570 Iowans see mortgage relief under settlement
DES MOINES, Iowa (AP) — More than 570 Iowa homeowners have received mortgage relief including loan modifications and refinancing worth more than $19 million as part of a settlement with the nation's five largest mortgage banks.
Iowa Attorney General Tom Miller says another $7 million will go to Iowa borrowers who lost their homes to foreclosure between January 2008 and December 2011 if their loan was serviced by one of the five providers.
The relief is part of a $25 billion national settlement with JPMorgan Chase & Co., Bank of America Corp., Citigroup, Wells Fargo & Co., and Ally Financial.
Miller released the figures Monday as part of a progress report on the settlement with the banks.