Jacksonville Criminal Defense Lawyers Describe How to Avoid Mortgage Fraud

Avoiding Mortgage Fraud – Advice from Jacksonville Criminal Defense Lawyers

Buying a house is super exciting! But it can also be scary. There are lots of legal things to think about so you don’t accidentally break the law. We’re Jacksonville criminal defense lawyers and we want to help you avoid mortgage fraud.

What is Mortgage Fraud?

Mortgage fraud is when you lie on your mortgage application to get approved for a loan you normally wouldn’t qualify for. For example, saying you make more money than you really do, or that you have money in the bank that you don’t really have.

Mortgage fraud is a felony in Florida. It can land you in prison for up to 30 years! Plus you could get sued by the bank and owe hundreds of thousands of dollars.

Why Do People Commit Mortgage Fraud?

Most people don’t want to break the law. But sometimes folks get desperate – especially when houses cost so much! They tell themselves “It’s just a little white lie so I can get this house for my family.” We get it. But mortgage fraud is risky business.

How to Avoid Mortgage Fraud

The best way to avoid mortgage fraud is to be 100% truthful on your application. We know – easier said than done! Here’s some tips:

  • Get pre-approved for a loan before house hunting. That way you’ll know your budget.
  • Be upfront with your lender if you have bad credit or other issues. They may still approve you!
  • Never inflate your income, assets, or employment history.
  • Carefully review all paperwork. Don’t sign anything inaccurate.
  • Ask your lender to explain anything you don’t understand.

What If I Already Committed Mortgage Fraud?

Don’t panic! Call a Jacksonville criminal defense lawyer ASAP. We can help minimize the consequences. You may be able to avoid criminal charges by working with the lender to fix the problem.

It’s much better to come clean than get caught later. Banks don’t like being lied to! They’ll dig deep into your finances during the underwriting process.

Let Us Help You

We get it – the home buying process is overwhelming! Our Jacksonville defense attorneys want to guide you through it. We’ll make sure you understand your rights and avoid legal trouble.

Buying a house should be fun! Call us anytime for a free consultation. We’re here to help you and your family.

About the Authors

We are a team of caring Jacksonville criminal defense lawyers. Our firm helps regular folks accused of white collar crimes like mortgage fraud. We dig into the details so you can avoid prosecution.

Our passion is keeping good people out of jail. We have over 20 years combined experience defending complex fraud cases. Let us protect your rights and your future.

Citations

Mortgage fraud penalties in Florida: Florida Statutes 817.545

Tips for first-time home buyers: Bankrate

Working with lenders after mortgage fraud: Avvo

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