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What You Should Know When Facing Mortgage Fraud

In California, many mortgage fraud investigations are designed to target brokers, bankers, loan officers, and mortgagees. Since a vast majority of prosecution offices are driven by numbers and statistics, many prosecutors will file easy-to-prove cases. They will do this instead of targeting larger, significant cases against parties who have committed the greatest harm to the general public.

Not every party who has exaggerated the value of a home will be prosecuted. Instead, someone who has unlawfully prepared or provided documentation to support loan applications is more likely to face prosecution. When you have been the target of a state or federal investigation involving mortgage fraud, you will need to seek the legal defense of a skilled attorney.

Examples of California Mortgage Fraud

Real estate fraud in California will occur when a person makes a material misrepresentation, a misstatement, or an omission to a loan lender or underwriter in order to secure a more favorable outcome. This can also involve a willful deceit or lie to homeowners, buyers, and sellers for the purpose of financial gain. It should be noted that real estate fraud encompasses a wide range of criminal activity, including rent skimming, foreclosure fraud, and mortgage fraud.

Examples of real estate fraud can include, but are not limited to:

  • Lying on a loan application by providing falsified pay stubs in order to receive a lower interest rate.
  • Falsifying another’s signature in order to use his or her property as collateral for a loan.
  • Charging those facing foreclosure money for help but doing nothing in respect.
  • Making minimal aesthetic changes to a home and lying to buyers about the extent of renovations made to the home.

The Consequences of Mortgage Fraud

When a person is convicted of mortgage fraud under state or federal law, it is possible to face additional penalties aside from imprisonment and fines. For many, a conviction will also hold them responsible for paying restitution to those who are victims of the scheme. Additionally, a conviction will also carry several years of probation when released from imprisonment.

When convicted of a misdemeanor or a felony offense, a permanent criminal record is set. Having a criminal record can affect a person in many areas of his or her personal life, including the ability to pursue a certain career. Moreover, a criminal record can also make it difficult to secure a job and make it impossible to obtain professional licenses.

Obtain the Legal Support of a Skilled Mortgage Fraud Attorney Today

If you are currently being investigated for mortgage fraud by the state or federal government, you will need to seek the legal support of a skilled attorney right away. Mortgage fraud can have a wide range of implications that can affect many areas of your life. Discuss your case with a knowledgeable attorney today.

The skilled attorneys at Milligan, Beswick, Levine & Knox, LLP can help you build a strong case for your defense. With many years of dedicated legal service, the firm has the right tools to help you obtain the best outcome in your mortgage fraud case. Consider scheduling a no-obligation consultation with the law firm today.

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Stephen Levine, is a Board Certified Specialist in Criminal Defense — an honor achieved by only the top criminal law attorneys in California. Mr. Levine has over 40 years of experience in criminal defense and family law serving Southern California, and is a highly regarded Super Lawyer as well as AV Rated attorney.