Iowa homeowners have received nearly $32 million in relief on their mortgages as the result of a settlement last year that resulted from an investigation into questionable practices by the largest home loan servicers, Iowa Attorney General Tom Miller said today in a news release. 

A progress report from the settlement monitor shows that the five servicers have worked out settlements with 956 Iowa homeowners. Another 102 homeowners are in trial loan modifications worth $1.7 million. 

The average reduction per borrower was $33,321; 454 homeowners received principal reductions, while 204 refinanced their mortgages at lower interest rates, resulting in a $7.9 million savings in finance charges. 

Miller led the investigation, which resulted in settlements with JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc. 

The settlement figures were self-reported by the lenders. 

Miller said people who are currently behind on their monthly mortgage payments, or who may soon experience financial trouble, should contact the Iowa Mortgage Help Hotline 1-877-622-4866 or