Cedar Rapids Legal Blog | Brady & O'Shea, Iowa Attorneys at law

Iowans Deserve More From Their Banks During Tough Times

Many Iowans have lost their jobs due to the economic crisis and are now facing losing thier homes. Banks, despite receiving billions of dollars in bail-out money intended not only to help the banks but to allow the banks to help struggling home owners are now unwilling to help Iowans through loan reformation and are instead rushing through foreclosures using fraudulent and deceptive legal practices. Iowans deserve more from their banks.

Iowa Attorney General Requests a Halt to Foreclosures

Iowa Attorney General Tom Miller has called on three major mortgage companies to halt pending foreclosures in Iowa.  His office has been in contact with three companies, Ally Financial, formerly GMAC Mortgage, Bank of America and JP Morgan Chase, requesting that they suspend pending foreclosure proceedings in the state. 

On September 24, Miller's office announced that it was investigating Ally Financial after being informed that in a number of foreclosure cases affidavits submitted by the company were not based upon personal information as required by Iowa law.  Since this announcement, other lenders have publicly disclosed that they have routinely submitted unverified foreclosure affidavits in Iowa and elsewhere.    

If you believe that you have been subjected to such improper foreclosure practices, contact the lawyers of Brady & O'Shea at (319) 866-9277 or call the Iowa Attorney General's Consumer Protection Division at 1-888-777-4590.    

President Obama Declines to Sign Bill Designed to Speed Up Foreclosures

President Obama has decided not to sign a bill intended to speed up foreclosures being processed by state and federal courts.  The bill would have required state and federal courts to recognize documents that were notarized in other states.  Various housing advocates and attorneys warned that the billl might have made it more difficult to challenge the legitimacy of foreclosure records at a time when reports of improper foreclosures are on the rise.  

If you believe that you have been subjected to improper foreclosure practices, contact the lawyers of Brady & O'Shea at (319) 866-9277.