White Collar Criminal Defense Attorney
Case Consultation

DC Federal Mortgage Fraud Lawyer

Mortgage fraud refers to a wide range of behaviors that include real estate mortgages. Most often, individuals charged with this crime are accused of providing a lender with false or misleading information in order to receive a loan. Home buyers are often accused of mortgage fraud, by anyone who is believed to have helped provide the false information, including mortgage brokers or real estate agents can be charged. Mortgage fraud is a federal offense, and if you are charged, you will probably need the aid of a Washington DC federal mortgage fraud lawyer. A distinguished fraud attorney can help you prepare for trial by investigating the charges against you.

Fraud for Housing vs. Fraud for Profit

There are two different types of mortgage fraud, but they can both carry up to a 30-year prison sentence and a $1,000,000 fine. The first type, fraud for housing, occurs and a person or organization submits false information to obtain a loan. This act often involves providing fake documents, such as W-2s or bank statements to increase the odds for approval.

The second type of fraud is known as fraud for profit, and it occurs when a real estate professional helps a borrower to commit fraud. After the transaction is complete, the real estate professional takes a percentage of the sale profits. If a person is charged with one or more of these crimes, they will need a Washington DC federal mortgage fraud lawyer to help them.

 Applicable Legal Acts

“Mortgage fraud” is a blanket term that refers a range of illegal acts. Individuals can be charged with mortgage fraud for engaging in the following behaviors:

  • Submitting false financial documents
  • Knowingly appraising a home at an inflated value
  • Using the information of another person to obtain a loan
  • Using the name of another person to get a loan
  • Taking out a second mortgage to pay for the down-payment on another without the permission of the person who is responsible for paying the initial mortgage
  • Obtaining a mortgage and turning the property over to an investor to rent until the tenants can no longer make payments.

Often, individuals are unaware they are engaging an illegal act, and sometimes, they have been coerced by others. Unfortunately, they will still be charged and need help from a Washington DC federal mortgage fraud lawyer.

Role of Dishonest Lending Practices

When it comes to mortgage fraud, individuals who are accused are not always guilty. Borrowers can be charged even if 99 percent of the information they provided is correct, and even if their application for a loan is denied.

There have been many cases where banks openly encouraged borrowers to commit mortgage fraud so they could loan them the money, and when the borrower cannot afford to pay any longer, the bank accuses the borrower of fraud. The federal government then steps in to prosecute the individual and collect on the loan. Fraud is a serious crime, and if you are convicted, you could end up spending several years in prison. If you have been charged with mortgage fraud, you should take the time to contact a DC federal mortgage fraud lawyer.

Scholarship Scholarship