In Iowa, people who lose their homes to foreclosure have a right to recover their property through “statutory right of redemption” law.
Under statutory right of redemption borrowers are given a right to reclaim their house after foreclosure. To make it possible, borrowers need to settle the full amount they defaulted and its additional costs. Under Iowa law homeowners are given 365 days to recover their house. However, the redemption period in Iowa shortens to six months or even 60 days depending on individual circumstances.
If your property is being threatened by foreclosure, working with an experienced lawyer is important to avoid losing your home. If you are in such a situation in Cedar Rapids, the attorneys of Hong Law, PLC may be able to help you. Call us today at (319) 294-5853 to learn more about your legal options.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office