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If you’re facing foreclosure in Wisconsin, you’re not alone. Foreclosure is a difficult process for any homeowner and it’s especially challenging in Wisconsin due to the state’s unique foreclosure laws. While it’s important to understand the process and your rights, it’s also important to know that you have options.
What is Foreclosure?
First and foremost, it’s important to understand what foreclosure is and how it works in Wisconsin. Foreclosure is when a lender takes back a home from a homeowner because they’ve failed to make their mortgage payments. In Wisconsin, lenders must follow the state’s foreclosure laws which are designed to protect both lenders and borrowers. Once a lender files for foreclosure, the homeowner will receive a notice of the foreclosure. This notice will outline the process and the homeowner’s rights. Homeowners in Wisconsin have the right to contest the foreclosure in court. This can be done by filing an objection to the foreclosure, which can delay the process.
In addition to contesting the foreclosure, homeowners have other options to avoid foreclosure. Homeowners can contact their lender to discuss a loan modification or a repayment plan. This can help the homeowner catch up on their payments and avoid foreclosure. Homeowners can also work with a housing counselor to explore other options, such as a short sale or deed in lieu of foreclosure.
Where Should you go if Facing Foreclosure?
Finally, it’s important to remember that help is available. You’re not alone if you get behind on your mortgage payments. If you find yourself in foreclosure, or being threatened with it, we can help. Attorney David Kingstad is one of Milwaukee’s premiere Chapter 13 Bankruptcy experts. He can help you get through this difficult time, keep your home, and get on with your life.
Want to talk with our team at Kingstad Law? We offer a free consultation with no obligations.
No matter what situation you’re in, it’s important to understand your rights and to know that you have options. Foreclosure is a difficult process but with the right resources and help, you can avoid it.
Our team at Kingstad Law are here to help you through this difficult time. Located in Milwaukee Wisconsin we have over 40 years of legal experience dealing with foreclosures and filing for bankruptcy. We offer a free consultation by just completing the following form. Otherwise feel free to give us a call at (414) 281-5500 today.