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.
Call attorney Michael Spano of Syracuse for assertive mortgage and bank fraud defense — 315-350-3975. He serves clients throughout Central New York.
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.
