Iowa Foreclosure Timeline and Laws

Iowa Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you and auction your property at a foreclosure sale.

Iowa foreclosures are conducted by judicial foreclosure proceedings. Iowa does not allow non-judicial foreclosure proceedings.   

Notice Requirements for Foreclosure in Iowa

Foreclosure proceedings are instituted by the lender filing a lis pendens and complaint with the court. Typical notice requirements include posting the notice of sale in three public places in the county, one of which is the courthouse; two publications, the first which must be published at least four  weeks before the date of sale, in the designated paper in the county where the property is located, and personal service of the notice twenty (20) days before the sale.

Iowa Deficiency and Anti-Deficiency Laws

The lender may obtain a deficiency judgment if the property is sold at foreclosure auction for less than the loan amount.

Iowa Redemption Rights

Iowa has a post-sale statutory right of redemption of one year for homestead property.   If a lender waives rights to deficiency, the redemption period is six months. The redemption period on abandoned property can be shortened to sixty days.

Iowa Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Iowa Foreclosure Avoidance Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

Iowa foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.