Mortgage Fraud Defense Attorneys

Prosecutions for mortgage fraud and/or real estate fraud in Florida, especially South Florida, have exploded recently as a result of the record high foreclosures. No single law exists that makes it a crime to participate in mortgage and/or real estate fraud, so Federal and State prosecutors use mail fraud, wire fraud, money laundering, and bank fraud statutes to prosecute individuals who have allegedly participated in these schemes and/or acts.

Mortgage fraud and/or real estate fraud is not defined per se; however, common types of mortgage and/or real estate fraud schemes usually fall into one or more of the following areas:

• Property flipping
• Equity skimming
• Nominee loans/straw buyers
• Foreclosure schemes
• Inflated appraisals
• False and/or misrepresented loan documentation
• Accepting kickbacks
• Using false or stolen identity

Property Flipping

Property flipping is a common scheme, occurring when a buyer or group of investors quickly purchase a property and obtain a falsely inflated appraisal value for the property, prior to quickly selling the property for a significant profit. Although it is important to note that not all “property flipping” scenarios are illegal, the scenario becomes illegal when fraudulent appraisal documentation is presented. Typically, this scheme involves kickbacks to title companies, investors, brokers, and appraisers.

Equity Skimming

An investor may use a straw buyer, false income documents, and false credit reports to obtain a mortgage loan in the straw buyer's name. Subsequent to closing, the straw buyer signs the property over to the investor in a quit claim deed which relinquishes all rights to the property and provides no guaranty to title. The investor does not make any mortgage payments and rents the property until foreclosure takes place several months later.

We Value Your Freedom

The Attorneys at Lyons, Snyder & Collin have valuable experience as former economic crime prosecutors. Our extensive experience investigating and prosecuting economic crimes allows our clients to gain every advantage. Mortgage fraud defense is often a complicated matter that lends itself to multiple interpretations. Law enforcement officials often target legitimate business professionals because they are not educated in industry practices. These accusations often result in a tremendous opportunity for wrong conclusions. The attorneys at Lyons, Snyder & Collin often employ specialists such as forensic accountants or appraisers to strengthen their client’s defense. The firm prides itself on delivering creative solutions to complex issues.

Whether you are under investigation or have been charged with some variation of mortgage fraud, it is critical to consult an attorney with experience handling these types of accusations. Contact Lyons, Snyder & Collin 24 hours a day, 7 days a week at 954.462.8035 for your free consultation.