Law Library | Attorney Advertising | Financial Services | Affiliate Program | Blawg
Find the Right Lawyer Now:
What is Mortgage Loan Fraud?
According to a recent press release from the FBI, mortgage loan fraud is one of the fastest growing white collar crimes in the United States. So, what is mortgage loan fraud?
Mortgage loan fraud is any misstatement, misrepresentation, or omission made by someone trying to get a loan which is relied upon by a lender. Basically, lying on your mortgage loan application is mortgage fraud. Even if you just exaggerate a little bit, you have committed mortgage fraud.
Committing mortgage loan fraud, even accidentally, can have serious results. If your lender finds out that any part of your loan application was false, it can demand an immediate full repayment of your loan. Also, since mortgage loan fraud is a crime, you run the risk of an investigation, possible fines, and even jail time.
If you are concerned about mortgage loan fraud, you should consult with a lawyer. An experienced criminal defense attorney can review your situation and advise your rights and responsibilities, and recommend a course of action.
Consult a Lawyer - Present Your Case Now!
Find the Right Lawyer Now:
Did you find this article informative?
