HF 251 (LSB 2337YH (1) 85)

HOUSE FILE 251

BY  KELLEY

A BILL FOR

An Act relating to state military service by providing mortgage foreclosure and real estate protections for certain military service members.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 29A.103, subsection 1, Code 2013, is amended to read as follows:
   1.  The creditor of a service member who, prior to entry into military service, has entered into a mortgage contract with the service member for the purchase of real or personal property shall not foreclose on the mortgage or repossess the property for nonpayment or for any breach occurring during military service
 
or for nine months after release or discharge from military service without an order from a court of competent jurisdiction.
EXPLANATION
   Current law provides that a creditor of a service member who, prior to entering military service, entered into a mortgage contract with the service member for the purchase of real or personal property shall not foreclose on the mortgage or repossess the property for nonpayment or for any breach during the service member’s military service without an order from a court of competent jurisdiction. The bill extends this protection against mortgage foreclosures for nine months after the service member’s release or discharge from military service.