Federal Mortgage Fraud

Facing Federal Mortgage Fraud Charges? Andrew M. Weisberg Can Defend Your Rights

Mortgage fraud is a serious federal crime that involves the use of false information, misrepresentations, or omissions to obtain a mortgage loan or to mislead lenders, borrowers, or other parties in a real estate transaction. Under federal law, mortgage fraud is treated as a severe offense, with harsh penalties including substantial fines, lengthy prison sentences, and a permanent criminal record. If you are facing federal mortgage fraud charges, it is crucial to have an experienced defense attorney like Andrew M. Weisberg on your side to protect your rights and fight for the best possible outcome.

Understanding Mortgage Fraud Under U.S. Law

Mortgage fraud is generally prosecuted under various federal statutes, including 18 U.S. Code § 1344 (bank fraud), 18 U.S. Code § 1343 (wire fraud), and 18 U.S. Code § 1014 (false statements on loan applications). Mortgage fraud typically involves providing false or misleading information during the mortgage application process, appraisal fraud, or fraudulent real estate transactions.

Types of Mortgage Fraud:

• Loan Application Fraud: Providing false information or omitting critical facts on a mortgage application to obtain a loan under false pretenses.
• Property Flipping: Purchasing a property and quickly reselling it at an inflated price based on fraudulent appraisals or misrepresentations.
• Straw Buyer Schemes: Using someone else’s identity or financial information to obtain a mortgage loan with the intention of transferring the property to the actual buyer.
• Equity Skimming: Obtaining a mortgage or refinancing a property and then renting it out without making mortgage payments, ultimately leading to foreclosure.
• Foreclosure Rescue Scams: Defrauding homeowners facing foreclosure by offering to help them save their home but instead stripping the equity or taking ownership of the property.

Penalties for Federal Mortgage Fraud

The penalties for federal mortgage fraud are severe and can have long-lasting consequences. Depending on the specific charges, penalties can include:

• Imprisonment: Penalties can range from 5 to 30 years in federal prison, depending on the nature and severity of the fraud.
• Fines: Fines can range up to $1,000,000 or more, depending on the financial impact of the fraud.
• Supervised Release: Following imprisonment, the defendant may be subject to a period of supervised release.
• Restitution: The court may order the defendant to pay restitution to the victims, including lenders, for the financial losses caused by the fraud.
• Permanent Criminal Record: A conviction for mortgage fraud will result in a permanent federal criminal record, which can affect your ability to secure employment, obtain loans, and more.

Related Federal Offenses

In addition to mortgage fraud, individuals may face related charges under federal law, which can compound the penalties:

• Bank Fraud (18 U.S. Code § 1344): Defrauding a financial institution, which often accompanies mortgage fraud charges.
• Wire Fraud (18 U.S. Code § 1343): Using electronic communications, such as phone calls or emails, to carry out a fraudulent mortgage scheme.
• Mail Fraud (18 U.S. Code § 1341): Using the postal service or any interstate carrier to carry out a fraudulent mortgage scheme.
• False Statements on Loan Applications (18 U.S. Code § 1014): Making false statements to influence the actions of a financial institution regarding a loan application.

Consequences of a Federal Mortgage Fraud Conviction

A conviction for federal mortgage fraud can have severe and long-lasting consequences:

• Incarceration: A lengthy prison sentence can disrupt your life, causing financial hardship and emotional stress for you and your family.
• Financial Penalties: In addition to fines and restitution, you may face forfeiture of assets related to the fraudulent scheme.
• Damage to Reputation: A federal conviction for mortgage fraud can severely damage your personal and professional reputation, making it difficult to rebuild your life.
• Loss of Professional Licenses: Certain professionals, such as real estate agents, mortgage brokers, and financial advisors, may lose their licenses or certifications following a conviction.
• Barred from the Real Estate Industry: A conviction for mortgage fraud can result in a permanent ban from working in the real estate or financial services industries.

Defending Against Mortgage Fraud Charges

Successfully defending against charges of federal mortgage fraud requires a strategic and comprehensive approach. Andrew M. Weisberg will thoroughly investigate the circumstances of your case, scrutinizing the evidence and questioning the validity of the prosecution’s claims. Some potential defense strategies may include:

• Lack of Intent: The prosecution must prove that you acted with the specific intent to defraud. If there was no intent to deceive or mislead, this could be a strong defense.
• No Scheme to Defraud: If the prosecution cannot prove the existence of a fraudulent scheme or that the actions involved were not part of any scheme to defraud a financial institution or borrower, this could be a significant defense.
• Good Faith: If you believed that your actions were legal and had no intent to defraud, this could be used as a defense.
• Challenging the Evidence: Andrew may challenge the credibility of the evidence, such as documents, communications, or witness testimony, that the prosecution is using to build their case.
• Procedural Defenses: Andrew may challenge the legality of the investigation or the methods used to gather evidence against you.

Why Choose Andrew M. Weisberg as Your Defense Attorney?

Andrew M. Weisberg is a seasoned criminal defense attorney with extensive experience handling federal offenses, including charges related to mortgage fraud. His background as a former Cook County prosecutor gives him unique insights into how these cases are built and prosecuted, allowing him to anticipate the prosecution’s strategies and develop a robust defense on your behalf.

When you choose Andrew as your defense attorney, you benefit from:

• Comprehensive Legal Knowledge: Andrew’s deep understanding of federal laws ensures that your case will be handled with the utmost competence and care.
• Aggressive Defense Strategies: Andrew is known for his relentless and proactive defense tactics, exploring every possible angle to protect your rights.
• Personalized Attention: Andrew provides each client with individualized attention, ensuring that your specific circumstances and needs are fully addressed.

The Importance of Early Legal Intervention

If you have been charged with federal mortgage fraud, it is crucial to seek legal representation as soon as possible. Early intervention by a skilled attorney can make a significant difference in the outcome of your case. Andrew M. Weisberg will take immediate action to protect your rights, gather evidence, and develop a defense strategy tailored to your specific situation.

Andrew M. Weisberg: Committed to Your Defense

Facing charges of federal mortgage fraud can be overwhelming and stressful. Andrew M. Weisberg is committed to providing compassionate and effective legal representation throughout the entire process. He will keep you informed at every stage, answer all your questions, and fight tirelessly to protect your rights and future.

Contact the Law Offices of Andrew M. Weisberg Today

If you have been arrested or charged with federal mortgage fraud, don’t delay in seeking legal representation. Andrew M. Weisberg is available 24/7 to discuss your case and provide the immediate assistance you need.

Contact Andrew today for a free, confidential consultation:

• Phone: Call (773) 908-9811 anytime, day or night.
• Online: Fill out the Case Review form on our website, and we will get back to you promptly.

Remember, the sooner you have an experienced attorney on your side, the better your chances of achieving a favorable outcome. Let Andrew M. Weisberg put his expertise to work for you.