Deadline Nears for Foreclosure Claims for Iowans

In this Sept. 21, 2010 photo, a sign stands in front of a new homes for sale in a West Des Moines, Iowa, neighborhood. Sales of new homes improved last month after the worst summer in nearly five decades, but not enough to lift the struggling economy. (AP Photo/Charlie Neibergall)

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By Adam Carros

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.

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