Iowa Gov. Chet Culver signed into law on April 9 a new bill that prolongs the period before the sheriff’s sale of a property can commence from six days to 60 days. The bill also allows the lender to unilaterally rescind a foreclosure if it so chooses.
Additionally, the bill requires creditors to give written notice to borrowers of the availability of mortgage counseling and mediation. The Iowa Mortgage Help Line is currently run by the state Attorney General’s office and the Iowa Finance Authority.
Source: DesMoinesRegister.com