DES MOINES, Iowa (AP) — A report by the country’s five largest mortgage providers says Iowa homeowners have received nearly $40 million in relief through a national settlement.
Iowa Attorney General Tom Miller says in a Thursday news release that the report by an independent monitor shows more than 1,100 homeowners in the state have received money under the national mortgage settlement.
The average amount of assistance for an Iowa borrower is about $33,200, which was received between March and June of this year.
The report says 240 Iowa homeowners have refinanced their mortgages, with an average rate reduction of nearly 3.5 percent.
More than 640,000 borrowers nationally have received more than $51 billion in mortgage relief through the settlement.