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Mortgage Fraud

Mortgage fraud is a general term used to categorize fraudulent schemes in which individuals obtain money, credit, or equity towards a home. Mortgage fraud can involve buying or selling a home under false pretenses, as well as falsely inflating the supposed value of the property and then selling it at an inflated price.

Often times, when an individual is arrested for mortgage fraud, he or she will be charged with a felony offense. 

Dallas Mortgage Fraud Defense Attorney

The Law Offices of Richard C. McConathy proudly defends individuals who have been accused of mortgage fraud in and around the cities of Highland Park, Dallas, University Park, Southlake, Carrollton, Plano, Irving, Allen, and Arlington. Richard McConathy has years of experience defending clients accused of fraud, and he will work around the clock to ensure that your defense strategy is planned and executed efficiently.

Charges of mortgage fraud don’t have to end in a conviction that lands you behind bars for several years. Contact Richard McConathy today at (972) 233-5700 to schedule your free consultation so that he can begin fighting for your freedom.


Overview on Mortgage Fraud in Texas


Types of Mortgage Fraud in Dallas

One of the most common types of mortgage fraud is committed by falsifying or omitting information on a mortgage loan application in order to receive a loan, or an increased loan amount, which the alleged offender would not have received if the information on the mortgage loan application had been accurately represented. Some of the other, more common types of mortgage fraud commonly committed in Dallas include:

Straw Buyers: The identity of the actual buyer of the home is hidden by using the name and credit history of someone else. An agreement is then made between the two parties where the straw buyer does not have to make any payments on the home.

Foreclosure Schemes: Homeowners who are in danger of having their home foreclosed on are tricked into transferring the deed or and paying fees to the alleged perpetrator. The alleged perpetrator then remortgages the home and keeps the fees paid to him.   

Equity Skimming: This involves using a straw buyer, false credit reports, or falsified income documents to buy a home, then renting that property to someone without making any mortgage payments until the house is foreclosed upon.


Penalties for Mortgage Fraud in Texas

Depending on the value of the property or loan, individuals accused of mortgage fraud are usually charged with a first, second, or third degree felony. According to Chapter 32 Texas Penal Code § 32.32, the penalty guidelines are as follows:

First Degree Felony: Property or loan value of $200,000 or more - Punishable by between five and 99 years or life in prison.

Second Degree Felony: Property or loan value of $100,000 to $200,000 – Carries a potential sentence of between two and 20 years of imprisonment.

Third Degree Felony: Property or loan value of $20,000 to $100,000 – If convicted, an individual can be sentenced to two to 10 years in prison.

In conjunction with prison sentences, a felony conviction in Dallas can also result in a fine of up to $10,000, as well as restitution payments to victims.


Defending Individuals Charged with Mortgage Fraud in Collin County

In order to give yourself the best chance at avoiding a felony conviction, consult with Richard McConathy as soon as possible. The attorneys at The Law Offices of Richard C. McConathy are diligent defense lawyers who will review the details of your case during your free consultation.

Richard McConathy is dedicated to protecting the rights and freedom of his clients. Call him today at (972) 233-5700 if you have been charged with mortgage fraud in Dallas County, Tarrant County, Collin County, Denton County, or the surrounding areas.

Meet Our Attorneys

Brian Bolton and Richard McConathy

Years of experience in defense have merited Brian Bolton and Richard McConathy recognition as Rising Stars from Texas Monthly Magazine.

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Office Locations

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Primary Location

A

15110 North Dallas Pkwy #400
Dallas, TX 75248

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Secondary Locations

B

5068 W Plano Pkwy #300
Plano, TX 75093

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C

5700 Granite Parkway, Suite 200
Plano, TX 75024

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D

1333 W McDermott Dr #200
Allen, TX 75013

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E

777 Main St #600
Fort Worth, TX 76102

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F

1308 Teasley Lane, Suite 116,
Denton, TX, 76205

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All meetings are by appointment only.