Mortgage Fraud Defense
The Samuelson Law Firm Provides The Help You Need
According to the
FBI, mortgage fraud is on the rise in our country and are readily adapting
to economic changes and modifications in lending practices. The FBI has
also flagged both licensed/registered and non-licensed/registered mortgage
brokers, appraisers, lenders, underwriters, accountants, land developers,
investors, builders and others as the most likely to commit mortgage fraud.
Mortgage fraud occurs when conscious and deliberate misstatements are
placed on mortgage documents.
If you have been charged with mortgage fraud, you need to get the help
of a criminal defense lawyer to get high-quality defense in this serious
white collar crime allegation. Even though the total dollar losses from mortgage fraud are
unknown, the government is taking drastic measures to hunt down suspects.
Fight back as soon as possible with a Colorado Springs
criminal defense attorney from The Samuelson Law Firm.
What Is Mortgage Fraud?
Mortgage fraud generally occurs in two separate ways. Someone may attempt
provide specific information in order to apply for a loan they are otherwise
unable to obtain or when someone misrepresents facts in order to extract
money from a transaction.
Common types of mortgage fraud includes:
- Submitting forged paystubs in order to obtain a loan
- Loan application is made in the name of someone besides the home buyer
- Stolen identity is used in order to obtain a mortgage
- Home appraiser increases the value of the home greater than its actual worth
- Home is purchased, appraised at a falsely higher value, and then resold
- A smaller, second loan is taken out on the home without the first lender's knowledge
- Home is purchased in another person's name, who hands it over to another
person who then rents the property without making payments.
If you are facing mortgage fraud charges for any of these activities, you
need an attorney who knows his stuff and can find holes in the prosecution's
case. These cases are all the more serious because you have likely been
investigated by a professional investigator, possibly from a state or
even federal agency. You need professional representation that will know
how to challenge the allegations that are made. Any white collar fraud
crime is serious and a conviction could lead to heavy fines and even the
possibility of prison time.
Protecting Your Rights in State or Federal Court
The penalties for mortgage fraud are largely determined by the amount of
loss and the defendant's role in the offense that has taken place.
In some cases, both state and federal statutes may play a role in determining
a defendant's penalties and prison time can easily exceed 20 years.
When your rights and freedoms are on the line, you need to make sure you
have solid defense to these allegations against you.
If you have been accused of mortgage fraud, you will benefit from a confidential
consultation with a skilled criminal defense attorney. Here at The Samuelson
Law Firm I provide the highest quality of legal counsel and protection
for my clients on a 24/7 basis, and I am prepared to help you.