Florida Mortgage Fraud Lawyer
The real estate market has been tumultuous in Florida for a number of years. Even though many homeowners are starting to get back on their feet, others still face the risk of foreclosure. During these desperate times, it is not uncommon for mortgage lenders and servicers to take advantage of homeowners. Still, it is just as common for these individuals and entities to be wrongly accused of mortgage fraud. Mortgage fraud is charged at both the state and federal level. Regardless of the types of charges you are facing, it is critical that you speak to a Florida mortgage fraud lawyer today.
What is Mortgage Fraud in Florida?
Mortgage fraud occurs during the mortgage lending process. Florida law defines that process as one during which a person is seeking or trying to obtain a mortgage loan for a residential property. Mortgage fraud can refer to any state during the process, which may include a loan application, a mortgage, deed, inspection, appraisal, or any other part of the process.
Essentially, mortgage fraud occurs when an individual or company tries to intentionally defraud another person using misstatements, misrepresentations, or omissions during the mortgage process. The state and federal laws pertaining to mortgage fraud are complex. It is important to speak to a Florida mortgage fraud lawyer that can advise you of these laws and prepare the defense you need.
Elements of Mortgage Fraud in Florida
The Florida Statutes detail that a person has committed mortgage fraud when:
- They had the intention to defraud another person,
- They knowingly and intentionally made a misrepresentation, omission, or material misstatement during the mortgage lending process
- They intentionally used or facilitated the use of material, or important, misstatements
- They received compensation in direct connection with the material misstatement
- They are involved in filing the loan document that contains an omission, misrepresentation, or misstatement
It is important to know that when the prosecution is trying to prove mortgage fraud occurred, the term ‘material’ means important. If a misstatement, omission, or misrepresentation was not important to the loan, mortgage fraud did not occur.
At the federal level, a person commits mortgage fraud any time they:
- Make a misstatement, omission, or misrepresentation when they knew it was false but did so with the intention of receiving a mortgage,
- Use false identification to obtain a mortgage,
- Intentionally inflate the value of assets or land in order to receive a mortgage
- Use a false name, Social Security number, or address to obtain a mortgage
- Use any wire service or postal service in an attempt to perpetrate mortgage fraud
Our Mortgage Fraud Lawyer in Florida Can Advise On Your Case
Being charged with mortgage fraud at either the state or federal level is very scary, but our Florida mortgage fraud lawyer at O’Mara Law Group knows there are defenses available, and how to use them. Every case is unique and the laws governing this offense are complex. Call us today at 407-634-6604 or contact us online to schedule a meeting and to learn more about how we can help you beat your charges.