Accused of Mortgage Fraud? a Strong Defense Is Crucial

No matter what type of criminal charges you are currently facing, you would be wise to take your situation seriously. Whether it is a North Carolina state or federal charge, it is important to your future for you to approach white collar crime accusations in the correct manner. White collar crime may not seem as bad because of the lack of an element of violence, but in reality, a conviction could change the direction of your life.

There are various types of criminal activity that may fall under the category of white collar crime, and mortgage fraud is one of these. Whether you are under investigation still or charges are already pending, it is prudent not to delay in building a strong defense and working to protect your future interests.

What is mortgage fraud?

According to the FBI, mortgage fraud is a type of financial institution fraud. This can happen when a person intentionally misrepresents, misleads or misstates on mortgage paperwork, leading the lender to believe and act upon false information. Simply put, if it is a lie that affects the actions or decisions of a lender, it is mortgage fraud. There are two main types of this particular category of fraud:

  • Housing fraud: A homeowner may commit housing fraud when he or she does something illegal to get a lease or purchase of a home. This includes lying about income on an application. It also includes working to have the value of the home misrepresented.
  • Fraud for profit: When committing fraud for profit, a person would use his or her knowledge of the system for financial gain. This includes any action intended to take money from either the homeowner or the lender.

A conviction of either type of mortgage fraud is serious. Consequences could include time behind bars, fines and other detrimental penalties. No matter what you are facing, you would be wise to build a defense that can help you effectively confront these charges.

Protecting your future

Even the accusation of a white collar crime can affect your life. Your career, reputation and personal freedom are on the line, and it is prudent not to waste time in learning how you can protect your future.

It is never too early in the process to start building your defense. When there is much at stake, you may find it beneficial to first seek a complete explanation of your rights and defense options. With the right support and help, it is possible to defend yourself against charges of mortgage fraud.