STATE FORECLOSURE PROCEDURES - IOWA
Thursday, August 12
IOWAConveyance is usually by warranty deed. Mortgages and deeds of trust are both authorized security instruments, but lenders prefer mortgages because deeds of trust do not circumvent judicial foreclosure proceedings anyway. Those proceedings take at least 4 -6 months. Since Iowa is the only sta...
STATE FORECLOSURE PROCEDURES - INDIANA
Thursday, August 12
INDIANAConveyance is by warranty deed. Mortgages are the customary security instruments. Judicial foreclosures are required; execution of judgments varies from 3 months after filing of the complaint in cases involving mortgages drawn up since July 1, 1975, to 6 months for those drawn up between J...
STATE FORECLOSURE PROCEDURES - ILLINOIS
Thursday, August 12
ILLINOISConveyance is by warranty deed. Recorded deeds must include a declaration of the sales price. Mortgages are the customary security instruments. Judicial foreclosure is mandatory and takes at least a year from the filing of the default notice to the expiration of the redemption period. - ...
STATE FORECLOSURE PROCEDURES - HAWAII
Thursday, August 12
HAWAIIConveyance of fee simple property is by warranty deed; conveyance of leasehold property, which is common throughout the state, is by assignment of lease. Condominiums are everywhere in Hawaii and may be fee simple or leasehold. Sales of some properties, whether fee simple or leasehold, are ...
STATE FORECLOSURE PROCEDURES - IDAHO
Thursday, August 12
IDAHOConveyance is by warranty deed or corporate deed, though often there are contracts of sale involved. Either mortgages or deeds of trust may be the security instruments. Deeds of trust which include power of sale provisions are restricted to properties in incorporated areas and properties els...
STATE FORECLOSURE PROCEDURES - GEORGIA
Thursday, August 12
GEORGIAConveyance is by warranty deed. Security deeds are the security instruments. Foreclosures are non-judicial and take little more than a month because there’s a power of attorney right in the security deed. Foreclosure advertising must appear for 4 consecutive weeks prior to the first Tuesda...