Have You been Accused of Mortgage Fraud?
In today’s economic climate, there is little sympathy for people committing mortgage fraud. Accusations of mortgage fraud will likely result in negative media attention, and will be handled by judges and prosecutors who are not interested in making a deal, but who will seek the maximum penalty available. To combat these charges, it is important to find an attorney with mortgage fraud experience who can fight and win for his clients.
Mortgage Fraud Penalties
There are a number of different mortgage-related fraud charges, and all of them carry harsh penalties in the event of conviction. Here are just a few examples, involving residential mortgage loans:
- Misstatements. Making or facilitating the use of a deliberate misstatement (or omission) during the mortgage lending process. This is a class 4 felony.
- False filing. Filing a document with the county recorder that contains a false statement is likewise a class 4 felony.
- Receiving proceeds from a fraudulent mortgage loan. This is a class 4 felony.
Note that while all of these are generally class 4 felonies, where the activity is part of a pattern of residential mortgage fraud, it can be charged as a class 2 felony.
Although it is theoretically possible for each of these fraud charges to lead to a penalty of probation, they may result in heavy fines and/or prison time. That said, most charges require the prosecution to demonstrate that there was an intent to commit fraud and, in the event that money is distributed for illegal purposes, knowledge that the recipient of the money intended to commit fraud or another crime with those funds.
Phoenix Mortgage Fraud Defense Lawyer
Mr. Black has extensive experience with Arizona fraud laws. That experience lends itself to an ability to project and predict the next move of the prosecution. He can identify weaknesses in the case against you and exploit those weaknesses on your behalf. The consequences of a mortgage fraud conviction go beyond the criminal penalties. A conviction will probably make it impossible to return to a career in any financial or business market. At the Law Offices of David A. Black, we can help. If you are facing a mortgage fraud charge, contact us today at (480) 280-8028.