Mortgage regulations have grown more restrictive in the wake of the subprime mortgage collapse and recession. Nevertheless, consumers have become the victim of mortgage fraud at alarming rates. This fraud ranges from misrepresentation or nondisclosure, improper lending schemes, misrepresenting appraisal values, and complex, fraudulent mortgage schemes.
What is Mortgage Fraud?
Fraud, at its most basic level, is making some sort of deception, false representation or omission in order to obtain favorable results. Mortgage and loan fraud usually involves a falsehood, misrepresentation or omission on necessary documents submitted to banks and government agencies to secure a mortgage or other bank loan. Mortgage and loan fraud can come in many forms often with very detailed and unique factual circumstances. Some specific examples include of mortgage and loan fraud include:
- Parties providing inflated income information on a loan application in order to get approved
- Real estate developers providing deceptive information to banks in order to qualify buyers
- Mortgage brokers providing false information in order to get a better loan for their clients
- Appraisers inflating the value of a home to increase the mortgage amount
- Real estate agents paying the down-payment on a property without letting the bank know
Lawyers at The Nevarez Law Firm provides aggressive representation for consumers who have been taken advantage of by these industry insiders. Our Firm is aware of the high-stakes nature of many of these cases, and is not afraid to go after industry leaders in order to represent you. As your mortgage fraud attorney, you can count on us to get to the bottom of these cases, sorting fiction from fact and building a strong case to protect your rights.