Have you been accused of mortgage fraud? If so, there’s no need to panic. If you’re innocent, then it should be simple to prove this by hiring an excellent mortgage fraud defense attorney. However, you’ll understandably be in a highly flustered state and you may not know what to do after you’ve been accused. If you take the steps below, then you’ll give yourself the best chance of coming out of this situation with as little damage as possible.
What Is Mortgage Fraud?
if you lied or falsified anything when applying for a mortgage, then you’ve committed mortgage fraud. This is becoming increasingly common. You may also be accused of mortgage fraud if you made a mistake on your application or forgot to include information that you should’ve included when applying for your mortgage. It’s also mortgage fraud if a mortgage broker or another form of professional falsifies information to make a profit on a transaction.
If you’ve been accused of mortgage fraud, then you need to start looking for mortgage fraud attorneys in Houston and hire one as soon as possible. It doesn’t matter if you actually committed fraud or not. You need somebody to defend you and get you through the situation so you don’t incriminate yourself further as you attempt to argue your side of the story.
What To Do After You Hire a Mortgage Fraud Defense Attorney
1. Be Honest With Your Attorney
You’re protected by attorney-client privilege, so you can be entirely honest with your attorney. If you committed mortgage fraud, then tell your attorney. They’re not here to judge you. They’re here to talk to you about the severity of your crimes and tell you what you can expect. If you don’t tell your attorney about what you’ve done, then you may jeopardize your entire case if the truth comes out at a later date.
2. Be Prepared to Defend Yourself
If you know for certain that you’re innocent, then it helps to be prepared when you hire your attorney. Gather as much evidence as you can to prove your innocence. Dig up old bank statements and pay stubs, copies of your application for your mortgage, and anything else that will prove the claim against you is false.
If the claim is true due to a mistake on your part, then be prepared to explain how you made this mistake, and find documentation to back up the misunderstanding if you can. Your attorney will be able to help you do this.
3. Be Aware of Your Crimes
If you genuinely have no idea where you are accused of mortgage fraud, then you need to be aware that there are numerous crimes dubbed “mortgage fraud” that you may have committed.
Here are some of the crimes counted as mortgage fraud:
- Flipping properties: You had a property fraudulently appraised at inflated value and resold it
- Fraudulent documentation: You submitted supporting documentation with altered or forged paycheck stubs
- Concealing your identity: You submitted a loan application using the credit history and name of a “nominee” to hide your true identity
- Skimming equity: An investor used false documentation and reports to obtain a mortgage in someone else’s name, then rented the property to pay off the mortgage loan
- Inflated appraisal: An appraiser worked with the loan officer and/or mortgage broker to provide a false appraisal value
- Silent second: A property buyer obtained a second mortgage loan to cover the down payment on their original loan
4. Be Ready to Go to Court
You may have to go to court after you commit mortgage fraud or have been accused of doing so. Ensure you’ve hired an attorney with plenty of court experience and experience arguing the various defense strategies they may need to use to help lessen your charge or prove your innocence if this accusation is false. Many mortgage fraud cases aren’t simple, so you have to be ready for a long and drawn-out fight.
5. Be Honest About Your Crimes
Mortgage fraud is a federal offense. If you committed this crime, then you need to accept that there’s no way to fully get you off your charge. If you’re receptive, remorseful, and listen to what your attorney tells you to do, then you may be able to get yourself a lesser sentence for your crimes. Accept what comes your way, and don’t attempt to go against the judge or jury in any way that would make you appear more unsympathetic.
If you’ve been falsely accused of mortgage fraud, then your attorney will do everything they can to prove your innocence. If you’ve been caught committing mortgage fraud and you’re not innocent, then your attorney will do everything they can to reduce your sentence and salvage your future financial health. Hiring an experienced lawyer will give you the best chance of coming out of this with as little damage as possible.