Blog Layout

Defending Against Federal Mortgage Fraud Charges in South Carolina

Jun 13, 2023

Facing federal mortgage fraud charges can be overwhelming and have serious consequences. Because the penalties for conviction can be severe, it is crucial to have capable and experienced legal representation on your side. At McCoy Law Group, we understand the complexities of these cases and the impact they can have on your life. If you find yourself charged with federal mortgage fraud, it is crucial to act promptly to protect your rights.


Understanding Federal Mortgage Fraud in South Carolina

Federal mortgage fraud refers to the act of intentionally deceiving or misleading a federally insured lending institution, such as a bank, in order to obtain a mortgage loan or gain more favorable loan terms. It involves making false statements, providing fraudulent documentation, or engaging in deceptive practices during the mortgage application process. The fraudulent activities can include inflating property values, concealing financial information, using straw buyers, or participating in schemes to profit illegally from property transactions. Federal mortgage fraud is a serious offense that falls under federal jurisdiction and can lead to substantial penalties, including fines and imprisonment if convicted.


After the mortgage crisis in 2008, federal authorities have become more vigilant in detecting and prosecuting mortgage fraud to ensure economic stability and prevent individuals or businesses from being defrauded. Federal mortgage fraud is a significant offense, and it's essential to take immediate action to navigate the legal process effectively.


Different Types of Federal Mortgage Fraud

Mortgage fraud can encompass various schemes aimed at defrauding federally insured lending institutions. Some common types of federal mortgage fraud include:


  • Silent Second Schemes: A silent second mortgage refers to a type of secondary loan that is obtained without the knowledge or consent of the primary lender. In this arrangement, the borrower takes out a second mortgage on a property while keeping it hidden from the first mortgage lender. The term "silent" refers to the fact that the primary lender is unaware of the existence of the second mortgage.


  • Nominee/ Straw Buyer Loans: A "straw buyer" is employed to buy a property on behalf of an investor who wouldn't have been eligible for the loan due to having numerous other property loans. The investor's plan is typically to sell the property at a profit within a few months, but if the market suddenly declines, the investor may default on the loan and become entangled in a property-flipping scheme. Despite the initial legitimate intentions of the scheme, the investor can face fraud charges for the deceptive practices employed to acquire the real estate.


  • Foreclosure Schemes: This is a fraudulent scheme that takes advantage of homeowners facing foreclosure on their properties. In a foreclosure scheme, individuals or organizations exploit the distressed financial situation of homeowners by offering false promises of assistance or relief in order to defraud them. These schemes often involve perpetrators who pose as foreclosure rescue companies, offering services such as loan modification, foreclosure prevention, or assistance in negotiating with lenders. However, their true intention is to deceive homeowners and unlawfully profit from their vulnerable situation.


  • Inflated Appraisals: Corrupt appraisers, title companies, and others inflate property values in a series of transactions, allowing individuals to pocket the proceeds.


Penalties for Federal Mortgage Fraud Convictions

The consequences of a federal mortgage fraud conviction can be severe. Depending on the specific charges and circumstances, penalties may include substantial fines, mandatory education or treatment programs, probation, and imprisonment. The intended loss caused by the fraud scheme is often a factor in determining the severity of the penalties.


If you are accused of mortgage fraud, you may face criminal charges under various federal offenses, which include:



A conviction for violating 18 U.S.C. § 1014 could result in a maximum prison sentence of 30 years, a fine of up to $1,000,000, or both. It's important to take these charges seriously and seek the guidance of an experienced attorney who can provide effective legal representation and protect your rights.


How Mortgage Fraud Charges Can Be Resolved

When facing federal mortgage fraud charges, various avenues for resolution exist. These may include:


  • Dismissal by the Prosecutor: If there is insufficient evidence or other legal factors, the prosecutor may dismiss the charges against you. Our experienced attorneys will meticulously examine the details of your case to identify potential grounds for dismissal.


