The most common method of foreclosure in Iowa is called “foreclosure without redemption.” In this type of foreclosure a creditor (usually by the county sheriff) serves notice of the foreclosure following a 30 day notice of the right to cure the default. On the petition of foreclosure there will be in large bold print that the creditor has chosen to foreclose without redemption. This means that once the house has been sold the homeowner cannot “redeem” the property after it’s been sold by the sheriff. A homeowner can request that there be a delay of the sheriff’s sale. The delay will be twelve months unless the creditor has waived its right to a deficiency judgment. If the creditor has chosen to waive any right to get a judgment if the house doesn’t resell for the amount of the loan, then the delay will be for six months. There are some variations on these processes that a mortgage lender might choose so it’s important to contact me immediately if you get served with a foreclosure petition. We can talk about how a Chapter 13 bankruptcy can stop the foreclosure and cure the default.