Any fraudulent actions that involves a mortgage can be treated as mortgage fraud in Long Beach. You should be aware that California does not have a penal code that directly deals with mortgage fraud. This means that you can face grand theft charges if you are accused of mortgage fraud.
The penalties for grand theft can be incredibly harsh. You can end up spending years in jail and paying thousands of dollars in fines if you are convicted.
Make sure that you have the best chances for beating a mortgage fraud charge by contacting the Simmrin Law Group today. You can speak with our mortgage fraud lawyers in Long Beach about the unique circumstances surrounding your case.
Acts that Constitute Mortgage Fraud in Long Beach
There are several actions that are typically considered mortgage fraud in the Long Beach area. Generally, these actions involve:
Home Appraisals
Individuals sometimes try to falsely inflate the worth of a home they are going to sell. Real estate agents, home owners, and even mortgage officers can be involved in this form of mortgage fraud.
Mortgage Applications
The court can prosecute individuals for mortgage fraud if they falsify any information on a mortgage application. This can include income levels or even a person’s identity.
Loan Modification Promises
Any individual that falsely promises to modify a home owner’s loan can be charged with mortgage fraud. This sometimes occurs if a company makes false promises involving refinancing a loan.
Note that there are many other actions that could be defined as mortgage fraud in Long Beach. You can find out more about specific mortgage fraud accusations by contacting a Long Beach criminal defense lawyer right away.
For a free legal consultation with a lawyer serving Long Beach, call (310) 896-2723
Individuals Who Commonly Face Mortgage Fraud Charges
In many cases, mortgage fraud charges are brought against real estate professionals. Realtors, appraisers, loan officers, and mortgage brokers can all be charged with mortgage fraud.
However, homeowners or home buyers may also commit acts of mortgage fraud. Even escrow agents can face mortgage fraud charges. The court system in Long Beach can even prosecute groups for a single act of mortgage fraud.
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Mortgage Fraud Penalties in Long Beach
As we mentioned previously, you will likely face grand theft charges if you are accused of mortgage fraud in Long Beach. Legally, individuals who commit mortgage fraud are engaging in theft by false pretense.
Grand theft may be charged as a misdemeanor if you fraudulently take less than $950. The penalties for misdemeanor grand theft can include:
- $1,000 in Fines
- 1 Year in Jail
Individuals who take more than $950 through mortgage fraud can be charged with felony grand theft. A felony conviction for grand theft can lead to:
- $10,000 in Fines
- 3 Years in Jail
Note that the court can use enhancements to these penalties if individuals steal incredibly large amounts. You may have the following time added to your sentence if you are accused of mortgage fraud in excess of:
- $65,000-$200,000: 1 Additional Year
- $200,000-$1,300,00: 2 Additional Years
- $1,300,000-$3,200,000: 3 Additional Years
- $3,200,000 or More: 4 Additional Years
Make sure you take any mortgage fraud charge seriously by contacting a white collar crime lawyer in Long Beach.
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A Mortgage Fraud Lawyer Can Build Your Defense
You may feel like you cannot beat a mortgage fraud charge, but a legal professional may be able to construct a defense for your case. Defenses that can help individuals accused of mortgage fraud include:
You Did Not Intend to Commit Fraud
Individuals must knowingly attempt to steal in order to be convicted of grand theft. This means that you should not face a mortgage fraud conviction if you acted on good faith or fell victim to a mistake.
You Were Falsely Accused
Many innocent individuals are accused of committing acts of mortgage fraud. The actual guilty party may try to place the blame on you. You could even be tricked into a fraudulent act after someone gave you false information that you believed.
Building a defense for a mortgage fraud accusation takes skill and legal training. Let a mortgage fraud lawyer in Long Beach work aggressively on your case today.
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You Can Get Free Legal Advice from a Long Beach Mortgage Fraud Lawyer
The team at the Simmrin Law Group knows how frightening it can be to face mortgage fraud charges. That’s why we offer individuals in your situation a FREE consultation about their legal options. You can start getting the legal answers you need right away by contacting our mortgage fraud lawyers in Long Beach.
Take charge of your future by completing our online contact form or calling (310) 896-2723.
Call or text (310) 896-2723 or complete a Free Case Evaluation form