In this paper, based on the application of the sum-product (SP) algorithm to factor graphs (FGs) representing the joint a posteriori probability (APP) of the transmitted symbols, we propose new iterative soft-input soft-output (SISO) detection schemes for intersymbol interference (ISI) channels. We have verified by computer simulations that the SP algorithm converges to a good approximation of the exact marginal APPs of the transmitted symbols if the FG has girth at least 6. For ISI channels whose corresponding FG has girth 4, the application of a stretching technique allows us to obtain an equivalent girth-6 graph. For sparse ISI channels, the proposed algorithms have advantages in terms of complexity over optimal detection schemes based on the Bahl-Cocke-Jelinek-Raviv (BCJR) algorithm. They also allow a parallel implementation of the receiver and the possibility of a more efficient complexity reduction. The application to joint detection and decoding of low-density parity-check (LDPC) codes is also considered and results are shown for some partial-response magnetic channels. Also in these cases, we show that the proposed algorithms have a limited performance loss with respect to that can be obtained when the optimal "serial" BCJR algorithm is used for detection. Therefore, for their parallel implementation, they represent a favorable alternative to the modified "parallel" BCJR algorithm proposed in the literature for the application to magnetic channels.