Coral Gables Mortgage Fraud Lawyers – Who Can Help Me?
Finding yourself accused of mortgage fraud can be an incredibly stressful and frightening experience. As a resident of Coral Gables, you may be wondering “Who can help me?” This article provides an overview of mortgage fraud allegations, potential defenses, and most importantly – the top local lawyers in Coral Gables who can assist you.
What is Mortgage Fraud?
Mortgage fraud refers to deliberately providing false or misleading information to obtain mortgage financing that wouldn’t otherwise be approved. Common examples include:
- Inflating income or assets to qualify for a larger loan amount
- Lying about employment status or length of employment
- Failing to disclose other debts or properties owned
- Misrepresenting who will occupy the property
- Appraisal fraud – inflating the home’s value
Prosecutors treat mortgage fraud very seriously, often pursuing criminal charges. Penalties can include hefty fines, years in prison, and restitution payments.
Why Might I be Accused of Mortgage Fraud?
There’s a few common scenarios that could lead to mortgage fraud allegations:
- You’re applying for a mortgage and accidentally submit incorrect paperwork or info. Simple mistakes can sometimes trigger fraud investigations.
- A disgruntled former friend/partner makes false allegations out of spite.
- You’re the victim of a predatory lending scheme or mortgage rescue scam. Unethical brokers may have falsified documents without your knowledge.
- You’re facing financial hardship and become desperate. In tough times, people sometimes rationalize “white lies” on mortgage apps out of fear of losing their home.
Regardless of how you wound up under investigation, it’s critical to consult an attorney immediately. Never try to handle mortgage fraud charges alone.
What Are Some Possible Defenses?
A knowledgeable lawyer will thoroughly examine your case to identify potential defenses. Here’s a few common defenses they may pursue:
- Lack of intent – Prosecutors must prove you deliberately intended to defraud the lender. Evidence showing an honest mistake or lack of willful intent can defeat charges.
- Coercion – If you can show an abusive partner or predatory broker pressured you into going along with a scheme, it may provide a defense.
- Statute of limitations – Mortgage fraud charges must be brought within 5 years under federal law. An experienced attorney can determine if the deadline has expired.
- Improper or unreliable evidence – If evidence against you is provably false, was obtained illegally, or is based on faulty assumptions, an attorney can seek to have it thrown out.
The right lawyer will leave no stone unturned looking for ways to fight the charges and protect your future.