Nations Housing Modification Center
Scam

The group behind an alleged loan modification scam first reported by the 10News I-Team faces new charges after a secret indictment was unsealed.

In the federal indictment, Mike Trap is accused of being the "money guy" behind Nations Housing Modification Center. The center's loan modification scam duped customers into paying upfront fees for loan modifications that never happened, according to federal prosecutors.

The group's official-looking mailings claimed a Pennsylvania Ave. Address in Washington, D.C., but the I-Team learned it was only a post office box.

Last summer, the I-Team discovered Nations Housing was really operating out of a San Marcos building. Company managers did not want the I-Team there and even called a shredding company after the I-Team's unannounced visit.

"They're totally illegitimate crooks, " said one alleged victim.

The unsealed federal indictment also detailed how the sales pitch for Nations Housing was a lie. It claimed lawyers were on staff, but "there were no attorneys or forensic accountants" to aid customers. Also, the group said only a few customers qualified for loan modifications but they "accepted anyone who could pay the fee, " according to the indictment. The group claimed success with modifications, but they had "not modified any mortgage loan."

Trap tried to hide on the day the I-Team visited. Now, he and partner Glenn Rosofsky have been named in the federal case. They are accused of preying on the desperate for a $900,000 windfall.

Company: Nations Housing Modification Center
Country: USA

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