Many families are facing the grim reality of an impending foreclosure these days. Many ask, what are my options to avoid foreclosure in Wisconsin? The single most important thing is to take some action. Many families just assume that they just have to sit and wait for the sherriff to come and throw them out, then find a place to rent. There are better options.
If your home is foreclosed on, the bank will try to sell it at auction. Assuming it sells, it will sometimes sell at up to 40-50% off market value in Milwaukee. If this amount does not cover the mortgage, the bank can file a deficiency judgement against you and (more…)