Section 655A.1 – Title.

655A.1 Title. This chapter shall be known as the “Nonjudicial Foreclosure of Nonagricultural Mortgages”. 87 Acts, ch 142, §17

Section 655A.2 – Conditions prescribed.

655A.2 Conditions prescribed. Except as provided in section 655A.9, a mortgage may be foreclosed, at the option of the mortgagee, as provided in this chapter. 87 Acts, ch 142, §18

Section 655A.3 – Notice.

655A.3 Notice. 1. a. The nonjudicial foreclosure is initiated by the mortgagee by serving on the mortgagor a written notice which shall: (1) Reasonably identify by a document reference number the mortgage and accurately describe the real estate covered. (2) Specify the terms of the mortgage with which the mortgagor has not complied. The terms […]

Section 655A.4 – Service.

655A.4 Service. Notice under this chapter shall be served as provided in the rules of civil procedure for service of original notice or as provided in section 654.4A. Rejection of notice under this chapter shall be served by ordinary or electronic mail addressed as provided in the notice, or if no address is provided, to […]

Section 655A.5 – Compliance with notice.

655A.5 Compliance with notice. If the mortgagor or a junior lienholder performs, within thirty days of completed service of notice, the breached terms specified in the notice, then the right to foreclose for the breach is terminated. 87 Acts, ch 142, §21 Referred to in §655A.8

Section 655A.6 – Rejection of notice.

655A.6 Rejection of notice. 1. If either the mortgagor, or successor in interest of record including a contract purchaser, within thirty days of service of the notice pursuant to section 655A.3, files with the recorder of the county where the mortgaged property is located, a rejection of the notice reasonably identifying the notice which is […]

Section 655A.7 – Proof and record of service.

655A.7 Proof and record of service. If the terms and conditions as to which there is default are not performed within the thirty days, the party serving the notice or causing it to be served shall file for record in the office of the county recorder a copy of the notice with proofs of service […]

Section 655A.8 – Effect of foreclosure — reopening.

655A.8 Effect of foreclosure — reopening. Upon completion of the filings required under section 655A.7 and if no rejection of notice has been filed pursuant to section 655A.6, then without further act or deed: 1. The mortgagee acquires and succeeds to all interest of the mortgagor in the real estate. 2. All liens which are […]

Section 655A.9 – Application of chapter.

655A.9 Application of chapter. This chapter does not apply to real estate used for an agricultural purpose as defined in section 535.13, or to a one or two family dwelling which is, at the time of the initiation of the foreclosure, occupied by a legal or equitable titleholder. 87 Acts, ch 142, §25; 2006 Acts, […]