If a lender decides to foreclose an Iowa home without redemption, its owner may still have the chance to reclaim their property in certain circumstances.
Homeowners whose homes are “foreclosed judicially without redemption” may demand to delay the sale of their home. Failing to file a written demand will put the home immediately into sale. Homeowners who demand to delay the sale of their home may be given up to 12 months to reclaim their home. However, homeowners are only given up to six months to redeem their home if the petition has a “right to deficiency judgment” waiver. Homeowners also may recover their home if they immediately settle their debts to their lenders.
Facing foreclosure is frightening, especially if you do not understand the legal process. However, if you are experiencing this in Cedar Rapids, the lawyers of Hong Law, PLC, may be able to help you. Speak with us today at (319) 294-5853 to find out how we may help you defend your home from foreclosure.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office