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Posted By admin On @ 9:19 am In Today's Local News | Comments Disabled
State Representative Larry Marek is backing a plan to prevent foreclosures on Iowa homes. Four proposed bills deal with the subject. One would make it illegal for bankers or brokers to mislead borrowers or make false statements. They also would not be able to charge fees for loans that don't materialize, or accept undisclosed compensation for their service. Another bill would mandate that homeowners are given the number to a foreclosure hotline at the beginning of a foreclosure. Finally the foreclosure on homes of military reserve member or their family while serving on active duty would be prohibited.
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