Canada’s $500M Chinese Real Estate Mortgage FRAUD Exposed!

In this video, we speak about a newly exposed $500M fake income Chinese mortgage fraud in the Toronto area... Enjoy!
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Video Chapters:
0:00 - Intro
1:47 - Part 1
4:19 - Mortgage Fraud Spiking
7:27 - Toronto's Mortgages
8:45 - Fraud Examples
12:00 - Mortgage Approvals
14:25 - Foreign Buyer Ban
#canada #mortgage #fraud
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[@GriffinMilks]

Are you surprised by this news? Leave a comment down below! 📈 🇨🇦 Open a High-Interest Savings Account with NEO & get 4.00% Interest at all times!: bit.ly/neo-hisa 🏘 My Real Estate Investing Course (ON SALE!): www.udemy.com/course/creating-wealth-with-real-estate-investing/?referralCode=22FE3C232997364F732A -Griffin

[@darnellcornelius777]

Someone at the gym literally told me today he used a mortgage agent who used fraud to allow him to be able to requalify for his mortgage renewal, fraud is very prevalent in the GTA and more so in Brampton.

[@Cabiofampos]

Almost as bad as people getting primary residence mortgages only to rent the house without ever having lived there...

[@GriffinMilks]

Definitely worse imo

[@cclcanadiancountrylife3628]

Guddam! I’m heading over to HSBC Aurora to get a mortgage. I make roughly 100,000 yr, have 1 mortgage, bought my house for 121,000. Called up my bank to get a second mortgage to buy a rental property they were like we can only approve you for a mortgage for $160,000. Guddam! Man that’ll buy the doors & windows. Cheapest house in the city is 500K

[@GriffinMilks]

Let me know how it goes haha

[@cclcanadiancountrylife3628]

@@GriffinMilks ended up calling up burk financial. Seen their add on a fb add, never thought I’d go private. Always dealt with the big banks, rbc/td/simplii/cibc.

[@user-zb1ri9fn3n]

Canadian land grab. A foriegn economic entity owns Canadian land equity. If they foreclosure, bank owns the land and can fire sale our land to China. BMO sold a skyscraper in New York for $1 last week.... Could whole blocks of residential properties and business, business intellectual interests, get sold for pennies on the dollar? Not only own the house, but land it sits on.

[@rcbrascan]

Mortgage fraud is more like someone who doesn't own the property and was able to take out a mortgage on it which is not the case with the aforementioned HSBC case as the properties are properly titled and mortgage payments have been made without any delinquencies or defaults. HSBC has not incurred any losses on these mortgages and no reporting to law enforcement was made. If someone has other assets aside from employment income that can service the mortgage then there is no cause of concern. Mainstream media did not pick up on this questionable story.

[@kyungshim6483]

Griffin, although $500M worth of mortgages may constitute a very small proportion of all outstanding mortgage loans, a better metric to look at to assess the impact on house prices is the proportion of total sales in the housing market these loans generated when the loans were originated.

[@GriffinMilks]

That could definitely be a metric worth looking into for sure, as during that specific period, it probably had a much larger impact on total relative sales. Thanks for wathcing and commenting!

[@ronguzak4153]

Isn’t HSBC a Bank of Hong Kong?

[@griffinmilksenfrancais]

Crazy! 😢

[@GriffinMilks]

:)

[@-vv3rv]

How do most of you guys, still make profits after retirement? Even sustaining your wealth and increasing life standards

[@ReedMyresDavid]

Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager,

[@ReedMyresDavid]

Mrs Nancy Williams Laplace

[@KN0852]

This is correct, Nancy Williams strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started.

[@ann-ie4hc]

The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

[@-vv3rv]

Please how can I reach her?

[@user-zb1ri9fn3n]

It's ok for China to do this in B.C., but resist indigenous financing. At least Native Americans are Canadian and will keep equity in Canada. Land claims keep B.C. land, in Canadian hands. You know how hard, stubborn and focused they are on resisting development by multinationals and foriegn countries. On native land, you will never pay rent to Bill Gates, China or Facebook.

[@Jim58223]

HSBC what do you expect.

[@Dermisc]

Yep, shitty British banks.

[@GriffinMilks]

Still though, operates in Canada. Should have standards

[@Jim58223]

@@GriffinMilks They're notorious for doing stuff like this, ccp backed corrupt bank.

[@rochester3]

Too much money was pumped into the economy

[@GriffinMilks]

That's for sure, during pandemic

[@rochester3]

@@GriffinMilks when i do deliveries i always wonder how so many chinese and asian people get all the money to buy condos and they're driving top end luxury cars lol

[@billferguson1368]

Who says? Sam Cooper and an anonymous "source" full of "allegations"?

[@dontbefooledbyjumla7869]

Sorry to say chinese, Refugees from middle east, Punjabi networks are best in Canada for many illegal ways.

[@GriffinMilks]

Thanks for watching!

[@GarrytheExplorer]

lol chinese 😆😆😆😆😆😆

[@GriffinMilks]

Prety crazy story!

[@kyungshim6483]

China again.

[@GriffinMilks]

🤷‍♂️