Criminal Defense

if one of the booming industries then is real estate, the recent financial meltdown has brought the aforementioned industry to its knees. This is probably the reason why there has been a recent increase in the number of mortgage fraud cases. The surprising thing with regards to these cases, notwithstanding, is that more than half of them were borne out of a collusion between a borrower and a mortgage industry insider.

there are a lot of ways by which mortgage fraud can be consecrated. This could include income and employment fraud, reverse mortgage fraud, phantom help, identity theft, short sale fraud, bait and bump, equity stripping or skimming, lease buy-back, and house flipping.

oftentimes, in mortgage fraud cases, the victim can not be as innocent as they seem. This is normally the case when the borrower pockets the extra money without looking into where the cash came from. In cases like these, mortgage industry insiders who should have known better can be held accountable.

in order to keep yourself from getting involved in a mortgage fraud case, you have to be vigilant. Whether or not you think the deal is too good to be true considering how much you’re making in a month, then it probably is. Whether or not you’re not certain whether to trust the real estate agent you’re talking to, ask for a license. Dealing with a licensed individual can give you more assurance that he has little less prospects of “tweaking” any info that you give.

you should likewise see to it that you do not sign any blank document or documents where indispensable info has been left out. Whether or not there are clauses in the document that is not clear to you or you do not grasp, never hesitate to ask the agent for a exhaustive comprehensible statement.

be wary of humans offering you loan modifications services. Whether or not they do not have the essential license, are asking for a direct admittance to your bank accounts, or are requiring you to make an upfront payment, do not deal with them.

in case, even after you have taken all the essential precautions, you still find yourself facing a mortgage fraud case, one of your best choices would be to find a lawyer well-educated in handling mortgage fraud cases. As soon as you get wind that you may have been implicated in a mortgage fraud case, you ought to get in touch with the section of financial institutions. You ought to likewise collect as much proof as possible to prove that you’re innocent.