Arrested for Mortgage or Bank Fraud?

Arrested for Mortgage or Bank Fraud?

Call attorney Edward J. Chandler, Esq. at (954) 788-1355.

If you have been arrested for Mortgage or Bank Fraud in Florida, you need to contact attorney Edward J. Chandler, Esq., for a consultation.

Mortgage fraud includes property flipping and is considered a mortgage fraud scheme. There are severe criminal penalties. These cases are being prosecuted.

Flipping is a crime and occurs when a property is purchased and the value is artificially inflated. This can be done through false or fraudulent appraisals before being resold.

This process may be repeated several times with co-conspirators, until the property is foreclosed on by the lender if no payments are made.

Equity skimming can also be deemed a criminal fraud scheme. Equity skimming uses a straw buyer or nominee buyer who obtained a mortgage loan in the straw buyer's name. After closing, the straw buyer signs the property over to the fraud perpetrator by deed and relinquishes all rights to the property. The property is rented and rental payments received and the mortgage is never paid. Eventually the property is foreclosed by the bank for non-payment.

False down payment fraud occurs when the buyer conspires with a third party such as broker, a closing agent, attorney, seller, realtor, etc. to show a down payment that was not paid or whose source is disguised.

If you are facing mortgage fraud charges, call attorney Edward J. Chandler, Esq. at (954) 788-1355.