Iowa Mortgage Help
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"After I was laid off from my job and I had my first child, I knew I
was in a bad position. When my lender started foreclosure proceedings,
Iowa Mortgage Help got involved. The process was very smooth and my rep
stayed in contact with me, and even afterward called to make sure everything
was going okay."
-- Zakiya Jenkins
"In August 2006, my husband and I were notified by the mortgage company
that our rate was going to adjust. I contacted them about locking in a
rate, only to be told that they wouldn't be able to help. Our house
payment went up $700/month. We struggled to put gas in our vehicles to
get to work and to buy groceries. Then, a friend gave me the number to
Iowa Mortgage Help. We are convinced that without the vast knowledge and
assistance of Iowa Mortgage Help, we would have lost our home."
-- John & Andrea Davison
"I don't know what I would have done without the help of Iowa Mortgage Help. After a long and expensive battle with medical bills, I faced foreclosure of a home that has been in my family for over 100 years. I was finally able to get a successful loan modification and a payment I can afford in order to take care of my home. I'd have lost everything if it wasn't for their assistance."
-- Rebecca Swyers
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National Mortgage Settlement - At a Glance
Iowa Attorney General Tom Miller recently announced a landmark $25 billion national joint federal-state settlement involving the nation's five largest mortgage servicers. The settlement addresses mortgage foreclosure abuses, fraud and unacceptable nationwide mortgage servicing practices.
What this means for Iowans:
To be eligible to benefit from the settlement, Iowa homeowners mortgages must be serviced by one of the participating banks listed below.
- Bank of America
- Citi
- Chase
- Ally (formerly known as GMAC)
- Wells Fargo
- Loan modifications:
- Past Foreclosures:
- Refinancing opportunities:
- Direct payment to the State of Iowa to assist Iowa homeowners:
- Help for Homeowners:
Modifications relief could include significant principal reductions for borrowers that owe more than their homes are worth and are either delinquent or at imminent risk of default or foreclosure.
Iowa homeowners who lost their home to foreclosure from January 1, 2008 through December 31, 2011, and encountered servicing abuse may qualify for this assistance. Average payments to homeowners under this benefit are expected to be approximately $1,000-$1,500. $1,500-$2,000
Refinance relief could be available for Iowa homeowners who are current on their mortgages but owe more on the mortgage than their home is worth.
These funds will be used for foreclosure prevention initiatives including counseling, mediation, legal aid and future related initiatives to assist Iowa homeowners.
A new tool is now available to eligible homeowners through the Emergency Foreclosure Assistance Fund. This fund may assist homeowners in filling gaps to make their mortgage payment with up to $2,000 in assistance.
Next step for Iowa homeowners:
Iowa homeowners who may be eligible for the settlement benefits or who are at-risk of foreclosure should contact Iowa Mortgage Help (IMH) at 877-622-4866 or visit www.IowaMortgageHelp.com for assistance with the settlement benefits and free, confidential mortgage counseling.
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