Criminal Defense Lawyers

NYC Appraisal Fraud Lawyers

Buying a home is a very major purchase that needs to be taken seriously. When you are looking to buy a new home, one of the most important things you will need to do is order an appraisal on the home. The home appraisal is a fully written report that will determine the value of the home. This report is then used by people to determine whether they should purchase a home and buy mortgage lenders to determine whether or not they should provide a mortgage. When you are looking to get a new appraisal completed on a home, the vast majority of the time of the appraisal is done by an honest appraiser that is concluding a fair value. However, there are situations in which an appraisal is done unethically and it results in appraisal fraud.

If an appraisal is done inaccurately and it does not reflect the true value of a home, it could be considered appraisal fraud. Under state and federal laws, violating the appraisal fraud laws could result in being charged with a federal crime. In general, appraisal fraud is part of a larger fraud that could include a variety of people including the appraiser, mortgage lender, the buyer, the seller, realtors, or anyone else that could benefit from the sale of the home.

Potential Penalties
While appraisal fraud may not seem like a very big deal when you are charged, there are actually some very severe penalties that come with the crime. If you are charged and found guilty of the crime, you will likely lose your appraiser’s license and will no longer be able to work as an appraiser. You may also be fined for any money that you have earned over a certain period of time in which the fraud took place.

Beyond the civil penalties and loss of license, you could also be facing some serious penalties that can come with federal or state charges. Under US Code and Section 1344, you could end up facing a penalty that will allow for a fine of $1 million and up to 30 years in jail. In these situations, your ultimate charge will be based on whether this was a recurring fraud and how significant any losses were that pertained to the fraud.

If you are charged with appraisal fraud, you likely will also face other charges as well. Since appraisal fraud will result in you directly defrauding the bank, it could also result in charges of bank fraud and wire fraud. Since it is such a serious situation, it would be a good idea to hire legal support to help you fight the charges if you are charged with appraisal fraud.

Types of Fraud Cases Handled
When you hire a NYC appraisal fraud defense lawyer, there are three main types of appraisal fraud that they will work on. One of the main forms of fraud is when an appraiser inflates the price of a home in order to allow a homeowner to either refinance an existing home mortgage or allow a buyer to purchase a new home.

An appraiser could also be charged with appraisal fraud if they were involved in a builder bailout scheme. In a builder bailout scheme, an appraiser will work with a builder to ensure that the homes that they are building appraiser for a certain value. This will then allow the builder to refinance their line of credit, or obtain new credit, in an attempt to continue to build their home building business.

The third type of fraud that an appraisal fraud defense attorney will provide support for is when an appraiser undervalues the value of the property. While most fraud involved appraising a home for too much, there are situations in which under-valuing a property could be advantageous. Depending on the situation, someone could benefit if a property is valued too low by an appraiser. This can include if there was a benefit form a short sale.

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

Load more

Google rating score: 4.9 of 5, based on 736 reviews

Benefits of Hiring a NYC Appraisal Fraud Lawyer
One of the main advantages of hiring an appraisal fraud defense lawyer is that they will be able to help you to build a quality defense strategy. There are a number of different strategies that are commonly followed to defend against appraisal fraud charges. One of the main forms of defense is to prove that the appraisal was done with the best intentions. Since there is a certain amount of opinions that go into determining the value of a home, it can be hard for a prosecutor to definitely say that fraud existed.

Another common form of defense is to say the appraiser did not benefit from the fraud. If the appraiser did not benefit in any way, such as earning additional fees or business, proving fraud can be hard.

If you are charged with appraisal fraud, you should contact an appraisal fraud defense attorney immediately. They will help you build a case to minimize any punishments and ensure your rights are represented.