close search ×
pile of dollar bills

What Are the Penalties For Mortgage Fraud in New York?

Mortgage fraud is a serious crime in New York, and you could end up facing accusations of additional crimes once you are charged. Such charges can result in serious penalties, but you do not just have to sit back and accept them. Instead, you can contact a Clarkstown criminal defense attorney who will help you fight back against these accusations.

What Punishments Can I Face For Mortgage Fraud?

Mortgage fraud charges are basically always going to be felony charges in New York. As a result, you could be looking at some grim prospects if convicted. You could end up facing:

Jail time: Even defendants who do not have a criminal record could be sentenced to one to three years in prison. Sentences can last even longer based on the specifics of your case and how much money was involved. In some cases, a prison sentence of up to 25 years can be handed down.

Fines: The amount you need to pay in fines can vary based on how much money was involved in the allegedly fraudulent transaction. You are not going to get off lightly if convicted though. Severe financial penalties are a part of every mortgage fraud case.

Professional repercussions: If you are a real estate agent, an appraiser, or another professional with a license, you could end up facing professional penalties as well as criminal ones. The board tasked with overseeing your profession might decide to revoke your license or punish you in another way.

It is also important to remember that you can be hit with additional charges at the state and federal levels when you are accused of committing mortgage fraud. You could be accused of bank fraud, identity theft, check forgery, perjury, and other crimes. When everything is tallied up, you could be looking at a jail sentence of up to 30 years and fines that eclipse $1,000,000.

How Can a Criminal Defense Attorney Help You?

A criminal defense attorney from our firm can look at the specific details of your case and do everything that they can to help you form a defense. There are different types of mortgage fraud and we can tailor our strategy to your situation.

If you are accused of supplying incorrect information on a mortgage application, we can defend you and say that you had no intent to defraud anyone. It was an honest mistake.
We can help you if you are an appraiser who is accused of devaluing or overstating the value of a property as a part of a mortgage fraud scheme. We can help you if you are accused of being a straw buyer of a home. Just tell us more about your case and we will find a way to assist you.

Meet With a Criminal Defense Lawyer

Mortgage fraud charges can derail your life and have far-reaching effects on your career, finances, and so much more. You need to be serious about fighting these accusations, so contact the Law Office of Kevin T. Conway today and schedule an initial consultation. We can take the time to tell you more about how we can help you avoid these harsh punishments.

Our Recent Blogs
Read More Blogs
Website Designed & Managed by