Tag Archives: foreclosure

Emergency Order #15

On Friday, March 27, 2020, Governor Evers held a press conference introducing Emergency Order #15 which he described as necessary to protect our communities and residents from the effects of COVID-19.  The Order was signed on Friday, March 27, 2020, becoming effective immediately.   It will remain in effect for sixty (60) days – until May 26, 2020.  

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Lender is Not Required to Credit the Amount of a Promissory Note to a Debtor in Foreclosure

By: Attorney Christine A. Gimber – Weld Riley, S.C.

On December 19, 2019, the Wisconsin Court of Appeals issued its decision in First Western SBLC, Inc. v. New Lisbon Travel Mart, LLC.  First Western foreclosed on New Lisbon’s property because New Lisbon failed to make the payments due under the mortgage secured by the property.  First Western agreed to permit New Lisbon to sell the property on a short sale – for less than the amount due.  As part of the short sale, New Lisbon’s principal gave New Lisbon a promissory note for $190,000.00. New Lisbon then assigned the promissory note to First Western.

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