Legal Question in Consumer Law in Iowa
We have a right of redemption in our mortgage contract. A redemption period of 1 yr. The lender is foreclosing without a redemption period.. My question is, if it is in our mortgage note, how can they ask for no redemption. It would seem that is a contractual issue and should be not allowed... How can they change or do, what is written in our contract?
Asked on 10/07/11, 6:22 am
1 Answer from Attorneys
Robert Luedeman
solo practitioner
Foreclosure without redemption is allowed in the Code. If you want to argue the issue you're going to have to hire an attorney. Or, as is likely, you must assert your right of redemption under the code chapter 623.20 et seq.
Answered on 10/08/11, 7:30 am
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