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IA: Foreclosure Hot Line Stays Busy

Democrat A.G. Tom Miller saw an issue and got in front of it. Watch for his next step on the foreclosure front – likely pursuing lenders across the country – and look for other Dem A.G.s to pile on – regardless of whether or not there’s a problem in their state.

Iowa’s foreclosure hot line has been swamped with calls as owners of houses worth as much as $500,000 have asked for help in modifying their mortgages.Mike Thompson, executive director of the Iowa Mediation Service, said he expected that most people who called would be carrying mortgages of $70,000 to $90,000. Instead, he said the average seems to be between $120,000 and $150,000, with at least one dwelling reaching almost $500,000.

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3 Comments

  1. Comments  State News Shot » NY: AG Sues For Subprime Behavior   |  Friday, 02 November 2007 at 2:59 pm

    […] it’s begun. You heard it hear first that home mortgage issue was going go national.  New York is always one of the first to jump. […]

  2. Comments  State News Shot » MI: AG Announces Foreclousure Forum   |  Thursday, 29 November 2007 at 12:53 pm

    […] told you first here, to watch this issue blossom across the country. And it has in Maine with AG Steven Rowe, Iowa with […]

  3. Comments  State News Shot » States Move For Mortgage Aid   |  Monday, 07 April 2008 at 10:47 am

    […] been telling you about the guaranteed growth of this issue since last October. State governments are acting more aggressively to help homeowners avoid foreclosure, frustrated by […]

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