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Residential Mortgage Fraud In The Fifth Degree: New York Penal Law 187.05

Residential mortgage fraud is a serious crime in the state of New York. There are a number of serious repercussions including fines and jail time. Under New York Penal Law 187.05, residential mortgage fraud in the fifth degree is not a felony. It is, however, a misdemeanor that is punishable by a year in county jail. While this fraud may not be as serious as some fraud offenses, it can still make a mess of your life and reputation. If you are accused or arrested for this type of white collar crime, you should seek out a reputable criminal defense attorney as soon as possible. There are a number of New York theft lawyers in the Bronx, Queens, Brooklyn and Manhattan, who can take your case.

Residential mortgage fraud in the fifth degree is defined as intentionally intending to defraud, or present written statements that are knowingly false. Additionally, the information must be concealed to intentionally mislead a person or a business, and the written statement must be used to solicit a loan or application. If any of these infractions are committed, you will face charges. This is the time to get a competent New York mortgage fraud lawyer. Only they can look at the charges you are facing and give you an honest assessment of your case. Not every case is open and shut. There may be times when mitigating factors could offset the charges. But only a seasoned attorney can determine that.

Residential mortgage fraud in the fifth degree deals specifically with residential mortgage loans and residential real property. The residential mortgage loan used for credit or refinancing, and is made to a person for the purpose of seeking ownership of a property. Residential real property can be a residential unit or a building that is intended to be occupied. These types of fraud crimes happen quite often. The New York state court system is clogged with these offenses and in many cases, the offenses are far more egregious than fifth degree. A highly-skilled New York residential mortgage fraud attorney can provide you with a vigorous defense against any charges. Time is of the essence. You need to get your case moving as quickly as possible.

Individuals should think long and hard before knowingly signing paperwork that can result in you being arrested. Ask yourself, is it really worth it? Although the crime is a misdemeanor, it can still follow you around for life. If you are attempting to get a job, fraud is a word that stands out. It can potentially ruin your life and everything you worked hard for. Even in the case where you unknowingly signed documentation, you will be forced to clear your name. As the saying goes, ignorance of the law is no excuse. It can be a long and arduous process. The wheels of justice grind very slow in the state of New York.

A good New York mortgage fraud attorney can help you by looking at other legal statutes involving your case. The accusation is not the end of the road. These lawyers have decades of experience under their belts and have successfully defended many other clients. If you have been arrested, don’t despair. Let an expert help you navigate through this difficult process.

On the flip side, your attorney is obligated to let you know what you may potentially face. There are some times when the evidence is so damning, there may not be anything that can be done. If you plead guilty to the offense, your lawyer may be able to get you a reduced fine and sentence. You may only spend a few months in Riker’s Island.

The bottom line is, if you are arrested for residential mortgage fraud in the fifth degree, don’t waste time, find an attorney now. This is something where you cannot afford to delay. Your lawyer needs to have a sufficient amount of time to mount a viable defense. You will need a vigorous defense against these charges to avoid fines and jail time. It is up to you to find out your rights. There are very successful mortgage fraud attorneys in New York who are eager to help you. Consultations are usually free.

by Leonard on Spodek Law Group
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