Finance
In Iowa, judicial foreclosure means:
AThe lender can repossess the property without a court order
BThe foreclosure must proceed through the court system✓ Correct
CThe borrower must agree to foreclosure in writing
DA mediator resolves the foreclosure dispute
Explanation
Iowa is a judicial foreclosure state, meaning the lender must file a lawsuit and obtain a court judgment before selling a foreclosed property. This process typically takes several months to over a year.
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