Mortgage fraud is a legal term used for several different frauds, all involving mortgages or mortgage modifications. In California, a wide variety of people can face these charges, including homeowners, real estate agents, and mortgage brokers. You need to hire a Los Angeles mortgage fraud lawyer.
Unfortunately, law enforcement may bring these charges forward even if the evidence against you is slim. Fortunately, the Los Angeles criminal defense lawyers at Simmrin Law Group can help you. We have decades of legal experience on our side.
What Exactly Is Mortgage Fraud?
Mortgage fraud is any type of fraud involving a mortgage. The most common types of mortgage fraud include:
False Appraisals
When an appraiser intentionally inflates the value of a home, it’s considered mortgage fraud. This fraud can be the appraiser acting on their own, or it can be the result of a bribe from a home seller, mortgage officer, or another party.
All parties involved in this intentional misappraisal can face charges.
False Loan Modification Promises
This type of fraud takes advantage of distressed homeowners. Typically, a person or company offers to help the homeowner refinance their home.
The purpose may be to consolidate debt, make smaller payments, reduce the principal, or avoid foreclosure.
The homeowner pays a large fee for this service, but then no relief is ever actually provided. Many legitimate companies have faced charges for this type of offense.
False or Misleading Mortgage Applications
Falsifying any part of a mortgage loan application, including income, debt, or identity, can count as mortgage fraud, specifically when the aim is financial gain.
This list is not exhaustive. There are dozens of different offenses for which a person or company can be charged with mortgage fraud, and your Los Angeles mortgage fraud lawyer can explain them in more detail.
For a free legal consultation with a mortgage fraud lawyer serving Los Angeles, call (310) 896-2723
Defending Against Mortgage Fraud Charges and Related Criminal Offenses
Mortgage fraud is a serious federal offense that can lead to harsh penalties, including prison sentences, hefty fines, and a permanent criminal record.
Whether you’re facing allegations involving false documents, material misrepresentation, or fraudulent intent during a mortgage loan application, our legal team is equipped to challenge the charges.
From straw buyer schemes and false appraisals to wire fraud, mail fraud, and financial institution fraud, our mortgage fraud lawyers offer extensive experience in white-collar crimes and real estate fraud cases at both the state and federal levels.
Los Angeles Mortgage Fraud Lawyer Near Me (310) 896-2723
Real Estate Fraud Cases: Understanding the Legal Risks and Defense Strategies
Real estate fraud charges can arise from a wide variety of alleged criminal activities such as property flipping, rent skimming, loan modification scams, and false statements on rental agreements or mortgage applications.
Property owners, real estate agents, and even potential buyers may find themselves under investigation for real estate scheme involvement or predatory lending practices.
Our real estate fraud attorneys analyze every piece of evidence—such as real estate documents, loan documents, and disclosure obligations—to raise reasonable doubt and challenge the burden of proof required to convict in these cases.
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Our Los Angeles Law Firm Offers Skilled Legal Representation
If you are under a mortgage fraud investigation or have already been charged, time is of the essence. Our experienced criminal defense attorneys provide strategic legal advice and a record of success in defending clients accused of real estate fraud offenses.
Whether it involves rental property, a piece of property involved in a fraudulent transaction, or unjustified enrichment from a larger loan, we can help. Schedule a confidential consultation with our legal counsel through our online form.
We’ll explain your rights, legal obligations, and defense options to help you avoid jail time, protect your professional licenses, and defend against federal mortgage fraud charges.
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What Penalties Do I Face for Mortgage Fraud in Los Angeles?
Grand theft can be charged as a misdemeanor or a felony, depending on the circumstances. While you will face much harsher penalties for a felony charge, even a misdemeanor conviction can result in serious consequences.
Misdemeanor Grand Theft
If you are convicted of misdemeanor grand theft, you could be looking at penalties which include:
- Up to one year in jail
- Up to $1,000 in fines
- Full repayment of the defrauded amount
- Summary probation
Felony Grand Theft
As mentioned, a charge of felony grand theft can result in much greater penalties, including:
- Up to three years in prison
- Up to $10,000 in fines
- Full repayment of the defrauded amount
- Formal probation
When the amount stolen through fraud is determined to be particularly high, you could face additional sentencing enhancements. These enhancements can result in a much longer prison sentence. The guidelines for additional penalties are as follows:
- One additional year of prison time if the value of the stolen money or property was greater than $65,000
- Two additional years in prison if the value exceeded $200,000
- Three extra years in prison if the total was above $1,300,000
- Four extra years in prison if the amount of the theft was over $3,200,000
When you face the potential penalties of this nature, it is important to have an experienced legal professional by your side. A white-collar crime lawyer in Los Angeles, CA, can help you fight the charges against you.
Even if they aren’t able to win your case outright, there is a strong chance that they will at least be able to get the charges greatly reduced.
Talk to a Los Angeles Mortgage Fraud Attorney Now
Prosecutors hit hard on mortgage fraud cases because they see it as a way to get significant convictions and stand up to white-collar crimes. Do not become the next victim of this system. Let the Los Angeles mortgage fraud lawyers at Simmrin Law Group give you a free consultation and help you defend yourself.
We understand the complicated real estate laws and financing rules behind the mortgage industry. And we have a proven track record of successfully defending our clients in these cases.
Call or text (310) 896-2723 or complete a Free Case Evaluation form