Understanding Mortgage Fraud & Its Penalties in PLano
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 Zen Law Firm, is a group of driven federal criminal defense 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.
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