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Deadline Nears for Foreclosure Claims for Iowans
DES MOINES, Iowa (AP) - Iowa officials are reminding some homeowners affected by foreclosure to submit a claim for compensation from a national settlement.
Attorney General Tom Miller says borrowers have until Jan. 18 to file a claim under a national mortgage settlement worth $25 billion. More than 11,000 Iowa homeowners who lost their property between 2008 and 2011 are likely eligible.
Miller says more than half of the qualified borrowers that were notified in September have filed claims.
Eligible borrowers had mortgages with the five largest servicers in the country. The settlement sets aside money for borrowers whose foreclosure proceedings may have been mishandled.