What the Foreclosure Settlement Means for Iowa

Foreclosure CrisisIowans are expected to get $40 million as part of a national mortgage lenders deal worth $25 billion announced Thursday.

Iowa Attorney General Tom Miller was at the news conference in Washington on Thursday morning.

Federal officials said the five largest mortgage lenders reached the $25 billion settlement with 49 states over foreclosure abuses that took place after the housing bubble burst. They will have three years to fulfill the terms of the landmark deal announced Thursday morning.

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