Real Estate Fraud Attorney
For most individuals, purchasing property, whether for residential or commercial use, is one of the most significant investments they will make both financially and emotionally. Unfortunately, many homeowners often fall victim to real estate fraud as a result of working with criminal insiders like mortgage brokers, appraisers, or others employed within this industry. Whether you are the buyer or the seller, it is important to get help pursuing justice after being victim to real estate fraud by contacting a Fort Lauderdale real estate fraud lawyer as soon as possible.
Attorney Daryl L. Jones of The Law Offices of Daryl L. Jones, P.A, is a Fort Lauderdale, Florida, real estate fraud lawyer dedicated to helping clients maintain their rights and interests when it comes to purchasing property. Award-winning Attorney Daryl L. Jones has the unique qualifications necessary to help clients with all their needs concerning real estate fraud. After you have suffered financially as a result of this crime, it is crucial that you have the help of a legal professional who can review your case to ensure your rights are protected.
What Is Real Estate Fraud in Fort Lauderdale?
Real estate fraud can happen to anyone, even experienced property buyers. Everyone, especially first-time homeowners, may fall victim to this scheme at any point through the real estate transaction process.
Real estate fraud in Florida is defined as fraud for profit and can be committed by the buyer or the seller. When real estate fraud is being carried out, the goal by the perpetrator is to misrepresent or falsify information to take advantage of the other party in the purchase or sale of a piece of property.
What Are Different Types of Real Estate Fraud?
Unfortunately, there are many different ways that a buyer or seller may become the victim of fraud during the real estate transaction process. Some of the most common types of real estate fraud in Florida include:
One of the most common types of real estate fraud, mortgage fraud, occurs when an intentional misrepresentation, misstatement, or omission of information is relied upon for a lender or underwriter to purchase, insure, or fund a loan that is secured by real property.
This type of fraud is a scam where different properties or mortgage loans are lumped together and sold to an unassuming buyer. The buyer will only be aware of one property, but their personal information is used to obtain mortgage loans for several properties. Once the real estate closings are complete, the person running the scam will keep the extra loan money.
This is a crime where the perpetrator obtains the title to someone else’s property, typically a property that is in foreclosure, then refinances the property. They will take all the equity from the property without following through on their promise to return the property to the original owner. The original homeowner will now be faced with foreclosure as a result.
Modification or Refinance Fraud
This type of real estate fraud occurs when one party knowingly understates their income or illegally claims a property to be their primary residence with the goal of obtaining refinancing or modification with better terms.
Buy and Bail Schemes
This type of fraud occurs when a homeowner is up to date on their mortgage payments, but their property value is less than what is owed to their lender. They will borrow money to purchase another piece of property and once the funding is secured, likely with another mortgage loan, they will default on the original property. This will cause the first home to enter into foreclosure.
Should You Hire a Fort Lauderdale Real Estate Fraud Lawyer?
Real estate fraud is a serious crime. Victims of this offense often suffer huge financial losses as a result. Real estate fraud is more common than one would hope and even the most careful and experienced buyers or sellers may become targets.
If you suspect that you may have been the victim of real estate fraud in Fort Lauderdale, Florida, it is important that you act quickly and get the help of a trusted real estate attorney as soon as possible.
Contact a Fort Lauderdale Real Estate Fraud Lawyer Today
The Law Offices of Daryl L. Jones, P.A, is a Florida real estate fraud law firm with over 30 years of experience helping clients who have suffered losses as a result of this crime. We understand that being the victim of this serious offense can cause financial and emotional losses for the victims involved. That is why we work hard to help you get the justice you deserve. Award-winning Attorney Daryl L. Jones is passionate about assisting clients with any and all real estate law concerns. To schedule your free initial strategy session, contact us here or call 305-969-3602.