Stop Foreclosure in Iowa


How to Stop Foreclosure in Iowa

There are several ways on how you can end your troubles with foreclosure and although you might think that doing this is impossible, there are actually a lot of ways out there to prove to you otherwise. For one, the steps that you will be able to read on can make you realize that there is actually some truth to this statement.

The first and probably the most important thing that you have to do would be to contact your attorney and inform him or her about the situation that you are currently in. This simply means that you need to be able to understand first the specifics when it comes to addressing the issue of foreclosure based on the terms of the law. Knowing this would help you understand on how you can actually get rid of all the trouble.

The next thing you can do would be to check out the website wherein information about your state’s judicial system is reflected upon. This will give you more ideas and would further widen your horizons when it comes to addressing the issues on hand.

Then you have to be able to determine whether or not you have enough grounds to file for a motion to dismiss. If you have, then the bank can produce a note for you that states this kind of information. Otherwise, you might need to engage yourself in other legal ways. Check out the terms of your mortgage and figure out the loopholes in the situation and have these things addressed too before it is too late.

When you have written a motion to dismiss, don’t forget to file it in court and be consistent with your appearance. Make sure that you are able to do this just within 30 days or less after receiving such type of information.

Synopsis of Iowa Foreclosure Laws

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: No

Primary Security Instruments: Mortgage

Timeline: Typically 150 days

Right of Redemption: No

Deficiency Judgments Allowed: No

In Iowa, lenders may foreclose on a mortgage in default using either the judicial or the alternative non-judicial foreclosure process.

Judicial Foreclosure

The judicial foreclosure process is one in which the lender must file a complaint against the borrower and obtain a decree of sale from a court having jurisdiction in the county where the property is located before foreclosure proceedings can begin. Generally, if the court finds the borrower in default, they will give them a set period of time to pay the delinquent amount, plus costs. If the borrower does not pay within the set period of time, the court will then order the property to be sold.

Notice of the sale must be posted in at least three public places of the county, one of which shall be at the county courthouse. In addition, there shall be two weekly publications of such notice in some newspaper printed in the county, with the first publication being at least four weeks before the date of sale, and the second at a later time before the date of sale. If the borrower is in actual occupation and possession of the property, the notice must be served on them at least twenty days prior to the date of the sale.

The sale must be at public auction, between 9:00 am and 4:00 pm and the time must be stated clearly in the notice of sale. The sheriff shall receive and give a receipt for a sealed written bid submitted prior to the public auction. The sheriff may require all sealed written bids to be accompanied by payment of any fees required to be paid at the public auction by the purchaser, to be returned if the person submitting the sealed written bid is not the purchaser. The sheriff must keep all written bids sealed until the commencement of the public auction, at which time the sheriff will open and announce the written bids as though made in person.

The sale may be postponed, but if it postponed for more than three days, notice of the new sale must be publicly announced at the time the sale was to have been made.

Alternative non-judicial foreclosure procedure

Borrowers in Iowa have the option of avoiding a foreclosure suit by voluntarily conveying all of their rights in the property secured by the mortgage to the lender. If the lender accepts the conveyance from the borrower, they are given immediate access to the property. However, they must waive any rights to file for a deficiency judgment against the borrower.

Additionally, the borrower is required to sign a “disclosure of notice and cancellation”, which states, among other things, that they are voluntarily giving up their rights to reclaim or occupy the property. The borrower and lender must also file a jointly executed document with the county recorders office stating that they have chosen to proceed with the foreclosure using the voluntary foreclosure procedures.

Where to go to for Foreclosure Help

Des Moines Field Office

210 Walnut Street
Room 239
Des Moines, IA 50309-2155

Phone: (515) 284-4512
Fax: (515) 284-4743
TTY: (515) 284-4728

Jurisdiction: State of Iowa

Bruce Ray
Field Office Director

Office Hours: 8:00 a.m. to 4:30 p.m.
Monday through Friday

Stop Foreclosure Early

HALO Capital
814 33rd St.
Des Moines, IA

Wells Fargo – College Square
6309 University Ave
Cedar Falls, IA

Wells Fargo – Cumberland Square
2001 Spruce Hills Dr
Bettendorf, IA

Wells Fargo – La Porte City
508 Hwy 218 N
La Porte City, IA

US Bank – Urbandale Office
(515) 248-7720
3501 NW 86th St
Urbandale, IA

Generation Mortgage Company
800-894-9166 or 712-249-6671
207 7th St
Griswold, IA

US Bank – Southeast Office
(515) 285-1443
6150 SE 14th St, Suite A
Des Moines, IA

US Bank – Clinton County Office
(563) 243-8500
405 S 3rd St
Clinton, IA

US Bank – Clinton Lyons Office
(563) 244-8320
2300 N 3rd St
Clinton, IA

US Bank – Chariton Drive-Up Office
(641) 774-2176
926 Court Ave
Chariton, IA