Bill Text: IA HF477 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A bill for an act relating to the mortgage foreclosure and real estate protections for certain military service members.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-03-05 - Subcommittee, Cownie, Oldson, and Soderberg. H.J. 479. [HF477 Detail]
Download: Iowa-2015-HF477-Introduced.html
House File 477 - Introduced HOUSE FILE BY KELLEY A BILL FOR 1 An Act relating to the mortgage foreclosure and real estate 2 protections for certain military service members. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 2485YH (1) 86 jh/sc PAG LIN 1 1 Section 1. Section 29A.103, subsection 1, Code 2015, is 1 2 amended to read as follows: 1 3 1. The creditor of a service member who, prior to entry into 1 4 military service, has entered into a mortgage contract with the 1 5 service member for the purchase of real or personal property 1 6 shall not foreclose on the mortgage or repossess the property 1 7 for nonpayment or for any breach occurring during military 1 8 service or for nine months after release or discharge from 1 9 military service without an order from a court of competent 1 10 jurisdiction. 1 11 EXPLANATION 1 12 The inclusion of this explanation does not constitute agreement with 1 13 the explanation's substance by the members of the general assembly. 1 14 Current law provides that a creditor of a service member who, 1 15 prior to entering military service, entered into a mortgage 1 16 contract with the service member for the purchase of real 1 17 or personal property shall not foreclose on the mortgage or 1 18 repossess the property for nonpayment or for any breach during 1 19 the service member's military service without an order from 1 20 a court of competent jurisdiction. The bill extends this 1 21 protection against mortgage foreclosures for nine months 1 22 after the service member's release or discharge from military 1 23 service. LSB 2485YH (1) 86 jh/sc
