A fraud charge is based on achieving personal gain from illegal actions. Credit card fraud results in obtaining products without paying. Falsifying documents may change legal proceedings, or a false signature can change a will. A growing form of fraud charge is mortgage-related fraud. Taking advantage of this form of loan can make someone many thousands of dollars, but it can also put them at risk of arrest.
Those charged with mortgage fraud will need to build a strong defense case in order to either prove innocence or attempt to fight and reduce a possible harsh sentence. The prosecution must have sufficient evidence to convict. Holes in evidence may result in overturning a sentence. Plea bargaining is also a tool that may be used in some cases. By admitting to the crime without a court case, the sentence may be reduced. For instance, rehabilitation classes substituted for jail time.
Sentences for a mortgage fraud charge will depend on the state of the crime. The degree of damage will be considered, and this number will be reflected clearly by the amount of fines assigned. At the very least, the person convicted will probably be expected to repay what was lost.
A mortgage fraud charge is most often associated with obtaining a false appraisal for a mortgage. Inflating the property value can also help someone obtain a larger, but unneeded loan. This can severely hurt lenders.
Taking kick-backs from mortgages, equity skimming, and foreclosure fraud are also becoming more and more common. Foreclosure fraud occurs when lenders take advantage of their clients, or vice-versa. Because of today's troubled housing market, officials are on the lookout for these scams
.
Article Source: http://EzineArticles.com/?expert=Karen_Whitehurst
Those charged with mortgage fraud will need to build a strong defense case in order to either prove innocence or attempt to fight and reduce a possible harsh sentence. The prosecution must have sufficient evidence to convict. Holes in evidence may result in overturning a sentence. Plea bargaining is also a tool that may be used in some cases. By admitting to the crime without a court case, the sentence may be reduced. For instance, rehabilitation classes substituted for jail time.
Sentences for a mortgage fraud charge will depend on the state of the crime. The degree of damage will be considered, and this number will be reflected clearly by the amount of fines assigned. At the very least, the person convicted will probably be expected to repay what was lost.
A mortgage fraud charge is most often associated with obtaining a false appraisal for a mortgage. Inflating the property value can also help someone obtain a larger, but unneeded loan. This can severely hurt lenders.
Taking kick-backs from mortgages, equity skimming, and foreclosure fraud are also becoming more and more common. Foreclosure fraud occurs when lenders take advantage of their clients, or vice-versa. Because of today's troubled housing market, officials are on the lookout for these scams
.
Article Source: http://EzineArticles.com/?expert=Karen_Whitehurst
No comments:
Post a Comment