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In New York City What is Equity Skimming?

An experienced criminal defense attorney, New York City's Joseph Potashnik has a proven track record of protecting clients' rights. Some of the offenses that the team at Joseph Potashnik & Associates handles regularly include computer crimes, weapons crimes, theft/burglary, prostitution/solicitation/sex crimes, fraud, Medicaid fraud and drug crimes. Not only is an arrest a serious matter, a criminal conviction will give you a permanent criminal record. It can be impossible to get a job and your relationship with your family as well as you reputation could suffer serious damage.

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In New York City What is Equity Skimming?

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  1. What Is Actually Perceived As Equity Skimming In NYC

  2. As Equity Skimming In NYC Equity Skimming is a re-finance associated with subprime lending and is viewed as ‘skimming the equity.’ The person accused of equity skimming solicits the rapidly nearing foreclosure of a house owner and provides her or him a loan in return for the transferal of title. Mortgage Fraud is one of the main crime problem aspects, according to the Financial Crimes Unit of the FBI. To improve the performance of FBI mortgage and fraud investigations, all such cases are merged under the Financial Institution Fraud Unit. The FBI collects information about mortgage fraud as well as equity skimming via the Department of Housing and Urban Development-Office, in accordance with NYC criminal defense attorney Joseph Potashnik.

  3. As Equity Skimming In NYC The incidents of real estate investors acquiring home titles inexpensively and leasing them out until the loan company catches up are rising. The latest tactics of equity skimming are aimed towards taking advantage of the enormous number of vacant and foreclosed homes. Additionally, just like banks, who are the initial lien holder on the properties, could take a long time sometimes to foreclose, the tactic might offer hefty cash earning. A trader can easily get a house for a couple of thousand dollars from a home foreclosure auction and can conveniently get the a refund in a few months’ worth of rent.

  4. As Equity Skimming In NYC Home Equity Theft Prevention Act Federal Housing Administration looks upon Equity skimming like a federal criminal offense. In New York, equity skimming is limited by the Home Equity Theft Prevention Act. This act necessitates customers of pre-foreclosures to record with the state and pay a fee for enrollment, should they have got any strategies to purchase a property which has been declared in default by the financial institution. There are straightforward details pertaining to the timelines for default and when to subscribe. Any failure to do this can lead to major penalties, which is far beyond any equity that you are found accountable for taking by the courtroom. Contact a popular NYC criminal defense attorney for more info.

  5. As Equity Skimming In NYC If you live in New York area and think that you have been a victim of equity skimming, then speak to lawyer Joseph Potashnik & Associates. The cases of inspection and prosecution of mortgage fraud are growing. Hence, it is very crucial you attain best possible legal defense and as early as possible from the ideal attorney that is an expert in these types of cases. So, if you or a friend or acquaintance is facing violations, allegation or an inspection related to equity skimming, acquire legal help right away.

  6. As Equity Skimming In NYC Accusation and charges of equity skimming can additionally cause federal felony charges, and the intense, extensive, and intrusive criminal prosecution could leave one sentimentally shattered. One might get jail penalties and also substantial compensatory and/or punitive financial damages if found guilty in the case. The right assistance from the known NYC criminal defense legal representative Joseph Potashnik will assist you in the proper direction and keep the situations in check. What you need at this moment is the best staff of Mortgage Fraud Attorneys. The 1st consultations are cost-free and secret.

  7. As Equity Skimming In NYC Joseph Potashnik & Associates 111 Broadway Suite 1305 New York, NY 10006 (212) 577-6677 http://www.jpdefense.com/

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