Iowa woman wins foreclosure appeal after lender failed to notify co-owner

AI Summary

The Iowa Supreme Court ruled that a co-owner must receive notice before foreclosure proceedings can advance, even though she did not sign the promissory note. The case involved a mortgage listing Lynae D. McMillen Dickey Tesdall as a borrower and Wells Fargo’s failure to notify her of accumulating overdue payments.

In a landmark decision, the Iowa Supreme Court determined that Lynae D McMillen Dickey Tesdall, a co-owner of a property, must receive notice before any foreclosure actions can proceed. Despite not signing the promissory note, she was listed as a borrower in the mortgage. While absent, missed payments accumulated, and Wells Fargo neglected to inform her of the ongoing overdue amount.