Borrowers Still Bounced Around

Photo: clipart.com

Borrowers Still Bounced Around

Iowa officials are back in talks with the nation’s top home mortgage companies, seeking better treatment for homeowners facing possible foreclosure. Under terms of last year’s settlement, Wells Fargo, Bank of America and others agreed to assign a single employee to each borrower seeking a loan modification to help cut through the red tape. Iowa Attorney General Tom Miller says in many cases, borrowers are still being bounced around.

Other mortgage companies involved include J-P Morgan Chase and Citigroup. Another part of the agreement was that the companies would stop foreclosure proceedings once a homeowner has finished the paperwork for a loan modification. Instead, Miller says the banks are asking for more information.

The new protections for borrowers are part of a 25-billion dollar settlement reached with the banks in an investigation of shoddy loan foreclosure practices.

Recent Headlines

in Local

Another Winter Storm Moving into the Northern Plains


Another winter storm will move into the area Sunday night through Tuesday.

in Local

Facade Improvement Program Approved for Downtown Yankton

Amy Nelson 122013

The Yankton City Commission approved a façade improvement program for the downtown business area at their last meeting.

in Local

Alzheimer’s Cost to Climb in Iowa

medical file

A new report projects the expense to Medicaid for people afflicted with Alzheimer’s disease in Iowa and nationwide will increase dramatically over the next decade.

in National

Trump drops 12 points in poll: Reuters/Ipsos


Donald Trump's support among Republicans has dropped 12 points in less than a week according to a Reuters/Ipsos poll.

in National

Police name suspect in Colorado Springs shooting


Police on Saturday identified the suspect in a deadly shooting at a Planned Parenthood clinic.