Ask a Financial Crime Attorney Should I Accept a Plea Bargain for Mortgage Fraud |
Posted: December 9, 2022 |
It's estimated that approximately 10% of mortgage applications in the United States contain deliberate omissions of information or errors. When omissions and errors are performed intentionally, these actions constitute mortgage fraud. Mortgage fraud is a complex crime, and a range of activities can fall into this category. If you are accused of mortgage fraud, finding a Houston financial crime attorney is imperative if you hope to defend yourself against the allegations. Ask a Financial Crime Attorney: Should I Accept a Plea Bargain for Mortgage Fraud?The prosecution may offer you a plea bargain if you are accused of mortgage fraud. Whether accepting a plea bargain is wise will depend on your case's specifics. There are situations where taking a plea bargain is the best option and circumstances where it is a disastrous choice. Since mortgage fraud can be prosecuted on either a state or federal level, the level you are being charged at can impact the effect a plea deal can have on your case. How Plea Bargains WorkWhen you accept a plea bargain, you are typically pleading guilty to a lesser charge or only one or two charges if you are charged with multiple crimes. However, sometimes a plea bargain can have you plead guilty to the complete charge but with the recommendation that you receive a lighter sentence. Resolving the Case More QuicklyGoing to court for your mortgage fraud case can be a time-consuming process. Accepting a plea bargain eliminates the lengthy process of taking your case to trial and allows you to begin dealing with the fallout sooner rather than later. Minimizing Social StigmaWhen you go to trial, keeping the details of your situation private can be challenging, especially if you are well-known in your community or a public figure. Sometimes accepting a plea bargain can help defendants avoid the attention that accompanies a court case. Saving MoneyDepending on your financial situation, you may be concerned about the legal fees associated with hiring an attorney to defend yourself. However, since taking a plea is usually faster than going to trial, you can lower the amount of money you pay for legal representation since your lawyer will just be negotiating your plea bargain, not defending you in court. Stress ReductionSince you do not know how a jury will respond to your case, choosing to go to court is an understandably nerve-wracking experience for most people. Sometimes it makes sense to accept a plea bargain where you know the outcome versus going before a jury and risking them giving you a more severe punishment. A Word of CautionIf you are currently without legal representation, the first thing you will want to do is hire a Houston financial crime attorney to defend you. If you are offered a plea bargain before securing a lawyer, do not accept until you have an attorney looking out for your interest. It's essential to remember that the prosecution does not have your best interests in mind, no matter how pleasant and accommodating they may appear. Contact a Houston Financial Crime Attorney ImmediatelyAs soon as you become aware that you are suspected of mortgage fraud, you must contact a lawyer. Individuals in the Houston, TX area looking for legal representation can visit this page to find skilled lawyers to handle their mortgage fraud cases. The consequences of being convicted of mortgage fraud on a state or federal level are severe and can have long-lasting repercussions.
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