To compound this problem, mall
owners are now starting to mail in the keys to financially troubled malls: More mall landlords are choosing to walk away from struggling
properties, leaving creditors in the lurch and
posing a threat to the values of nearby real estate... [
as] some of the largest U.S. landlords are calculating it is more advantageous to hand over ownership to lenders than to attempt to restructure debts on
properties with darkening outlooks (LINK).
-- A Surrey, B.C. woman pleaded guilty to mortgage fraud last year after
posing as the
owner of a lot and taking out a $ 170,000 mortgage on the
property.