Mystified by my fellow Canadians
posted February 26th, 2023 at 9:28 AM
How can the morality of the country have changed so radically. I do not understand it. So many people think that fraud is all right? It was reported in a story published on the CTV News website on February 24, 2023: "Nearly half of Canadians say they think mortgage fraud is common in Canada, while a sizeable portion think it’s acceptable to inflate income or misrepresent your employment to secure a mortgage. Those were the findings of the latest BNN Bloomberg and RATESDOTCA survey, conducted by Leger. The survey was sent out to respondents in mid-February, and surveyed 1,521 Canadian over the age of 18. Mortgage fraud can take several forms — this includes falsifying income, lying about a part-time or contract role, being full time or misrepresenting the source of your down payment, among other lies or omissions. The survey found that while 70 per cent of Canadians say artificially inflating one’s income on a mortgage is never acceptable, 17 per cent of respondents said it is".
5 CommentsPost a Comment
A friend who left
Feb 27, 2023 at 4:02pm
This is because banks are big predators in Canada and there is no flexibility in canadian mortgage products and the tax system unlike the US does not help home ownership Mortgage interest in US is a wonderful tax deduction. Vancouver and Canada want the average Canadian beholden to private equity reits and impossible for an honest hard worker to qualify. I left. Phew. Buying in California. Cheaper.
It wouldn't happen if
Feb 27, 2023 at 4:42pm
If it weren't so damned difficult to get a mortgage my bet is there would be less 'fraud'.
Gee, I can’t imagine why
Feb 27, 2023 at 7:42pm
It doesn’t take a genius to figure this out. The “middle class” barely exists anymore. People are forced into this type of behaviour because they’re desperate! The cost of living in this country has skyrocketed in the past 20 years, with no signs that it’s going to improve. So people who wouldn’t ever have considered doing that in the past, now feel like they have no choice if they want to get even a slim chance of having a home.
Feb 27, 2023 at 8:59pm
Will deal with that!
It doesn't matter
Feb 28, 2023 at 3:32am
How they get the mortgage they still have to make the payments and then do the wo is me shit which I have a chuckle at and then offer 40 percent below asking to take it off their hands!
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