News Updates

Tolleson does not offer mortgage-reduction programs, reduced interest rates on mortgages or any other service of that sort. So if someone saying they are from the city calls offering mortgage help, hang up immediately. Loan-modification scams are proliferating as the recession lingers and more Valley homes are foreclosed. Scammers are charging large fees to help...
Read more »

Jose Vega was on the phone with JPMorgan Chase in April negotiating a loan modification when a real estate agent knocked on the front door of his Pittsburg house and said it had been repossessed in foreclosure a day earlier. “I literally handed the phone to him and said, ‘Why don’t you tell this guy...
Read more »

All Orlando Eslava wanted from his lender was a loan modification to make his payments affordable. Instead, he got his $207,000 mortgage wiped out — and a crash course in the confusing way foreclosures are unfolding in a court system chock-a-blocked with cases. The teacher was Miami-Dade Circuit Court Judge Jennifer Bailey, who cancelled...
Read more »

Troubled Borrowers Get Booted from Mortgage Modifications Homeowners who had trouble keeping up their mortgages found that they’d had their loan modifications canceled in April under the HAMP program because they were unable to make their adjusted payments or disclosed false information regarding their income. With more than 122,000 borrowers having their trial modifications canceled and...
Read more »

Private mortgage insurer Genworth Financial helped prevent almost $3.4 billion in mortgages from going into foreclosure in the 12 months ending March 31, the company reports in its first-quarter Foreclosure Prevention Scorecard. Genworth says it worked with servicers to complete more than 23,000 loan workouts through its homeowner assistance program, resulting in home retention...
Read more »