Mortgage fraud is a commonly used term to refer to a broad variety of criminal actions in which the intent of a borrower is to misrepresent or delete information on a mortgage loan application to obtain a loan or possibly obtain a larger loan that could have been procured if the lender knew the truth. This type of criminal offense can be prosecuted in federal court and can be punishable for up to thirty years of imprisonment. Mortgage fraud can be displayed in a variety of ways, including:
Occupancy Fraud– the borrower attempts to obtain a mortgage to acquire an investment property, but states on the loan that the borrower will use the property as his or her primary or secondary residence
Income Fraud– the borrower overstates his or her income to qualify for a larger loan amount
Employment Fraud– the borrower claims self-employment in a fake or non-existent company or claims a higher position in a real company
Fraud for Profit– a complex scheme involving multiple persons aiming to defraud the lender of large sums of money
Appraisal Fraud– a borrower will deliberately overstate or understate the value of their home
Identity Theft– the borrower assumes the identity of another and uses that identity to obtain a mortgage without the consent or knowledge of the victim
Contact A Los Angeles Criminal Lawyer For Your Mortgage Fraud Charge!
If you or someone you know has been charged with mortgage fraud or any other type of fraud, including healthcare fraud, Medicare fraud, Medicaid fraud, insurance fraud or consumer fraud, do not hesitate to consult with a seasoned Los Angeles criminal defense attorney immediately. Your future relies on the firm you choose to work with, so make sure that you pick a leader in innovative and creative defense tactics.
At Okabe & Haushalter, the legal team has been named Los Angeles Magazine Super Lawyers for the last six consecutive years. We are highly experienced in courtroom litigations and have helped dozens already in Los Angeles and Southbay.
The Los Angeles criminal defense attorneys at Okabe & Haushalter are ready to fight to tooth and nail for you. You have most likely heard of our firm from our television appearances, newspaper articles and other media from the national and international covered cases we have handled.