The economic crisis in the mortgage lending industry has given rise to numerous allegations of fraud on the part of lenders, brokers and realtors. Sometimes these allegations are based on the conduct of one broker acting independently; sometimes they are based on a systematic scheme; and sometimes they are based on what was formerly seen as an acceptable practice in the industry, such as allegations of improper “robo–signing” of loan documents.
Other common issues currently include scams arising out of short–sales, foreclosures, and mortgage modification fraud. There are substantial business opportunities in these areas, as well as the ability to provide significant help to distressed borrowers. However, there is also a real potential for abuse, and in some of these areas there may be uncertainty as to what the law requires.
Charges of real estate fraud are serious. Any sort of fraudulent conduct carries with it the possibility of criminal charges, in addition to civil liability. Individuals operating under state–issued licenses, such as realtors and brokers, generally owe duties of honesty and loyalty to their clients, and charges of fraud can result in suspension or revocation of your license, and can be devastating to your professional reputation. Some recent allegations of fraud in the real estate field have included related charges of securities fraud, mail fraud, financial elder abuse, antitrust violations and even racketeering charges.
If you are the subject of a real estate fraud investigation, or face charges related to any real estate fraud, you need a strong, experienced advocate working on your side. A real estate fraud defense attorney with knowledge of both criminal and administrative enforcement proceedings can advise you on the potential effects of the charges you face and can work with prosecutors and suggest options to help obtain the most positive outcome possible.
At The Law Offices of Vincent J. LaBarbera, we have worked for almost 40 years advising and defending individuals faced with charges of fraud arising out of real estate transactions and other white collar crimes. We understand the impact these charges can have on you financially, professionally and personally. For a confidential consultation call (949) 662-1791 today.