Iowa homeowners who lost their houses to foreclosure due to financial difficulties may actually buy their home back after it is sold to foreclosure within a certain period of time, according to a Nolo article.
Depending on the foreclosure procedure, Iowa homeowners may actually buy back their foreclosed homes. If the foreclosure is “judicial,” homeowners may reclaim their foreclosed house within one year, according to the Iowa Code 628.3. However, under Iowa Code 628.26, homeowners whose properties are less than 10 acres may buy back their house within six months if their lenders waives the deficiency. The redemption duration is further decreased to 60 days if the homeowner abandoned his or her property, and it is on fewer than 10 acres of land.
The Cedar Rapids lawyers of Hong Law, PLC, can help you understand your best options for defending against foreclosure in your particular circumstances. Call our offices at (319) 294-5853 today to begin taking action to save your home.
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