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Mortgage Fraud is Down Nationwide—But Still Highest in South Florida


According to reporting from the Miami Herald, new mortgage fraud cases were down in the third quarter of 2019—both nationwide and in South Florida. However, once again, South Florida leads the nation in mortgage fraud. In fact, the Miami metro area has the most mortgage fraud reports in the country in the first half of 2019. Miami was followed by the New York City metro area and the Los Angeles metro area. 

How Mortgage Fraud Victims Can Protect Their Rights 

Mortgage fraud comes in a wide range of different forms. In some cases, mortgage fraud is committed by lenders who fail to respect the legal rights of borrowers. In other cases, mortgage fraud is committed by borrowers inflating their income or property sellers inflating the value of real estate. If you believe that you were a victim of mortgage fraud in South Florida, you are certainly not alone. Many hundreds of mortgage fraud complaints are filed in other regions. Victims of any type of mortgage fraud should take the following three steps: 

  1. Get the Facts, Track Down Documents: Being a victim of serious fraud—especially mortgage fraud—is stressful, frustrating, and overwhelming. During a potentially difficult time, it is crucial that you try to stay calm and clear-headed so that you can take action to protect your legal rights and financial interests. To the best of your ability try to document exactly what happened. Keep all records, correspondence, and other documents related to the fraud. Additionally, write down comprehensive notes regarding the fraud. The more information you have, the better off you will be.
  2. Report the Mortgage Fraud: Unfortunately, all types of fraud are chronically underreported in the United States. Many fraud victims are embarrassed. Further, they feel that they simply do not have options to recover their money. Do not give up. There are options available. You should report the fraud to the appropriate authorities. In most cases, this begins with filing a report with the Florida Department of Financial Services and with the Florida Attorney General. Though, in some cases, you may want to alert federal authorities.
  3. Call a Fraud Lawyer: Finally, victims of mortgage fraud should seek professional legal representation. Schedule a confidential initial consultation with an experienced Florida mortgage fraud lawyer. During this consultation a lawyer will be able to listen to your story and review the evidence that you have in your possession in order to explain your legal rights and legal options. Financial compensation may be available. 

Speak to a Florida Business & Consumer Fraud Attorney Right Away

At Pike & Lustig, LLP, our skilled West Palm Beach business & consumer fraud lawyers are strong and accomplished advocates for our clients. We will protect your rights. If you have questions or concerns about mortgage fraud or any related civil legal matter, we are available to help. Call us now for confidential assistance. With law office locations in Miami and West Palm Beach, we represent fraud victims all over Southern Florida, including in Broward County.




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