Iowa Code 628.5 – Redemption by creditors
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Terms Used In Iowa Code 628.5
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
If redemption is not made by the debtor as provided in section 628.3, thereafter, and at any time within nine months from the day of sale, redemption may be made by a mortgagee before or after the debt secured by the mortgage falls due, or by any creditor whose claim becomes a lien prior to the expiration of the time allowed for redemption.