Experienced Representation To Defend Against State Or Federal Mortgage Fraud Charges
Whether you are a buyer, seller or mortgage broker, mortgage fraud charges will do more than ruin the sale. Depending on whether you are charged under Texas law or federal bank fraud and conspiracy charges, you could be facing years in a state or federal prison, as well as up to $1 million in fines.
With that much on the line, you need a zealous criminal defense attorney to step in and fight for you. Keith Gore, Lawyer, will stand up for you against state and federal prosecutors. He will give your case the personal attention you deserve, investigating every possible defense, to make sure your rights are protected.
Texas Mortgage Fraud Laws
Since 2007, the Texas Attorney General’s Office has committed a special task force to prosecuting residential mortgage fraud cases. That means everyone from homebuyers to bankers is under a microscope. When the state police and prosecutors believe anyone in the process has used misinformation to obtain mortgage money, they won’t hesitate to press charges.
Federal Mortgage Fraud Laws
There is no one federal statute that prohibits mortgage fraud. When federal agencies bring charges against someone, it is usually under laws banning wire fraud or bank fraud. When there is more than one defendant involved, you could also be facing federal conspiracy charges.
What Mortgage Fraud Looks Like
There are two main kinds of mortgage fraud that prosecutors are watching for:
- Housing fraud – where everyday citizens make false statements to get approved for loans or housing
- Fraud for profit – where real estate professionals make misrepresentations to get more money from a property.
These two kinds of mortgage fraud have different motives and different defendants. The best criminal defense will recognize these differences and use them to your benefit.
Common Mortgage Fraud Strategies
Many state and federal mortgage fraud charges are based on one of several strategies that defendants use to get loans or profit from the sale of property. Keith Gore, an experienced criminal defense attorney, recognizes these strategies, and the defenses specific to them. Some common themes include:
FALSE DOCUMENTATION
Homebuyers in these cases create or modify false documentation to support the loan applications they send to the bank.
FALSE APPRAISALS
An appraiser or real estate agent sometimes intentionally overestimates the value of a property so he or she can make more money from a quick second sale. This is often called “property flipping.” But quickly selling property that has appreciated in value because of a booming housing market or remodeling job is not illegal.
FALSE BUYERS
In these cases, a “straw buyer” is put up as a false front for the sale of a property, hiding the real person who will benefit from the sale. Sometimes a property will be purchased using a stolen identity. In these cases, the defendant faces identity theft charges as well as mortgage fraud.
UNDISCLOSED SECOND MORTGAGES
If a buyer uses a second mortgage to cover his or her down payment without telling the lender, it is illegal. These kinds of loans must be disclosed to the seller before the closing.
Hire An Experienced Mortgage Fraud Lawyer
Mortgage fraud charges can make you lose your home, your job and your freedom. Don’t take any chances. Whether you are facing state or federal mortgage fraud charges, contact Keith Gore in McKinney, Texas, right away to get him working for you. Call 972-529-2220.
