LOS ANGELES BANKRUPTCY BLOG
Man Pleads Guilty in California Foreclosure Rescue Scam
Jan 25, 2012
California's foreclosure crisis has had thousands of owners of distressed properties and defaulted home loans struggling for help to keep foreclosure at bay. Unfortunately, this has fostered an environment that’s ripe for foreclosure rescue scams to thrive. One such scam in Southern California, which had been linked to a Texas man, has ended with his guilty plea.
The man, Frederick Alan Gladle was charged with at least one corporate bankruptcy fraud and one count of aggravated identity theft in December. According to the charges against him, he operated a foreclosure rescue scam in Southern California beginning in October 2007 right through 2011. He scammed a total of $1.6 million in fees paid by owners of distressed properties. Gladle has admitted to all of this.
Gladle was able to operate the scam for as long as he did using a number of aliases. He used a total of 5 aliases, and in at least one of these instances, he stole the identity of another person. He then went in search of homeowners whose properties were in danger of foreclosure. He promised these people that he could get their foreclosure delayed for up to 6 months. In return, he asked for payments of approximately $750 per month.
It can't be stressed enough - when you are facing foreclosure, it's best to seek the advice of a qualified California foreclosure lawyer, who has experience handling these situations. A foreclosure attorney can help you retain your home, or at least minimize your mortgage debt without the need for filing for personal bankruptcy. There are several alternatives to foreclosure, and many homeowners, as California foreclosure attorneys find, are not aware of these, and as a result, they get sucked into various scams.
