where identify theft meets the real-estate industry. They are costing the Canadian banking industry billions of dollars every year. Criminals are exploiting innocent buyers and sellers in private real estate transactions. The following is reprinted without permission from "Real Estate Magazine," an industry trade publication.   Nine of ten fraud cases are private sales. Criminals have found a new application for identity theft - real estate title fraud - and the Greater Toronto Area is at the center of this growing criminal activity, according to industry experts at a recent real estate fraud summit in Oakville, Ont. Susan Leslie, VP claims and underwriting for First Canadian Title says "Nine time out of 10, we see fraud cases arising out of private purchase and sale agreements." "In 2000, real estate title fraud accounted for 6% of total claims," says Leslie. "This number grew to 14% in 2002 and 36% last year. Real estate fraud now represents our single largest claims category. We have been forced to understand the warning signs and are working hard to do our part in educating the industry of the dangers."   First Canadian Title says some of the common indicators that serve as warning signs for potential fraudulent activity during a purchase or refinance transaction include: - The transaction is completed without a face-to-face meeting with the client. - Recent activity on the title to the property (e.g. registration of a transfer or mortgage discharge.) - The client(s) will only provide a cellular number for contact purposes. - Inquiries and established credit are inconsistent with age, income or profession. - Direction to pay the funds to an unrelated third party individual. - A counter cheque is presented for deposit or identification, versus a personalized cheque. - The employment information provided cannot be verified. REM. Realtors earn their keep in many ways. Our knowledge of the ever-changing criminal world and it's impact on home-owners is another benefit that we bring to your table.

Bill Rinehart

705 436-5111

Toll Free 1-877-436-5111