A year ago, you secured a loan to purchase your dream home. Unfortunately, you're now faced with a homebuyer's worst nightmare and are wrongfully being accused of mortgage fraud. You fear that the accusations will mean losing your home and compromising your reputation. Luckily, a charge does not equate to a conviction and you can fight the claims in court. By educating yourself on the nature of the charge and the action that you can take, you may be able to defend your credibility and your future.
If you are facing a mortgage fraud charge, you are either being accused of deceiving a lender to secure a home or colluding with others for the purposes of making a profit. When you're facing fraud for housing, prosecutors believe that you intentionally misrepresented or misstated a material fact or omitted relevant information on your loan application. Fraud for housing, however, can include lying to a lender about your income and assets. Mortgage fraud is often referred to as a white-collar crime.
Should I hire an attorney?
Mortgage fraud convictions in California can have a drastic impact on your future. Just recently, an Orange County man was sentenced to six and a half years in prison and was ordered to pay $10 million in restitution. The severity of the penalties if convicted are a good reason to hire an experienced private counsel. Hiring an attorney who is well-seasoned in white-collar crime may better your odds of obtaining a not guilty verdict.
You've worked hard to become well-respected within your community. By fighting your charges and knowing your legal rights, you can ensure that your character is protected for years to come.