December 2010 Consumer Advisory
Mounting Mortgage Payments? Call the Iowa Mortgage Help Hotline!
If you can’t make payments or face foreclosure, there’s free help
been a lot in the news lately about foreclosures, and the Attorney
General’s efforts to look into many foreclosure practices. If you
are struggling to pay your mortgage, you’re falling behind on payments
or you face possible foreclosure, don’t wait for news to happen – ACT
NOW before it’s too late!
The Iowa Mortgage Help
Hotline is here to help. With one call, trained mortgage
counselors may be able to help identify the best course of action for
many situations. If you risk losing your home to foreclosure, you
should call the Iowa Mortgage Help Hotline at 1-877-622-4866.
It’s free, effective, confidential, and staffed entirely by Iowans
across the state.
The Iowa Mortgage Help Hotline is
a toll-free number answered right here in Iowa. As an independent
third party, Hotline counselors are trained, respectful, and
nonjudgmental. They’ll determine whether borrowers, their lenders
and their loan servicers can find a long-term solution to help you
avoid foreclosure. The Hotline is voluntary for all parties, and
it does NOT offer funds or payments to borrowers.
you call the Hotline, be prepared to provide a complete, honest
explanation of your circumstances. Your straightforward answers
and information will better allow counselors to address your
situation. Hotline counselors will explore whether restructuring
a loan or some other arrangement might benefit both you and the lender.
hurts everyone – borrowers lose their home, lenders incur losses, and
communities suffer. The goal of the Hotline is to put borrowers
and lenders together to find solutions. More than 12,000 Iowans
have filed applications with the Iowa Mortgage Help Hotline.
Who should call the Iowa Foreclosure Hotline?
Call if you are now in foreclosure. Call if you are seriously
behind in payments and are facing default (which can lead to
foreclosure). Call even if you foresee
that you won’t be able to make future payments. The Hotline
cannot help everyone, but trying to save your home is worth the free
phone call. Counselors may be able to help you work through your
mortgage maze and find out if a loan modification or other solution can
work. The sooner you make the call, the more likely the Hotline may be able to help you!
If you think you think you may be a victim of predatory lending,
mortgage rescue scams, or mortgage fraud, contact the Attorney
General's Consumer Protection Division, Hoover Bldg., Des Moines, IA
50319. Call 515-281-5926 or 1-888-777-4590 toll-free, or e-mail firstname.lastname@example.org. On the Web: http://www.iowaattorneygeneral.gov