
Gotta love the media, so rarely do they print good news, it's something of a sensation when they do.
While some may not consider it good news, I do: "Downturn helps unmask mortgage fraud in Alberta" is one of the headlines in the Herald today.
The article rightfully discusses how scam artists use straw buyers to buy properties to obtain mortgages, then resell the place at inflated prices, or take the money and leave the straw buyer on the hook.
However, the article fails to mention that a real estate agent can help avoid these kinds of problems. A good real estate agent will put you in contact with several different mortgage brokers, home inspectors, and provide you with a property history, so you can see how often the house has been bought, sold, or just listed for sale. As always, it pays to use a professional.
