Thousands of Iowans across the state might be eligible for one-time payment for homes that went into foreclosure.
The more than 11,000 Iowa borrowers who lost their home to foreclosure between January 1, 2008 and December 31, 2011 are likely eligible for a payment under the $25 billion national mortgage settlement that Attorney General Tom Miller announced last February.
With the deadline fast approaching on January 18, those who qualify should make at least one of the following claims through a simple form: they were unable to pay; their mortgage servicing company mishandled the process involving their loan modification or foreclosure alternative; or the servicer made errors during the foreclosure process.
Iowa borrowers must complete their claim forms and return them as soon as possible by filing them online at www.nationalmortgagesettlement.com. Payment checks are expected to be mailed in mid-2013.
Iowa Mortgage Help
Iowans who are currently behind on their monthly mortgage payment can contact the Iowa Mortgage Help toll-free hotline at 1-877-622-4866, or go to www.IowaMortgageHelp.com. The service is free, and its counselors can help Iowa homeowners identify their most appropriate course of action.