Farm Emergency in Iowa
Associated Press
DES MOINES, Iowa —
Gov. Terry Branstad today declared an “economic emergency” in Iowa, triggering a law that enables troubled farmers to seek a one-year reprieve from foreclosures.
Under the moratorium, individual farmers who can stay current with interest payments but cannot come up with the principal may ask district judges to grant a one-year moratorium on their foreclosures. The law does not guarantee any moratoriums would be granted. Branstad, a Republican, headed President Reagan’s Iowa campaign last year.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.