Plano Mortgage Fraud Attorney
Understanding Mortgage Fraud & Its Penalties
Law enforcement agencies in Texas are on the lookout for evidence of mortgage
fraud, which has gained increasing amounts of attention in the wake of
the foreclosure crisis in recent years. Prosecutors work closely with
the Office of the Attorney General, the Department of Public Safety, the
Texas Department of Banking, the Texas Real Estate Commission and several
other agencies in the campaign against this type of
fraud. Mortgage fraud is typically committed against banks and other financial
institutions that provide mortgages to home buyers and businesses.
There are several common practices, and they all revolve around providing
false or misleading information in order to secure a larger loan, a lower
interest rate or foreclosure. In some cases, the prospective borrower
will obscure their credit history or misrepresent their income, often
at the suggestion of a dishonest real estate agent or mortgage broker.
Many people get away with mortgage fraud, but anyone who is caught will
face severe criminal penalties.
Most mortgage fraud defendants will receive felony charges, due to the
large sums obtained for purchasing a home. Depending on the amount, the
penalties include up to 180 days in jail, a fine of up to $10,000, and
imprisonment between 5 to 99 years. If you are accused of mortgage fraud,
it is vital that you hire an aggressive Plano criminal defense attorney
who is experienced with the laws regarding home loans, credit and recent
developments in the field.
Protecting Your Rights: Contact Our Texas Law Firm
The Zendeh Del Law Firm, PLLC is a group of driven attorneys that will fight
to clear your name and protect your future. Many families find themselves
facing mortgage fraud charges as a result of honest mistakes, and there
are many ways to resolve the situation successfully. Each case is unique,
and an attorney from our firm will discuss your case in detail to determine
the best course of action.
Contact a Plano mortgage fraud attorney
to learn how our firm can help protect you.