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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31787
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Customer Question

How much time do we have to move our possessions from our home after a forecloser sheriff's sale? We have one scheduled on 2-7-2012 and likely will not have time to get bankruptcy started. We live in the state of Iowa.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 5 years ago.

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.


Iowa has a statutory redemption period for 6-12 (6 months if the lender waives the right to collect the deficiency and 12 months if the lender doesn't waive the right to collect the deficiency) months from the date of the foreclosure sale. You're allowed to remain in the property during the redemption period.


Thus, you have a decent amount of time after the sale to vacate the property.

Customer: replied 5 years ago.

Is this soley a Judge's decision? Can they choose to lock us out or take our property to the curb with out notice?

Do I need to be prsent at the courthouse for the sale to plead for time to vacate?


Expert:  Roger replied 5 years ago.
You're entitled to stay in the property during the redemption period.

I would recommend that You appear to discuss the redemption period and whether the lender will seek a deficiency.
Roger and other Bankruptcy Law Specialists are ready to help you
Customer: replied 5 years ago.

The sale is not availible for redemption. We now have info that the vacate date could be as short as 30 days.

Does this sound accurate?


Expert:  Roger replied 5 years ago.
Pleas let me know if you have any additional questions.