Since the banking crisis and the collapse of the housing marketing, New York has been a target of government initiatives and investigations into mortgage fraud. As the New York Times explains, mortgage fraud involves the use of false or misleading information to coerce a person or financial institution into a transaction.
Mortgage fraud and the related crimes of forgery, criminal possession of stolen property, falsifying business records, and grand larceny all have devastating penalties. Fighting these charges requires a comprehensive and creative defense strategy.
A real estate lawyer from Solomon Richman P.C. will evaluate your case in a free initial consultation. Our legal team will interview witnesses, underwriters and other parties associated with your charges. We have access to forensic accountants and other experts who are integral to defending against mortgage fraud cases, and we will trace documents to find holes in the prosecuting authority’s case. Call 516-437-6443 to schedule a consultation with a real estate attorney in Long Island.
Read on to learn three reasons to hire a lawyer if you are facing charges related to mortgage fraud:
- Conduct Interviews
Depending on the facts of your case, your attorney may argue that you did not knowingly commit fraud. To support this defense, your lawyer can interview underwriters, appraisers, bank managers, witnesses and other parties to prove that you did not have the requisite intent and were unaware that you were a party to mortgage fraud.
- Hire Experts
Property ownership and valuation are likely to be important components in your defense. As such, it may be necessary to hire a forensic accountant and forensic appraisal expert to investigate your case.
- Trace Documents
Your lawyers and their experts will have to evaluate various documents for signs of forgery and fraud. These documents include the:
Loan Application: This will contain details about your employment, your social security number, and information related to your assets and debts.
IRS Form 4506: This authorizes the release of tax returns for income verification.
Appraisal: As previously mentioned, property valuation is likely to be an important component in your defense.
Verifications of Deposit: These are sent to the borrower’s bank to verify that he or she has the finances to make the down payment.
Title Opinion: Did the seller have a valid claim to the property? The title opinion will evaluate court decisions, laws and public records to uncover facts about the property.
In addition to conducting interviews, hiring experts and tracing documents, your attorney can use pretrial and trial defense strategies to fight your charges. These may include challenging the search warrant, challenging the prosecutor’s expert witnesses, or raising loss causation issues in civil cases.
If you were accused of mortgage fraud or a related crime in New York, turn to Solomon Richman P.C. We have been serving businesses and individuals in New York for more than 55 years.
Our attorneys offer the necessary combination of specialties to defend mortgage fraud cases. We are adept in business law, commercial and residential real estate, and criminal defense law. Call 516-437-6443 to schedule a free consultation with a real estate attorney in Long Island.