Legal Question in Bankruptcy in Wisconsin

2nd Mortgagor

I am a 2nd mortgagor on a property in Wisconsin that is in foreclosure and it is being handled by a realtor in receivership. The bank is planning on having my name cleared of the title so they can sell it without compensation to me as the 2nd mortgage holder. My investment is worth ten percent of the puchase value. Can they really do this and do I have any recourse? The realtor made it sound as if all they needed to do was go to the judge with the necessary paperwork and it is a done deal. Any help would be greatly appreciated. Thanks.


Asked on 7/18/07, 12:49 am

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: 2nd Mortgagor

The key to stopping this (and I am not licensed in Wisconsin so I do not know how the court treats 2nd mortgages in wisconsin) is to hire an attorney in the locale of the foreclosure proceeding. The bank is going to hope you do nothing to protect your interest, as I'm sure you are listed as one of the defendants. You need to find an attorney asap.

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Answered on 7/18/07, 1:42 pm


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