Fraudulent activity related to real estate holdings or personal home equity can be prosecuted at either the state or federal level. In either case, the law imposes serious consequences for a mortgage fraud conviction. Beyond prison time and a permanent felony record, you could also be liable for damages experienced by defrauded individuals. Ultimately, a conviction could cost you hundreds of thousands of dollars.
Contesting criminal allegations of mortgage fraud is of the utmost importance, and reaching out to a seasoned white-collar crimes attorney should be high on your priority list. You should speak with an Omaha mortgage fraud lawyer regardless of whether you have already been charged or are currently under investigation.
What Actions Constitute Mortgage Fraud in Omaha?
There are several actions that constitute mortgage fraud in our area. For example, a professional may commit fraud during a real estate transaction for personal profit, or an individual homebuyer may commit fraud to obtain a loan or close on residential property. Either way, mortgage fraud offenses are often considered felonies given the amount of money and the number of parties they typically involve.
Some of the most common forms of mortgage fraud that attorneys see involve:
- Someone buying property through a “straw buyer” with better credit;
- Someone using a stolen identity to complete a real estate purchase;
- Falsely inflating property value in order to make more money reselling it;
- Submitting forged or falsified income documentation when applying for a loan or a mortgage;
- Colluding with a mortgage broker to artificially inflate the appraisal value of property; or
- Using a second mortgage to make a down payment on another mortgage or loan.
Investigations and Allegations
One of the most important elements of any mortgage fraud case is intent. In order to be found guilty of this kind of offense, a defendant must have knowingly and intentionally committed a fraudulent act. This means that a person who acted in good faith and did not intend to provide false or misleading information cannot be convicted of mortgage fraud.
Alternatively, charges of mortgage fraud may stem from misrepresentations in important documents rather than intentional deceit. In this case, an Omaha lawyer can help correct errors as needed or confirm the facts of a defendant’s prior statements to avoid a mortgage fraud conviction.
Finally, innocent individuals are sometimes inadvertently caught up in fraudulent schemes perpetrated by others. In these instances, it’s not uncommon for prosecutors to accuse people of playing a more active role than they actually did. Berry Law can help you clear up these kinds of misunderstandings and affirm that you were a victim of mortgage fraud rather than responsible for committing or condoning it.
Speak with an Omaha Mortgage Fraud Attorney Today
Mortgage fraud cases are often very complex criminal proceedings. The transactions in question often involve millions of dollars in value, and multiple parties may be called to testify or provide documentation. With guidance from seasoned legal counsel, you can stay organized and effectively defend yourself in court.
Help is available from an experienced Omaha mortgage fraud lawyer at Berry Law. If you are facing an investigation or criminal prosecution for mortgage fraud, an attorney at Berry Law could answer any questions you may have about your legal options. Call Berry Law today to schedule a confidential consultation.