Iowa’s mortgage help hot-line will stay up and running throughout this year. The hot-line is a joint effort by the Attorney General’s office and the Iowa Finance Authority. Assistant Attorney General Patrick Madigan encourages people use the hot-line as he says national research shows 50% of those who’re in trouble never ask their lender for help.
Madigan says they want to stress that this is free and confidential and you can trust it. Madigan says callers can be referred to one of eight regional counseling agencies. Madigan says that’s all some people need, help with their finances, but others might need help restructuring or modification their mortgages. He says they will send those people to Iowa Mediation Services, another partner.
Madigan says that organization works with homeowners and lenders. He says the mediation service will help people work out a modification with the mortgage servicer or lender. Madigan says over 5,000 people have asked for help since the hot-line began nearly a year ago. You can call toll-free 877-622-4866 or go on-line to the Iowa Mortgage Help website ..
