What is mortgage fraud?
Typically, federal mortgage fraud occurs when someone gives false information on a loan application for the purposes of buying a home. But there are several other kinds of mortgage fraud charged by the federal government. Most banks are federally insured and thus the federal government has an interest in preventing fraud in the procurement of funds for a mortgage involving the purchase of a home. While mortgage fraud is not codified under federal statutes, the federal government charges an individual under various federal statutes such as the statutes for bank fraud, wire fraud, mail fraud, crimes against HUD or money laundering. People charged with offenses involving mortgage fraud can face penalties of up to 30 years in prison and extremely large fines, in addition to orders of restitution (paying back any money the victim lost as a result of the offense) and forfeiture orders (forfeiting to the government any sums obtained as a result of the offense).
Federal mortgage fraud attorney in New York and New Jersey
If you are threatened or charged with a federal crime involving federal mortgage fraud, you should contact a law firm that has experience dealing with these crimes. Lorraine Gauli-Rufo has represented many clients charged or threatened with mortgage fraud matters over the almost 30 years that she has been practicing federal criminal defense. LGR Law, LLC represents people charged or threatened with federal crimes in New Jersey and the Southern District of New York, which includes Manhattan and White Plains, and has the experience to successfully navigate the complexities of federal mortgage fraud allegations.
Contact Us Today
Do not hesitate to reach out to LGR Law, LLC, if you are contacted by a federal agent or charged with federal mortgage fraud. Email or call us to set up a consultation with one of our mortgage fraud lawyers today. You should anticipate providing the attorney with all the facts surrounding your alleged involvement with the offense, any defenses you might have, and any documents or other evidence relating to the offense. We at LGR Law, LLC are here to fight for your rights and protect your freedom when you are charged or threatened with federal mortgage fraud.
- Falsifying information in loan documents involving the sale, purchase or refinancing of a home.
- Illegal Property flipping. Property flipping in not illegal per se but becomes illegal when someone does not follow the laws relating to the purchase and sale of homes for profit.
- Foreclosure scams.
- Inflated appraisals. This type of mortgage fraud occurs when an appraiser purposefully inflates the value of a home to increase the buying price.
- Straw purchasers. A straw buyer or buyer is someone who specifically and knowingly acts on behalf of the true purchaser, misrepresenting the nature of the transaction.
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