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Saint Paul Regional Office Regional Loan Center
TITLE REQUIREMENTS FOR TERMINATED PROPERTIES
IOWA
Title 38 CFR 36.4319 requires the holder of a VA guaranteed mortgage to send a copy of every procedural paper filed by or served upon the holder in any legal and/or foreclosure action to VA. These procedural papers are:
TITLE REQUIREMENTS FOR FORECLOSED PROPERTIES
- Abstract of Title (40 years) continued through the Sheriff's Sale.
NOTE: In any case in which there has been a bankruptcy filed within the last 10 years by any person in the chain of title, and the property was not sold or otherwise conveyed by the bankruptcy estate, the abstract of title must contain sufficient documentation to satisfy the requirements of Iowa Title Standard 13.3 or 13.5. If the abstract does not contain such documentation, separate documentation may be submitted to satisfy this requirement. In the event that the bar association of the city or county where the property is located has enacted an agreement to accept less than the requirements of either of these two standards, a copy of the agreement and sufficient documentation to satisfy it may be submitted for consideration.
- Original Sheriff's Certificate of Sale or Purchase.
- Assignment of Sheriff's Certificate.
- Assignment of Judgment, if Deficiency Judgment is taken.
- Original mortgage title policy, if one was issued.
- In foreclosure without redemption cases in which you obtain the Sheriffs Deed immediately after the sale, include the State of Iowa Declaration of Value form showing the amount bid at the sale as consideration for the deed to the Secretary, Sheriff's Deed and a recorded Warranty Deed, conveying your interest to the Secretary of Veterans Affairs.
TITLE REQUIREMENTS FOR VOLUNTARY CONVEYANCE
- Original recorded deed(s).
- Estoppel Affidavit.
- Abstract of Title (40 years) continued through recording of deed to the Secretary of Veterans Affairs.
NOTE: In any case in which there has been a bankruptcy filed within the last 10 years by any person in the chain of title, and the property was not sold or otherwise conveyed by the bankruptcy estate, the abstract of title must contain sufficient documentation to satisfy the requirements of Iowa Title Standard 13.3 or 13.5. If the abstract does not contain such documentation, separate documentation may be submitted to satisfy this requirement. In the event that the bar association of the city or county where the property is located has enacted an agreement to accept less than the requirements of either of these two standards, a copy of the agreement and sufficient documentation to satisfy it may be submitted for consideration
- Attorney's opinion of title.
- If a condition of the voluntary conveyance, original executed Promissory Note.
- Recorded Release of Mortgage.
MAILING ADDRESS: Send all legal documents for properties located in Iowa within 60 days of the foreclosure sale to the following address:
COUNTRYWIDE HOME LOANS ATTN: VA REO
MS RGV-B-85
2375 N GLENVILLE DRIVE RICHARDSON, TX 75082
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| Reviewed/Updated Date: October 7, 2008 |
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