19% mortgage fraud rate?

Bullwhip29 shared this story claiming 1 in 5 millennials commit mortgage fraud:

Around one in five (19 per cent) of Millennial home buyers responding to the survey admitted to inflating their annual income on their mortgage application. And nearly 23 per cent of Millennial home buyers said they think this is an acceptable course of action in today’s mortgage climate — nearly double the 12 per cent of all respondents who agreed this was OK.

Read the full article here.

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paulb
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bullwhip29
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bullwhip29
Shit It Down Already (original)
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Shit It Down Already (original)

There is no bigger fraud/scam artist/shyster on Richmond Council than Harold Steves….

He claims he has Scottish blood..lollololol …when in fact his family has Germanic roots…aka “Steib “was the original family name.

Somehow the ALR GODFATHER’s 150 year old family farm was never included in the ALR…..given he was an NDP MLA at the time of the ALR’s creation under the Barrett Gov’t.

….His bogus farm pays about $500 per year in taxes..based on farm assessment criteria ……yet is worth millions asap once they choose to develop…ie under normal BC assessment of” higher and best use” he should be paying $40,000 + per year

…..
F*CKING HYPOCRITE ..like majority of Libtards

bullwhip29
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bullwhip29

There is debate over whether anti-government protests in Hong Kong will lead to an exodus of its residents, but Vancouver developers are piling into the Chinese territory to offer Canadian condos to anyone planning an exit
https://biv.com/article/2019/09/vancouver-condo-developers-head-hong-kong

Bag it and tag it
Member
Bag it and tag it

One thing to take into account is that most of the HK folks that got a Canadian citizenship back in the 90s are likely really really old now and are more likely to say fuk it and just ride it out over there now. Any that are not Canadian citizens likely have zero interest in paying 20% tax to buy in an inflated, crashing market.

Laibach
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Laibach

Right, there is no enough Chinese here so good to bring more of them anyway.

xhistory
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xhistory

https://www.sott.net/article/420578-Jordan-Peterson-film-cancelled-in-Canadian-movie-theatre

Read the comment regarding the control of the masses through control of MEDIA

Bag it and tag it
Member
Bag it and tag it

The left hates anything logical that they have no counter argument for.

xhistory
Guest
xhistory

The left is better served abandoning their rhetoric and living in communes. And being a success at it. There’s so much squawking now because the system makes us dependant on govt handout money.

Best place on meth
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Best place on meth

The bankruptcy of sovereign nations is needed to purge us of oppressive, tax grabbing governments and to put an end to freeloading scumbags who expect to be taken care of financially while they spend their time snowboarding rather than working hard.

Looking at you, millennial assholes.

bullwhip29
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bullwhip29

Job-for-cash immigration firm names two Saskatchewan companies as ‘success cases’
https://www.cbc.ca/news/canada/saskatchewan/job-for-cash-immigration-firm-names-two-saskatchewan-companies-1.5279943

Just thinking
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Just thinking

Realtors are already flogging Trudeau’s upgraded FTB mortgage assistance program. Let’s see if the Liberals get re-elected first …

Bubble
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Bubble

Liberal may get a majority government again, now we have Maxime Bernier to split the vote. Just great!

xhistory
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xhistory

liberal win. Idiot box propaganda easily takes it.

Ie

‘Electric cars are contributing to housing affordability. ‘

The method is to establish bias, and confirm it with repeat messages. And of course, $ the pathocrats

squeak
Member
squeak

“And nearly 23 per cent of Millennial home buyers said they think this is an acceptable course of action in today’s mortgage climate.”

Oh, I see. And what else is now acceptable? So fraud is ok? Is claiming bankruptcy ok too? Ok not to pay your taxes and bills? Now, what would Canada look like if we all joined the party? Oh, did I hear 3rd world?
Slippery slope it is.

Those that take part of this behavior are not to call the kettle black as they are contributing to problem.

I\'m thinking
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I\'m thinking

Strange days are ahead

paulb
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asdfas
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asdfas

UCLA mom charged with paying $400K to get son admitted as fake soccer recruit

Xiaoning Sui, 48, is the 35th parent and 52nd defendant charged with crimes in the nation’s college admissions scandal.

https://www.usatoday.com/story/news/nation/2019/09/17/ucla-mom-charged-paying-400-k-get-son-admitted-fake-soccer-recruit/2351878001/

squeak
Member
squeak

Confiscate that money, put it into a fund for intelligent poor struggling students that will be an asset for the country.
1/2 million dollars just to play soccer or pretend that you have? Yes.. confiscate and fine to the hilt. We should encourage more dummy mummys to do this. Look how much good they are doing by being idiots (the money put into funds for poor struggling, but intelligent ambitious students).

Shit It Down Already (original)
Guest
Shit It Down Already (original)

FFS….

$400,000?

either home school or go on line for some diploma mill….given most university degrees are SJW bullshit.

Just thinkin\'
Guest
Just thinkin\'

Where’d she get 400K cash anyways, unless it was HAM ?

southseacompany
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southseacompany

Meanwhile in the UK:
“Help to Buy could hit consumers and the government with ‘significant financial risks’ ” The Telegraph

https://www.telegraph.co.uk/property/uk/help-buy-could-hit-consumers-government-significant-financial/

“Help to Buy has exposed both the government and homebuyers to “significant financial risks”, according to a report by the Public Accounts Committee (PAC). The report also found that it “only benefits those in a position to buy their own house in the first place”. The majority of the £11.7 billion the government lent through the Help to Buy equity loan scheme went to people who could afford to purchase a property without the subsidy, the PAC found.”

