The real estate fraud and mortgage fraud involving to the followings:
- – House flipping
- – Use of straw buyers
- – Submitting fraudulent information on mortgage applications
- – Underwriting irregularities
- – Over-reporting income
- – Failure to report secondary residence
Before the subprime mortgage disaster, real estate investors would purchase a property and upgrade it in order to resell it at a profit. When the bottom began to fall out of the market, a number of real estate investors found themselves burdened with multiple mortgages they could not clear or no longer afford. In the process, debts and other financial information may not have always been accurately reported on mortgage applications.
In other instances, real estate investors who could not qualify — or did not want to qualify — for a mortgage using their own information, used “straw buyers” to front for a loan. This could be a relative, a friend, or a colleague. After the purchase and sale of a home or property, the real estate investor would then divide a portion of the profit with the
In both kinds of fraud, investigators often assume there is criminal intent where there may be none. While ignorance of the law is not a defense to being charged, it may mean the difference between having the charges and sentence against you reduced or dropped and spending years in prison. That’s why our criminal attorneys tell our client’s side of the story, providing information that prosecutors often ignore in trying to paint the worst possible picture of a defendant.
As such, a defendant who may have strayed outside the law in order to buy time to regain his or her
financial footing and set things right is different from someone who intentionally falsifies information as a grifter or crook. Unfortunately, prosecutors don’t always distinguish the two.