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Home / IA: Foreclosure Hot Line Stays BusyIA: Foreclosure Hot Line Stays Busy
Last Updated on Friday, 26 October 2007 12:17 Written by rslcpol Friday, 26 October 2007 09:52
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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