California Real Estate Fraud Report

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Las Vegas Man Indicted in Alameda Co. for Mortgage Rescue Fraud

A Las Vegas man has been indicted in the East Bay county of Alameda for fleecing distressed homeowners in a mortgage rescue fraud that was unbelievable but still snared customers.

Alan David Tikal’s alleged mortgage rescue scam was to promise that he could “reduce the specific debts by 75 percent” of the borrower’s mortgage using his firm KATN Trust. KATN Trust would pay off the mortgage and refinance the home at a savings of 75 percent. He charged upfront fees of anywhere from $1,000 – $2,000 for this “service.”

In the case of one borrower, Tikal recorded that the home had been paid off in Los Angeles County but the lender refused to accept the document. In another case Tikal is alleged to have not paid off the mortgage.

Tikal recruited real estate agents from several states to find his alleged victims.

Alan David Tikal has been charged with conspiring to commit real estate fraud, mortgage security fraud and filing false documents.

Read the original article on 7 On Your Side.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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