If a mortgage foreclosure is underway
Yes, a sale may still be possible if the payoff or redemption amount can be paid in time. Iowa home mortgages are generally foreclosed through a court case, and a court judgment can lead to a sheriff's sale. Keep using the date on your current notice until the court or sheriff confirms a change; have a title company or attorney confirm the current deadline and amount needed.
Our agreement of sale will often get a sheriff's sale postponed so we can close. Signing alone doesn't postpone it automatically; we use the agreement to ask for the postponement, and it works more often than people think.
For an occupied one- or two-family home, most lenders must give the owner a notice with 30 days to cure the default before suing and tell the owner that counseling and mediation are available. A sheriff's sale must be posted and published, with the first publication at least four weeks before the sale. Any post-sale redemption period depends on the foreclosure procedure; some procedures have shorter periods, and foreclosure without redemption for nonagricultural property has no post-sale right to redeem.
