Iowa Foreclosure Law

Facts:

Judicial Foreclosure Available:     Yes

Non-Judicial Foreclosure Available:       No

Primary Security Instruments:      Mortgage

Timeline:     Approximately 150 Days

Right of Redemption:       No

Deficiency Judgments Allowed:       No

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Quick Summary:

In Iowa, lenders may foreclose on mortgages in default using a judicial foreclosure process. 

 

The foreclosure timeline in Iowa is approximately 150 days from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.

Iowa borrowers do not have the right of redemption and are not allowed deficiency judgments.

New Information on Iowa Foreclosure Laws and regulations:

1) Requires the creditor to give the borrower a 14-day demand for payment period after any cure period if creditor seeks an award of attorney fees. 2) requires creditor to notify borrower of the availability of mortgage mediation assistance before commencing a foreclosure action, and 3) changes the text of notice to judgment creditor. To view bill Iowa SF 364 click here

For more information on Iowa Foreclosure laws and regulations visit  http://www.ncsl.org/public/leglinks.cfm and click on your state.

Or Contact:

Iowa's Attorney General's Office
Hoover Building, 2nd floor
Des Moines, IA 50319
Ph: (515) 281-5164
Fax: (515) 281-4209