Wisconsin Foreclosure Laws and Statutes | WI
Wisconsin Foreclosure is Judicial.
Wisconsin foreclosure law usually requires the filing of a lawsuit to obtain a court order to foreclose. Mail the notice of entry of judgment. Verify the period of redemption. File the bill of costs. Set a date for the Sheriff sale.
Wisconsin Foreclosure Notice of Sale
Wisconsin foreclsoure law states that a notice of the sheriffs sale must be published. It must be published for six full weeks and the last publication must be completed at least one week prior to the day of the sale. The notice must be posted is three public places and contain the sale date, time, and location.
Wisconsin Foreclosure Auction
Once proof is obtained of the posting and publishing of the sale, the auction is held, where the bid must be paid unless it is by the plaintiff and is the amount of the judgment or less. A report is made of the final sale and a motion date is set for confirmation of sale.
The Wisconsin foreclosure sale must be held at the time and place stated in the foreclosure notice. The winning bidder will receive a certificate of purchase.
Wisconsin Foreclosure Redemption Period
Unless the Wisconsin foreclosure sale has been confirmed by court order, the borrower has one year (12 months) to redeem the property by paying the amount of the highest bid at the foreclosure sale, plus interest.
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