Saint Petersburg Lawyers Explain How to Avoid Mortgage Fraud Convictions
Getting accused of mortgage fraud can be scary. Even if you didn’t mean to commit fraud, the legal consequences can be severe. As Saint Petersburg lawyers, we often advise clients who face these charges. While some cases may involve actual criminal intent, others stem from honest mistakes or misunderstandings.
In this article, we’ll explain what constitutes mortgage fraud, typical penalties if convicted, and most importantly – how to avoid charges in the first place. We’ll also share defense strategies we commonly use to fight accusations. Our goal is to educate and empower you to make lawful choices that don’t put your financial future at risk.
What is Mortgage Fraud?
Mortgage fraud involves providing false information on a mortgage loan application or during the borrowing process. Examples include:
- Lying about income, assets, debts or other details
- Using someone else’s bank statements or pay stubs
- Faking down payment funds
- Failing to disclose other properties or mortgages
- Colluding with appraisers to artificially inflate home values
Prosecutors take mortgage fraud very seriously, even if the deception seems minor. Federal law imposes up to 30 years in prison for schemes involving federally insured lenders. Florida state laws also allow steep punishments like 5-10 years behind bars.
How to Avoid Mortgage Fraud Charges
The best way to avoid mortgage fraud accusations is by being completely truthful throughout the lending process. However, many charges actually stem from innocent mistakes rather than criminal intent. Here are some tips:
- Work only with reputable lenders and real estate professionals. Avoid “too good to be true” offers.
- Review all documents carefully before signing. Never sign a form you don’t fully understand.
- Disclose ALL financial obligations and properties – even if omitted by accident previously.
- Keep clear records proving source of funds, income history, etc.
- Ask your lender to explain anything confusing. Clarify immediately.
Following these guidelines helps prevent unintentional misinformation that could lead prosecutors to suspect fraud. We also recommend consulting a knowledgeable real estate lawyer before finalizing any mortgage contracts.
Fighting Mortgage Fraud Charges
If you do face mortgage fraud allegations, don’t panic. Skilled criminal defense lawyers can often get charges reduced or dismissed. Defenses we commonly employ include:
Lack of Criminal Intent
As mentioned, many fraud accusations actually reflect paperwork confusion or miscommunication versus willful deception. We’ll thoroughly investigate circumstances around your loan to show innocence.
Unfair Targeting
Some clients get singled out for investigation based on discriminatory factors like race, nationality or religion versus actual suspicion. We fight selective prosecution.
Technical Errors
Procedural mistakes like missing signatures, inadequate notarization, or clerical typos can invalidate charges since cases hinge on documentation.
An experienced legal team combines these defenses to get charges reduced or dismissed pre-trial in many cases. We may also negotiate plea bargains with minimal penalties for clients facing clear evidence of deception. Either way, skilled advocacy makes a huge difference.
Get Help From Saint Petersburg Mortgage Fraud Lawyers
Facing mortgage fraud accusations can ruin family, finances and reputation overnight. Don’t wait to seek expert legal defense from our Saint Petersburg firm. We offer free case reviews so you can understand options and make informed choices. Call today or contact us online to schedule a risk-free consultation.
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