An Epidemic Of Mortgage Fraud Cases
Because of turmoil in the real estate markets, the past decade has seen a surge in prosecutions for mortgage fraud. Both state and federal agencies are on the lookout for evidence of fraud-for-profit schemes. The public, which has been deeply harmed by the mortgage meltdown, supports this stepped-up prosecution. Conviction can trash your reputation, wreck your career and keep you from ever owning a home again.
For all these reasons, you need an experienced, effective mortgage fraud lawyer. If you are charged with deception on a mortgage loan application, misleading buyers, hyping property values in an appraisal or trading in properties that don’t exist, you need Syracuse’s Michael Spano.
Other offenses include:
- Identity theft in obtaining a mortgage loan
- Occupancy fraud: Claiming untruthfully that you will live in a property to obtain a lower interest rate
- Shotgunning: Scheming to obtain multiple loans for a single property within a narrow time frame
You can be prosecuted at the state or federal level for mortgage fraud — but the federal charges will be for wire or mail fraud, bank fraud or money laundering.
No one in the industry is safe from investigation: mortgage brokers, real estate agents, appraisers, originators, straw buyers, and anyone involved in the lending, buying and selling processes.
“My firm has the resources and the means to take apart the white collar crime charges that have been made against you. It’s not necessary to prove you are innocent if we can show that the prosecution’s case is weak, and challenge evidence gathered improperly.” — Michael Spano