For a recent report on mortgage fraud, FOX4 reporter Lori Brown turned to FBFK’s Steve Toland for legal analysis. A veteran white collar and criminal defense lawyer who leads FBFK’s Austin office, Toland provided analysis of policies and regulations for VA loans, which were created to provide opportunities for military veterans to own homes.

 

A FOX4 investigation raised questions about one veteran who had obtained a VA loan to purchase a home as a primary residence but who was instead using it to generate revenue as a short-term rental.

 

“[A VA loan] is strictly intended to help service members buy a home, live in that home, and if they agree to do that, they will get the benefit of waiving the closing costs, and down payment,” Toland told FOX4. “But if you don’t follow those rules, you should not get that benefit.”

 

“If a veteran applied, misrepresented that they were going to maintain residence, knowing that they were not…that is a crime. They can be charged at the state level and federal level,” he added.