  • Diversion Programs: In certain cases, diversion programs may be available as an alternative to traditional prosecution. These programs focus on rehabilitation and addressing underlying issues rather than punishment.


  • Plea Agreement: A plea agreement may be reached between the defense and the prosecution, leading to reduced charges or a lesser sentence in exchange for cooperation or other factors.


  • Contested Trial: If your case proceeds to trial, our skilled attorneys will diligently represent you, challenge the prosecution's evidence, and present a strong defense strategy on your behalf.


Why Choose McCoy Law Group for Federal Mortgage Fraud Defense

At McCoy Law Group, we have a deep understanding of federal mortgage fraud laws and extensive experience in criminal defense. Our dedicated attorneys will provide you with effective legal representation and strategic guidance throughout the process. We will analyze the evidence, assess your options, and develop a tailored defense strategy to protect your rights and pursue the best possible outcome.


Our empathetic and knowledgeable team will support you every step of the way, ensuring you are well-informed and prepared throughout the legal proceedings. We prioritize your well-being and will fight tirelessly to safeguard your future.

Protect Your Rights with McCoy Law Group

If you are facing federal mortgage fraud charges, it is essential to seek immediate legal representation. Contact the McCoy Law Group today for a confidential consultation. Our experienced attorneys are ready to listen, provide expert legal advice, and fight for your rights.

Federal Corporate Fraud: What You Need to Know

08 Sep, 2023
The world of business can be exhilarating, offering opportunities for growth, innovation, and financial success. However, it's important to acknowledge that the corporate realm isn't immune to illegal activities. Among these is the intricate web of corporate fraud, which can entangle unsuspecting individuals in serious legal troubles. At The McCoy Law Group, we know how easily individuals can find themselves embroiled in corporate crime, and the complexities surrounding corporate fraud cases. We’re here to offer pertinent information and reliable legal guidance should you need it. Here is what you need to know should you find yourself accused of this corporate crime.

Uncovering Fraud: A Guide to Federal Qui Tam Cases

14 Aug, 2023
Have you ever come across fraudulent activities that are harming the government? If so, you might have the power to bring these wrongdoings to light and make a significant impact. This is where "qui tam" comes into play – a powerful legal tool designed to fight fraud against the government. The prospect of filing a lawsuit against an employer, a client, or someone of a higher position than you may seem intimidating and worrying, but it is your moral obligation to report any wrongdoing. With qui tam and the McCoy Law Group at your side, rest assured that your case will be handled effectively and with the utmost protection of your rights. We are here to guide and support you in your journey to reveal fraud and protect the public interest.

Understanding the Federal Crime of Insurance Fraud

11 Jul, 2023
Insurance fraud has existed since the inception of insurance itself. Consequently, it is one of the better-known white-collar crimes within the American legal system. Although insurance fraud does not carry the most severe penalties, being convicted of this crime can still significantly impact your daily life. It can lead to fines, imprisonment, and other sanctions. At McCoy Law Group, we understand the gravity of insurance fraud allegations and the impact they can have on individuals and businesses. If you are facing federal charges related to insurance fraud, take immediate action and seek the guidance of our experienced federal criminal defense attorney.

South Carolina Drug Crimes: Classifications and Possible Resolutions

23 May, 2023
Drug crimes in South Carolina are taken very seriously. Even if you have no prior criminal record or if the drugs don't belong to you, you could still face severe punishment when convicted of a drug crime. If you or someone you know is facing drug crime charges, it's crucial to understand the legal implications and your options for defense. At McCoy Law Group, our experienced drug crime lawyer can provide you with the guidance and support you need to build a successful defense and the best possible outcome for your specific situation.

Navigating Embezzlement Charges in South Carolina

08 May, 2023
Embezzlement is a serious crime that can have significant consequences for those who are accused. If you or someone you know is facing embezzlement charges, it's important to understand the law, your rights, and the options available to mount a strong defense. At The McCoy Law Group, we are here to help you navigate this challenging situation and fight for the best possible outcome.

