VANCOUVER, Jan. 9, 2013 /CNW/ - TitleGuard Canada is new company
offering a proactive land title monitoring service that will help stop
fraudsters from taking control of property titles, and then using them
to obtain new mortgages or sell the property outright.
TitleGuard is a Vancouver-based corporation, offering subscriptions to a
service which immediately notifies homeowner and/or investors of
attempts to register legal documents at a Land Title office. Owners can
then take steps to block any fraudulent transactions before they are
This service differs from title insurance in that it can prevent fraud
from occurring, while title insurance only compensates for losses after
the fact. Even with title insurance, victims of title and mortgage
fraud are left to expend considerable time and effort in repairing
credit ratings and in restoring the legal title of their property.
Government studies indicate that mortgage-based frauds are responsible
for hundreds of millions of dollars worth of losses in Canada and
billions in the U.S. every year1.
2010 Mortgage Fraud Report Year in Review, U.S. Department of Justice, FBI (2011)
Mortgage Fraud & Organized Crime in Canada, Government of Canada, CISC (2007).
SOURCE: TitleGuard Canada
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