Using the pinned topic above, I have a couple questions about Iowa foreclosure law and process. I want to make sure I understood what I was reading correctly.

One, Does 'timeline' mean a person can reasonably expect 150 days before being evicted? !50 days from what? Last payment? Paperwork being filed? (I understand 150 days is just a guess, but is probably based on common experience)

Two, I'm also presuming the timeline is for judicial foreclosures only.

Three, since the non-judicial option gives the lenedr immediate access, I'm presuming the person must vacate immediately, but they also would not be liable for any deficiency on the loan, whereas in the judicial foreclosure they may be liable for any deficiency.

Am I reading these correct?

Thanks.

No one? Anyone?

From the information on that website, I'd say that definitely, based on the non judicial forceclosure, there is not a right to a deficiency balance on behalf of lender.

As far as immediate access, not sure. Ok. Just found this too.

http://www.877youkeep.com/Iowa-Foreclosure-Law

Now whether this is real Iowa statute, I don't know, but this is what is says.

Basically, if you agree to the non judicial foreclosure, you give immediate occupancy to the lender. But as a side note, this seems negotiable? Because this is an agreement between parties, I'd guess that a homeowner can negotiate to vacate premises in XX amount of days with everything intact, etc. You get my drift.


Wow! I just found this:

http://www.foreclosure-support.com/foreclosure-laws/iowa.htm

While this isn't actually formal Iowa statute, it is confusing to say the least. Now wonder you're confused!!!!

About the timeline, it IS confusing and doesn't specify.............

Although is does say about 30 days at default or some such the process begins. I recall reading something about a 90 day issue with respect to bankruptcy. Perhaps that's where the timeline begins? 30+90+20 (20 day notice to sale to borrower-the bare azz minimum?).