Bronx Mortgage Fraud Lawyer

Bronx Mortgage Fraud Attorney

Mortgage fraud can have life-altering consequences. Whether you are a real estate investor, a homeowner, or someone caught in the middle of a complex transaction, a mortgage fraud allegation can impact your reputation and put your financial future at risk. A Bronx mortgage fraud lawyer from The Vitaliano Law Firm can help. We understand the intricacies of real estate transactions and hold a thorough knowledge of New York real estate law.

We provide aggressive and strategic legal defenses for individuals and businesses facing mortgage fraud. We’re committed to protecting your rights and helping you navigate the legal system with confidence.

What Is Mortgage Fraud?

Mortgage fraud encompasses many illegal actions involving the misrepresentation or omission of information during the mortgage lending process. The goal of mortgage fraud offenders is generally to obtain a loan under false pretenses or to deceive lenders for financial gain.

In 2021, the U.S. Sentencing Commission received 57,287 reports of mortgage fraud. The median financial loss caused by the mortgage fraud was $371,818. Offenders can face a range of sentencing when charged with mortgage fraud. Of those reported in the U.S. Sentencing Commission’s report, offenders served an average of 14 months in jail for their act of committing mortgage fraud.

Mortgage fraud typically breaks down into two categories:

• Fraud for profit. This is often committed by industry insiders, such as loan officers, appraisers, brokers, or real estate agents. These professionals manipulate mortgage processes for personal or business gain.
• Fraud for housing. This is usually committed by borrowers who misrepresent or leave out information on loan applications to qualify for a mortgage.

Whether you’re facing federal or state charges for mortgage fraud, the knowledgeable criminal defense team at The Vitaliano Law Firm can help defend your rights.

Common Charges Associated With Mortgage Fraud

Mortgage fraud is prosecuted under both New York State law and other federal statutes. Some of the most common criminal charges and legal issues associated with fraud include:

• Falsifying business records
• Forgery
• Grand larceny
• Conspiracy
• Federal mail and wire fraud
• Bank fraud
• Aggravated identity theft

Each charge carries severe consequences. Having the right legal representation on your side can make all the difference between conviction and acquittal.

Penalties for Mortgage Fraud

The penalties for mortgage fraud depend on many factors, such as the amount of money involved, the number of participants, and whether the case is prosecuted at the state or federal level. Keep in mind that federal charges generally come with much more severe penalties.

Potential consequences might include:

• Incarceration
• Fines and restitutions to the victims or lenders
• Probation or supervised release in place of incarceration
• Loss of licenses, such as a real estate license
• Permanent criminal record, which could impact your ability to find employment, housing, or loans
• Asset forfeiture. Prosecutors may seize assets they believe were obtained fraudulently.

An experienced Bronx mortgage fraud lawyer can build a strategic defense that aims to mitigate or eliminate these penalties.

Defense Strategies for Mortgage Fraud Cases

Every mortgage case is unique and, therefore, requires a unique defense. At The Vitaliano Law Firm, we tailor your defense to the facts of your case. We challenge all evidence and scrutinize documents, communications, and witness statements presented by the prosecution. Evidence obtained illegally or that lacks credibility can be excluded.

Mortgage fraud charges require proof that the defendant knowingly and willfully committed the fraudulent act. We may be able to argue that any misrepresentations were unintentional or resulted from a clerical error.

In many cases, the severity of the charges depends on the alleged amount of financial loss. Our team challenges inflated and speculative loss calculations that may not reflect actual damages. We also work to push back on broad or unfair charges that try to make people responsible for acts beyond their control.

FAQs

Can You Sue a Mortgage Company for Fraud?

Yes, you can sue a mortgage company for fraud, but you need evidence that you were intentionally misled or deceived. This might include instances of falsifying loan documents, misrepresenting terms, or engaging in predatory lending. You need to prove that the company knowingly made false statements, that you trusted those statements, and that you suffered financially as a result.

What Kind of Lawyer Do I Need to Sue a Mortgage Company?

To sue a mortgage company, consider hiring a mortgage fraud lawyer. These attorneys hold a thorough understanding of real estate law, lending regulations, and fraud statutes. They can review your loan documents and gather evidence of the mortgage company’s misconduct. Seek an attorney who has a strong track record in mortgage fraud cases, such as predatory lending, wrongful foreclosure, or fraudulent mortgage cases.

How Do I Report Mortgage Fraud in New York?

In New York, you can report mortgage fraud to several agencies. These include the New York State Department of Financial Services at 1 State Street, New York, NY. This agency investigates mortgage-related fraud. You can also contact the New York Attorney General’s Office at The Capitol, Albany, NY. You’re also able to contact the FBI if you believe the fraud is part of a larger criminal scheme.

What Happens if You Are Accused of Mortgage Fraud?

If you’re accused of mortgage fraud, you can face serious consequences. This may include criminal charges, fines, and prison time. Mortgage fraud can be charged at both the state and federal levels, depending on the alleged conduct. If you’re facing a mortgage fraud charge, you need a skilled attorney to help protect your rights and evaluate the evidence against you. A Bronx mortgage fraud lawyer can also negotiate with prosecutors and build a strong defense in your favor.

Contact a Bronx Mortgage Fraud Lawyer

If you’re under investigation for mortgage fraud in the Bronx, you need the help of an experienced Bronx mortgage fraud lawyer. The Vitaliano Law Firm offers legal counsel focused on protecting your rights and building a strong defense plan.

Take proactive steps toward a strong defense today. Contact us to schedule a consultation so we can evaluate your case and help you better understand your legal options.