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    Our Mailing Address:
    Rainbow Investigations
    513-18th Avenue SW
    Calgary, Alberta
    T2S 0C6


    Better Business Bureau of Southern Alberta

    Calgary Mortgage Fraud Scene - 2012 Report

    It has been awhile since we reported on this situation, so let’s get caught up.

    First, is mortgage fraud still out there in the Calgary marketplace?  Unfortunately it is!

    Please be wary of ads on Kijiji and other free advertising sites.   Always remember ads that say “No down payment” or “No qualifying” are major red flags.  No qualifying, almost always means “they”, the organizers, have qualified for you, and often it has seriously embellished and fraudulent information.  This can catch up to you, if you get involved in something like this.

    Secondly, anything happening in the criminal prosecution of mortgage in Calgary, and for that matter Alberta?  Glad you asked!  As a matter of fact there is a trial right now in Red Deer going on, and once we have the outcome of that, we will report it right to you.  A preliminary hearing will be taking place in Calgary on another matter in February 2012, and another trial in Lethbridge is scheduled for April 2012.  There is much more criminal interest now in mortgage fraud – that is all we can say.

    Thirdly, what is happening with the civil process on mortgage fraud?  On the big matters, B of M and RBC (Levy) we are not hearing much, accept that some of the lesser players are being pushed aside.  However, these files are being kept very quiet right now.  Still lots of foreclosures happening due to mortgage fraud.

    In terms of our files, some have moved on to lawyers, and on many we have had great success stories.  Many are still a work in process.  We have six civil judgments now on fraudsters, and on other cases, we have been able to get our clients out completely from the foreclosure process.  Some files are stressful, and we won’t be dishonest, there has been the odd disappointment, although these are the exceptions for sure.

    But overall, we hang our heads high in what we have accomplished here.

    We have recently updated our mortgage fraud services section, http://www.rainbowinvestigations.com/investigative/mortgage_investigations.php, and we have now included testimonials from some of our satisfied clients.

    Date of Story: Monday, January 30, 2012
    Story Posted By: Ron Reinhold
    Source: Ron Reinhold

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