Mortgage Fraud

Mortgage fraud is another very common form of fraud which is being prosecuted more and more rigorously in New York. This category can be broken down into a number of sub-groupings, and can be conducted by a home owner or by corporations and other groups. This is a broad topic, which centers on the act of procuring a loan against the perceived value of a home or property. Our lawyers are familiar with the legislation pertaining to mortgage fraud, and are on hand to provide low fees legal assistance to anyone who is faced with a case of this nature.

There are many ways in which mortgage fraud can be committed. A house or property of any kind is a very valuable asset, and as such there are many ways in which its equity can be used. A common case of fraud using property in New York is when the value of the house or property for which the loan is being secured is falsified. For example an individual who wishes to secure a mortgage on a property may intentionally exaggerate the value of the building so as to obtain additional funds from the bank or financial institution. This is called Mortgage Appraisal Fraud, and can also occur if the value of the house is under-represented. Another form of fraud involving property loans occurs when a loan is secured in the name of someone other than the person who is actually purchasing the site. If for example the purchaser does not have a good credit rating, they may have someone else apply for the loan.

Individuals may also be accused of providing false information in order to obtain a mortgage, or they may have been victims of identity theft by a criminal who obtained a loan in their name. Another serious issue is the taking out of multiple loans on the same property, where the total value of the loans is greater than the value of the house. Whatever the situation, our lawyers are extremely experienced in the area of mortgage fraud law. They can provide those who are under investigation for mortgage fraud or who are facing trial, with skilled representation at a low price.