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Wisconsin

Wisconsin Statutes § 846.01. Judicial foreclosure state.

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Judicial Type

Judicial

Redemption

6 months from the date of sale for most residential property

Deficiency

Lender must elect at time of judgment: (1) waive deficiency

Mediation

No mandatory statewide program. Wisconsin Housing and Econom

Statute Citation

Wis. Stat. §§ 846.01-846.17

Redemption Period

6 months from the date of sale for most residential property (Wis. Stat. § 846.13). 12 months if the borrower is abandoned. 5 weeks if the property is abandoned and the mortgage was executed after April 27, 2016.

Deficiency Judgment Rule

Lender must elect at time of judgment: (1) waive deficiency and get a 6-month redemption period, OR (2) seek deficiency and give the borrower a 12-month redemption period. Deficiency is limited to debt − fair market value.

Notice Requirements

Foreclosure complaint served. Lis pendens filed. Sheriff's sale after judgment. Notice of sale published and posted. Wisconsin has a detailed elective deficiency/redemption system.

Mediation Program

No mandatory statewide program. Wisconsin Housing and Economic Development Authority (WHEDA) provides foreclosure prevention counseling.

Key Provisions

  • Judicial foreclosure — court decree required
  • Elective deficiency/redemption system: lender chooses longer redemption OR deficiency
  • 6-month (or 12-month) redemption period
  • Fair value limitation on deficiency

Homeowner Protections

  • 6-12 month redemption period
  • Forced choice: lender cannot have both a short redemption period AND a deficiency — must choose
  • Judicial process with full due process
  • Fair value limitation on deficiency

Frequently Asked Questions

How does Wisconsin's elective deficiency/redemption system work?+
Wisconsin has a unique system: at the time of the foreclosure judgment, the lender must elect to: (1) WAIVE deficiency — the borrower gets a 6-month redemption period and cannot be pursued for the balance, OR (2) NOT WAIVE deficiency — the borrower gets a 12-month redemption period AND the lender can pursue deficiency (with fair value limitation). The lender cannot have a short redemption period AND a deficiency — they must choose. Most residential lenders choose to waive deficiency and get the 6-month period. This system gives you additional time if the lender wants a deficiency — use the 12 months to negotiate or prepare.
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