Redemption and Deficiency Judgments in Wisconsin
Whether you can buy back your home after a foreclosure sale in Wisconsin, and whether the lender can sue for what's still owed.
Short answer: Wisconsin's redemption right runs before the sale, not after it: the homeowner may redeem at any time before the foreclosure sale by paying the full judgment amount, interest, costs and taxes paid by the lender. Wis. Stat. §§ 846.13, 846.10(2)
| Redemption after the sale | Wisconsin's redemption right runs before the sale, not after it: the homeowner may redeem at any time before the foreclosure sale by paying the full judgment amount, interest, costs and taxes paid by the lender. The waiting period between judgment and sale (see foreclosure_timeline) is the time available to redeem. Source: Wis. Stat. §§ 846.13, 846.10(2) |
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| Deficiency judgments | Yes, if requested. The lender may ask in its complaint for a deficiency judgment against every party personally liable for the debt; the deficiency is ordered in the original judgment and entered after the sale is confirmed. For an owner-occupied 1- to 4-family home (and certain other property) on 20 acres or less, if the borrower agreed in the mortgage, the lender may instead elect in its complaint to waive any deficiency, which shortens the waiting period before sale and lets the owner stay in possession until the sale is confirmed. Source: Wis. Stat. §§ 846.04, 846.101 |
More Wisconsin foreclosure & homeowner law
- How Foreclosure Works in Wisconsin
- HOA Liens and Foreclosure in Wisconsin
- Getting Your Home Back After a Tax Sale in Wisconsin
- All Wisconsin foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Wisconsin?
Wisconsin's redemption right runs before the sale, not after it: the homeowner may redeem at any time before the foreclosure sale by paying the full judgment amount, interest, costs and taxes paid by the lender. The waiting period between judgment and sale (see foreclosure_timeline) is the time available to redeem.
Can the lender come after you for the rest of the loan after foreclosure in Wisconsin?
Yes, if requested. The lender may ask in its complaint for a deficiency judgment against every party personally liable for the debt; the deficiency is ordered in the original judgment and entered after the sale is confirmed. For an owner-occupied 1- to 4-family home (and certain other property) on 20 acres or less, if the borrower agreed in the mortgage, the lender may instead elect in its complaint to waive any deficiency, which shortens the waiting period before sale and lets the owner stay in possession until the sale is confirmed.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.