Reverse Mortgage Fraud Attorneys In Tampa
A homeowner who is 62 years old or older may choose to convert the equity in his or her home into cash through a reverse mortgage. Reverse mortgage fraud is the intentional act of defrauding a financial institution that is insured by the federal government in the course of doing so. As with regular mortgage and real estate fraud, the penalties for conviction of reverse mortgage fraud are severe: up to 30 years of prison and fines of up to $1 million.
In most cases, multiple parties are implicated in reverse mortgage fraud scams. Any party suspected of involvement may be charged. If you are being investigated, consult an attorney right away. One of the experienced and aggressive lawyers at O’Brien Hatfield Reese, PA, may be able to prevent charges from ever being filed, or demonstrate to the prosecutor that your involvement was minor or unintentional.
Mortgage Loan Fraud Defense Lawyers Representing Florida Residents
Our attorneys represent individuals, employees and businesses that have been charged with reverse mortgage fraud. Some scenarios in which this kind of fraud may be charged include:
- Inflating the value of property appraisals to convince senior citizens to purchase property and procure reverse mortgages
- Keeping money obtained through a reverse mortgage rather than using it to pay off the mortgage
- Recruiting senior citizens to assist in reverse mortgage schemes through inaccurate advertisements or other solicitation
- Misrepresenting the risk of losing the property when taking a reverse mortgage
We can defend you or your business against these and related federal and state charges such as:
- Bank fraud
- Falsifying loan documents
- Illegal underwriting
- Mail and wire fraud
Our reverse mortgage fraud attorneys in Tampa have a well-deserved reputation for achieving success for our clients, whether through prevention of charges being filed, a plea to lesser charges or outright dismissal of charges.