Thousands of people across the state are struggling with their mortgage, and Iowa has programs that provide mortgage help and that can also even stop or prevent a foreclosure filing. The various programs were started back in 2007, so they have been in place for a few years. Many of the services and resources offered are free to homeowners across the state.
The state established a hotline for people to call when they need help with paying their mortgage. Homeowners need to explore their options as soon as they think they may struggle with a payment. They should not wait until they are behind or miss payments before asking for assistance. Often times by then it is too late.
The hotline is toll free, and the number is 877-622-4866. You will be referred to a mortgage counselor and they will review your situation and financial condition. The counselor will work closely with you, and they may decide to refer you to another private or government agency that would better be able to help you with issues such as personal finances, credit card debt, and budgeting. These skills will go a long way towards putting you in a position in which you can pay your mortgage in full and on time, and prevent a foreclosure filing. In addition, depending on your situation and financial condition, the Iowa mortgage counselor may help you come up with an implement a plan to reduce or settle your debt, repair credit scores, and more. Many of the services are offered at no cost to borrowers.
If you condition is more serious, they may refer you to the mediation process.
Iowa has also implemented a voluntary mediation program. A homeowner will be put in touch with a neutral third party to explore solutions to their foreclosure problem. Both the lender and homeowner need to agree to participate. Learn more on the program.
Individuals in Iowa who have lost their job or had a reduction in income may be able to receive help with paying their mortgage. The federal government has provided grants and other aid to Iowa to fund this resource. Click here to learn more about this assistance program.
Homeowners across the state can receive foreclosure and housing counseling from several non-profit organizations. These HUD certified organizations were approved by the federal government to provide housing solutions to people who need help. More on Iowa foreclosure counseling agencies.
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