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Mortgage Help for Flood Victims Posted 13 July 2008 Eastern Iowa disaster victims who are having problems paying their mortgage should call Iowa Mortgage Help for free, confidential assistance, Attorney General Tom Miller said Thursday in Cedar Rapids. Iowans can reach Iowa Mortgage Help at the toll-free number -- 877-622-4866 -- or by visiting the website, www.IowaMortgageHelp.com. “Iowa Mortgage Help can provide help to any Iowan who is fearful of facing a mortgage foreclosure,” Miller said. “If you lost your home in the flood, and can’t pay both your mortgage and your rent, you should call. If you lost your job and can’t make your mortgage payment, you should call. This free call could save your home.” Miller said that his office established the hotline last fall to help Iowans who were facing foreclosure in the national housing crisis. But he stressed that the program also can help people who are facing mortgage problems as a result of floods and tornadoes. “The key idea is that if you think you can’t make your mortgage payment, Iowa Mortgage Help may be able to help you,” Miller said. “The sooner someone calls, the better the chance we can help.” Iowans who call the Hotline will talk to operators who will gather basic data and then refer the callers’ cases to one of the local counseling agencies that are part of Iowa Mortgage Help. Certified counselors at those agencies then will gather more in-depth financial information and will determine the level of assistance needed. If a caller’s situation only requires fairly basic counseling, such as help with managing personal finances, the case will be handled by the local counseling agency. If a caller's situation is more complex -- and requires interaction with the mortgage servicer or lender -- the caller likely will receive further assistance from Iowa Mediation Service to facilitate a loan modification, if possible. The program does not provide cash housing subsides. More than 1,000 Iowans have formally applied for assistance from the program since March. Iowa Mortgage Help is a partnership of the Attorney General’s Office, Iowa Finance Authority (IFA), Iowa Mediation Service (IMS), Iowa Legal Aid and the Iowa Home Ownership Education Project (IHOEP), which represents local counseling organizations.

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