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Police warning homeowners of a new scam

By CJ Goater Feb 23, 2024 | 4:09 PM

TBPS Cruiser - Acadia Broadcasting File Photo

The Thunder Bay Police Service is reminding community members, especially seniors, to be mindful of a possible scam targeting vulnerable homeowners.

The scam features individuals portraying themselves as door-to-door salespeople initially offering to install equipment or to conduct renovations, with the homeowners asked to sign long-term contracts.

The contracts could result in liens being filed on the home.

The homeowners are then approached with an offer to consolidate the debt, using the home as collateral, and are then pressured or tricked into signing high-interest mortgages with rates up to 25 per cent.

Police have learned that two homeowners in Thunder Bay may have already been affected by this scam.

The high rate of mortgages can jeopardize the victims’ ownership of their homes, especially for people with low or fixed incomes.

The Thunder Bay Police Service’s Economic Crime Unit is urging family members and friends to speak to those who may be vulnerable to being targeted by this type of scam.

For further information about various frauds and scams that may be circulating, please visit the Canadian Anti-Fraud Centre online here.