Have You Been Charged with a Mortgage Fraud or Embezzlement in Mesa?
Mortgage fraud charges may be brought by the State of Arizona in a state court or by the United States attorneys in a federal court. Some of the most common mortgage fraud schemes you may be charged with are: cashback/kickback, reverse mortgage, bankruptcy foreclosure, loan modification, short sale and equitable.
In a cashback scheme, the home buyer offers to purchase a property for a price higher than the asking price with the intention to get a loan for the inflated price, they pay the seller their original asking price and keep the difference.
Technically, reverse mortgages are legal except when it is the intention of the parties to defraud the lender through equity theft or equity stripping.
With a bankruptcy foreclosure, the predatory party targets a distressed homeowner who is facing foreclosure and promises to stop the proceedings for an upfront fee. Many times they will also request monthly payments. They then file for bankruptcy in the homeowner’s name which puts a temporary stop on the foreclosure and the homeowner believes their money was well spent. By the time they realize what happened it is too late and they lose their home anyway.
Loan modification is similar in that the homeowners in distress are targeted and told that their loan terms are being renegotiated while the predatory party keeps the payments.
Penalties for mortgage fraud offenses vary from probation to prison time if the benefit the defendant received has a value of $100,000 or more. Our mortgage fraud attorneys have extensive experience in negotiating plea agreements and taking the case to a jury trial when it is in your best interest.
Embezzlement is a type of property theft that occurs when a person entrusted with someone else’s money or property steals it for their own personal gain. Embezzlement charges can range from Class 1 misdemeanor for $1,000 or less to Class 2 felony with up to 12.5 years in jail for an amount of $25,000 or more. If there is an embezzlement charge against you, contact our embezzlement charges defense attorneys right away.
We serve the cities of Mesa, Phoenix, Tempe, Scottsdale, Chandler, Glendale, Peoria, Paradise Valley, and Fountain Hills in Arizona.