Hundreds of Iowans whose homes were heavily damaged in last year’s flooding may be eligible for more state aid as they wait for possible buy-outs. The Iowa Finance Authority is extending the interim mortgage assistance program another six months.
Tina Potthoff , spokeswoman for the Rebuild Iowa Office, says this could benefit up to 600 homeowners in the state. "The interim mortgage assistance was developed to take away the burden of two mortgages, leaving an impacted homeowner with the responsibility for just one," Pothoff says. "What we’re discovering is that there are still Iowans out there struggling so we want to extend the interim mortgage assistance for them."
She says homeowners who qualify will continue to receive up to one-thousand dollars a month to cover their mortgage, property taxes or insurance. "We just want to make sure that we’re doing everything possible to keep people from, number one, foreclosing or, number two, being in a bad situation as they wait for a buyout to occur."
Potthoff says some of the 600 who originally qualified for the money may not be eligible for additional assistance if they’ve already moved back into their homes. The money for the extension comes from the state but has already been doled out to the local communities. It was part of a $54-million disaster aid package approved by the legislature in February.