Mortgage Fraud Lawyers in Michigan
Aggressively Fighting on Behalf of Clients across Royal Oak
In Michigan, mortgage fraud is a serious charge and requires a serious attorney. Under Michigan’s new laws, a person convicted of mortgage fraud could be looking at a 20-year felony. It is important that you contact an experienced mortgage fraud attorney in Michigan who is willing to do what it takes to give you the best possible defense.
Proving Mortgage Fraud
In order to be convicted of mortgage fraud, the prosecutor must prove that you knowingly and intentionally did numerous things.
They need to prove that:
- You used a false pretense
- You failed to disburse funds as agreed upon at closing
- You received money due to false statements or false pretenses
- You made a false statement, misrepresentation, or concealed a material fact
- You filed a document with the register of deeds that you knew contained a material misstatement
The “mortgage lending process” can include transactions that occurred during the application phase, the origination phase, the underwriting phase, the negotiation phase, or any other time during the process of obtaining a mortgage loan. It is important to understand that each violation is a separate offense. So, if you made a false statement, failed to disburse funds, and filed a fraudulent document, you will be charged with three separate mortgage fraud offenses.
Penalties for Mortgage Fraud
Mortgage fraud is a felony, and the penalties vary depending on the value of the property at hand during the time the fraud took place.
Some common penalties include:
- If the value of the property is below $100,000 you could face a 15-year felony and fines up to $100,000.
- If the value of the property is above $100,000 you could face a 20-year felony and fines up to $500,000.
The statute of limitations to bring a mortgage fraud charge against someone is quite lengthy. A charge must be brought within 10 years after the offense was committed or within 10 years after the instrument affecting real property (title or deed) was recorded, whichever time frame occurs later. At The Law Offices of Barton Morris, our mortgage fraud attorneys in Michigan can help you with all your criminal defense needs. We can effectively protect your rights and fight for your best interests.