Foreclosure — redemption period

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Wisconsin Court of Appeals

Civil

Foreclosure; redemption period

Reading WIS. STAT. § 846.101(2) in context with other sections of WIS. STAT. ch. 846 supports the argument that the statutory language stating notice of a foreclosure sale “shall be given” within the six-month redemption period is directory, rather than mandatory. Each of these statutes establishes a redemption period for the type of property addressed, during which the borrower may pay off his or her debt and redeem the property before it is sold at a foreclosure sale. If the lender agrees to waive its right to a deficiency judgment, the redemption period for owner-occupied one- to four-family residences is reduced to six months, and the redemption period for commercial properties is reduced to three months. Secs. 846.101(2), 846.103(2). As the circuit court observed, it simply “does not make sense” that owner-occupied residential properties with deficiency waivers would be treated differently from the other kinds of foreclosed properties.

Accordingly, the lender was permitted, but not required, to publish notices of foreclosure sale during the borrowers’ redemption periods. Because publication of the notices during the borrower’s redemption periods was not required, the circuit court properly exercised its discretion by denying the borrowers’ motions to vacate the foreclosure judgments.

Affirmed.

Recommended for publication in the official reports.

2014AP642, 2014AP647 Bank of America v. Prissel, Bank of America v. Gerlach

Dist. III , Pierce County. Duvall, J. Hoover, J., Hruz, J.

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