Bag it and tag it
Member
Bag it and tag it

I reality, the people it helped were the sellers not the buyers…though I say that knowing absolutely nothing about the program.

Bubble
Guest
Bubble

Luxury condos, a hard sell:
5982 CHANCELLOR MEWS (UBC)
https://realtylink.org/en/townhouse~for-sale~university-vw-vancouver/262421783

2019-Aug-27 Terminated $1,289,000 R2373228
2019-Aug-26 Listed $1,239,000 R2400156
Sutton Group-West Coast Realty
2019-May-21 Listed $1,468,000 R2373228
LeHomes Realty First
2018-Mar-05 Terminated $1,599,000 R2225643
2017-Nov-29 Listed $1,599,000 R2225643
Infinite Real Estate Services
2017-Oct-26 Terminated $1,788,000 R2208632
2017-Sep-22 Listed $1,788,000 R2208632
Infinite Real Estate Services
2017-Apr-13 Terminated $1,380,000 R2137761
2017-Feb-08 Listed $1,380,000 R2137761
Infinite Real Estate Services
2016-Jul-03 Sold $1,182,000 R2076039
2016-Jun-02 Listed $1,238,000 R2076039
WESTSIDE Tom Gradecak Realty

southseacompany
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southseacompany

Post from one of my LinkedIn connections;

“Lead indicators … Vancouver’s Development Permit Board reviews major project applications. Their agenda looks rather empty. ”

July 22, 2019 – Cancelled
August6, 2019 – Cancelled
September 3, 2019 – Cancelled
September 16, 2019 – Cancelled

“When I served on the DPB (1999 -2002) we commonly had 3 to 4 items on the agenda EVERY two weeks.”

Bubble
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Bubble

Maxime Bernier invited to participate in official commission debates
https://www.cbc.ca/news/politics/maxime-bernier-debates-commission-election-1.5285162

Bad for Sheer due to vote-splitting.

southseacompany
Member
southseacompany

“Why playing politics with housing market is a dangerous game”, Financial Post

https://business.financialpost.com/news/economy/why-playing-politics-with-housing-market-is-a-dangerous-game

“Kevin Carmichael: Helping people pile on debt could be our undoing”

Best place on meth
Member
Best place on meth

New Metro Vancouver real estate offer: Buy a townhouse, get a Tesla

https://bc.ctvnews.ca/new-metro-vancouver-real-estate-offer-buy-a-townhouse-get-a-tesla-1.4592813

bullwhip29
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bullwhip29

‘Birth tourism’ rising fast in Canada; up 13 per cent in one year
https://www.ctvnews.ca/health/birth-tourism-rising-fast-in-canada-up-13-per-cent-in-one-year-1.4594970

“It’s going up faster than immigration rates, faster than the overall population of Canada,”

squeak
Member
squeak
“It’s going up faster than immigration rates, faster than the overall population of Canada,” There must be a reason for this, I am sure… gee wonder what it could be, let’s have a multi million dallar study on this, at tax payers expense of course. I think the word “birth tourism” is a euphemized term. Why would any normal woman choose to give birth far away from family support, home country, own culture ( oh wait.. Richmond .. extension of china w/o their human rights issues, etc. ) The only reason to go through child birthing in Canada as a foreigner is to secure a citizenship, then have the option of family reunification, meaning you now can move to Canada, just like that! Easy peasy, lemon squeezy: No actual qualifications needed, except getting pregnant (if that is a skill?) Tourism,… Read more »
I\'m thinking
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I\'m thinking

Vote PPC if you want this crap stopped. They are the only party with the guts to take on the immigrant issues.

Laibach
Member
Laibach

Fucking rats continue to swarm and spread diseases all over the place while destroying Canadian social structure, yet politicians remain silent…

‘Birth tourism’ rising fast in Canada; up 13 per cent in one year

https://beta.ctvnews.ca/national/health/2019/9/16/1_4594970.amp.html

paulb
Member
Screwed
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Screwed

Wondering hows sales/ inventory doing? Rising/ declining?

Archon
Guest
Archon

So how does one so easily overstate income? From my experience, lenders require two prior years of T4’s for income verification.

DaMann
Member
DaMann

I would suspect it comes from the expenses side. You have to declare your monthly outgoings. Could be a s simple as someone not putting on their application that they have to pay $1k a month on child support. Bank would never really know if you do or not. Simply not declaring that outgoing expense changes what you can qualify for. Fraud right there. I’m sure there are a million ways to do so

Archon
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Archon

ie. folks are falsifying their T4s or tax assessments?

bullwhip29
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bullwhip29
bullwhip29
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bullwhip29

Toronto immigration firm, WonHonTa Consulting, charges $170K for fake Canadian job, CBC undercover investigation reveals
https://www.cbc.ca/news/canada/saskatchewan/immigration-jobs-fees-china-canada-1.5272394

bullwhip29
Guest
bullwhip29

A B.C. Supreme Court judge has ruled that an interim freeze of assets in B.C.’s biggest money-laundering case was done improperly, and has ordered the release of $2 million in cash to the accused
https://vancouversun.com/business/local-business/court-ruling-releases-2-million-back-to-accused-in-b-c-s-biggest-money-laundering-case

for more on this story visit: http://www.gov.bc.ca/incompetence