Eligible Iowa homeowners who filed valid foreclosure claims will receive payment checks, the attorney general’s office said on June 4.

Payments worth $1,480 will be mailed to 6,051 eligible homeowners whose mortgages were serviced by one of the five National Mortgage Settlement participant servicers. The five banks are Bank of America, Citi, JP Morgan & Chase, Wells Fargo, and Ally. Eligible homeowners submitted a valid claim and had their home foreclosed between January 2008 and December 2011.

The foreclosure checks are part of the $1.5 billion that was negotiated in the national settlement.

Facing the loss of your home is frightening and stressful. Our lawyers at Hong Law, PLC, understand this and, as such, work to help homeowners in Cedar Rapids take action to potentially prevent this action. Call (319) 632-1400 today to discuss your financial situation with us..