Iowa Sets Up "Foreclosure-Rescue" Hotline; Other States Pursue Rearguard Aid Measures

(LPAC) September 17, 2007--Iowa Attorney General Tom Miller announced last week that his state has set up a telephone hotline to the Iowa Mediation Service for callers desperate over losing their homes. Miller said Iowa ranks fourth among all states in low-end foreclosures, and he wants people to have alternatives to foreclosures. The Iowa hotline is one of many types of actions state-level officials are reverting to, in the absence to date, of Federal intervention to protect homeowners and the banking system of the type advanced by the LaRouche Political Action Committee (LPAC).

A review today by LegalNewsline.com, reports on rearguard actions in several other states, mostly ways to stiffen regulations against unscrupulous lenders, after the damage has already been done.

Texas. Attorney General Greg Abbot has set up a task force to assist regulators to work with law enforcement.

Connecticut Attorney General Richard Blumenthal has filed a major lawsuit against subprime lenders.

Massachusetts Attorney General Martha Coakley is proposing amendments to the state's mortgage lender and broker law, to stop abuses; she is inviting public comment at four local hearings this week. In Worcester, Massachusetts today, representatives of the LPAC LaRouche Youth Movement presented testimony on the "Homeowners and Banks Protection Act of 2007" national legislation, and the growing demand to enact it.