You worked hard, raised your family. Purchased your home or two, maybe a vacation property as well. At times you were able to pinch your pennies and were well organized to put aside the money you needed for some or all the above. How did that work?

For many years, the world has been telling you to

• Buy your home (Property – Land)
• Pay off your mortgage
• Save for your retirement

For some it went well, and I hope that it has. Now how to protect it for your future and family legacy. You tried your hardest and now you want to protect your investment(s). How can you do that?

Unfortunately, there are thieves who want to defraud you and steal your money.

Did you know that if you have nothing attached to your property you become an easy target to for thieves. These unethical and immoral people would set up mortgage(s) or loan(s) and attach them to your property without a second thought. They could then illegally obtain your money by taking it from the equity of your house. This home you worked your lifetime for, without you knowing until it is too late. This is not to meant to scare you. It is only meant to education you so you can understand the negative situation that is happening today and then with that knowledge you will be able to do something to prevent those thieves on your or love ones property.

Here are some things that that you may or may not already have that could help you to protect your home investment(s).

1. Title insurance*
2. Secured line of Credit*
3. Home Line of Credit*

4. Equifax Alerts / Trans union Alerts

Nothing is foolproof but some of these things might help.

Items 1 - 3 above would potentially offer better protection for you and your home investment but you would need to spend some money. A Real Estate Lawyer would work on your behalf to attached “legal” things to the title of your property that would offer those protections. In most cases a few thousand dollars invested would be able to protect your home from Fraudulent people trying to obtain money for your assets. If you own your home free and clear and owe nothing on your home. Say today it is worth $800,000, they (bad people) could take off with potentially in the worst-case scenario 90% of your home value and you would be held responsible.

The 4^th item Equifax Alerts / Trans union Alerts (I Believe) is free of charge. There is an option for free for you to put an alert on your credit. That alert notification would ask any lender to call your phone number if anyone is trying to obtain credit on your behalf. It is not enforced but might be helpful for you as some lenders will take the time and the step to call. As well you as a credit holder in Canada, are encouraged to reach out to Equifax and get copies of your credit reports. That information will help you to track your credit payment and usage information. When you track your credit information then you will be more likely to see something unusual on your credit report sooner. Stay informed and protect your assets.

I don’t know all the answers but understand that when you have a mortgage or Line of Credit Product attached to your home’s title, you can help to protect that property better. I hope that this information will help you to take steps to help protect your home investments for the future retirement or family legacy.

Call me today to ask any question. Together we can find the best solution for you.

Melinda Baker       Mortgage Agent M21000893       Verico The Mortgage Station 11707

Phone: 705-220-1608      melinda@themortgagestation.ca       mortgageweb.ca/melindabaker