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Terms Used In Iowa Code 714E.5

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
714E.5 Waiver not allowed.
A waiver by an owner of the provisions of this chapter is void and unenforceable as contrary to public policy. An attempt by a foreclosure consultant to induce an owner to waive the owner’s rights is a violation of this chapter.
2008 Acts, ch 1125, §5, 19
Referred to in §714E.8, 714E.9