Felony DUI in South Carolina: What You Need to Know

27 Apr, 2023
Driving under the influence (DUI) is a serious offense in South Carolina that can have severe consequences. Not only can it lead to imprisonment and fines, but it can also result in a permanent criminal record that can affect your employment prospects and reputation. DUI laws aim to keep our roads safe by penalizing drivers who operate a vehicle while under the influence of alcohol or drugs. While DUI is a misdemeanor in South Carolina, felony DUI is an even more severe offense. If you or a loved one has been charged with felony DUI in South Carolina, it is crucial to contact the McCoy Law Group as soon as possible. Our experienced legal team is here to help you navigate the complex legal process and achieve the best possible outcome for your case.

When Retaliation Strikes: Protecting Whistleblowers’ Rights

03 Apr, 2023
As a whistleblower, you have the right to report tax fraud, and it's important to do so for the good of society. But what happens if you're retaliated against for doing the right thing? Our firm understands how scary it can be to come forward and report fraud. That's why we want you to know that you have rights and protections under South Carolina law. We also have reliable whistleblower retaliation lawyers ready to fight for you if you experience retaliation.

Tax Whistleblower Cases: Why Blow the Whistle?

15 Mar, 2023
Tax fraud is a serious crime that can cause significant damage to the economy, and those who commit it can face hefty fines and even jail time. Fortunately, the law provides a way for individuals who have information about tax fraud to report it to the authorities and receive a reward for doing so. These individuals are called tax whistleblowers, and they play a crucial role in helping to identify and prosecute tax fraud. At the McCoy Law Group, we understand the importance of tax whistleblowers in uncovering tax fraud, and we are committed to helping individuals who have information about tax fraud to come forward and report it. Peter McCoy, the founder of our firm, is a seasoned attorney who has spent his career fighting for justice and upholding the law. As a former United States Attorney and former member of the South Carolina State House of Representatives, he has the experience and expertise needed to help whistleblowers navigate the complex process of reporting tax fraud.

The Importance of Product Liability Cases

01 Mar, 2023
Product liability is an area of law that holds manufacturers, distributors, and sellers responsible for placing dangerous or defective products on the market. When these products cause someone to get hurt or injured, product liability lawsuits are legal actions that the injured parties can take against those responsible. Peter McCoy and the McCoy Law Group represents clients who have been injured as a result of defective products, and we fight to ensure that our clients receive the compensation they deserve. If you or someone you know has been injured due to a defective product, it is important to contact a product liability attorney as soon as possible. At the McCoy Law Group, we offer free consultations to potential clients, and we can help you determine whether you have a valid claim. We encourage you to contact us today to discuss your case and learn more about your legal rights. 

How to report charity scams

17 Feb, 2023
Charity scams are fraudulent schemes where individuals or organizations falsely claim to be a charity in order to solicit donations from unsuspecting individuals. If you suspect that you have been a victim of a charity scam, it is important to report it to the appropriate authorities. To report a charity scam, you can contact the following organizations: Your local police department: They can take a report and start an investigation into the scam. The Federal Trade Commission (FTC): They can help you file a complaint and provide information about how to avoid future scams. The Internal Revenue Service (IRS): If the scam involves a false tax-exempt charity , the IRS can take enforcement action against the individuals or organizations responsible. If you have been a victim of a charity scam, you may also want to consider contacting a qui tam lawyer. A qui tam lawyer specializes in handling cases where an individual has information about fraud being committed against the government, and they can help you report the fraud and seek compensation. A qui tam lawyer can help you navigate the complex legal process of reporting a charity scam, and can assist you in collecting and presenting evidence to support your case. They can also help you understand your rights and obligations, and provide representation in court if necessary. A Qui Tam lawsuit is a legal action filed by whistleblowers who report instances of fraud. Such lawsuits are filed "under seal," meaning that they are not available to the public, to allow the government to investigate the allegations. In a Qui Tam lawsuit, the plaintiff, or the individual bringing forward the information, is suing both on behalf of the government and for themselves.
More Posts
Share by: