2010AP974 Harbor Credit Union v. Samp

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Property
Foreclosure; second mortgages

The accelerated redemption period is available for a sale made pursuant to foreclosure on a first mortgage when the purchasing lender holding the first mortgage has obtained a money judgment against the mortgagor on a second mortgage on the same property.

“We conclude that there is no reasonable way to read Wis. Stat. §§ 846.04(1) and 846.101 to mean that the money judgment obtained on the second mortgage and note should count as a deficiency judgment for purposes of the foreclosure action on the separate indebtedness secured by the first mortgage. The debt that the second mortgage secured was reduced to a judgment; the separate debt that the first mortgage secured resulted in a sheriff’s sale but no deficiency judgment.”

Affirmed.

Recommended for publication in the official reports.

2010AP974 Harbor Credit Union v. Samp

Dist. III, Door County, Ehlers, J., Blanchard, J.

Attorneys: For Appellant: Nesbitt, Randall J., Sturgeon Bay; For Respondent: Petitjean, John R., Green Bay

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