Understanding your redemption rights and timeline in Wisconsin foreclosure.
The redemption period is your final opportunity to save your home or recover equity before the foreclosure is finalized. In Wisconsin, this period begins after the court enters a foreclosure judgment.
Key Point: During redemption, you still own the property. You can live in it, sell it, or refinance it. The foreclosure is pending but not final.
This is a critical window where your options are limited but not gone.
If lender does not waive deficiency, you have 6 months to redeem by paying full amount owed (principal, interest, fees, costs).
If lender waives deficiency, redemption is 3 months. Less time but lender cannot pursue deficiency if property sells for less.
Important: Exact period is in your court judgment. Redemption rights vary by case and court order.
Pay full amount owed to stop foreclosure and restore mortgage to current status.
Sale proceeds pay off debt. If you have equity, you may keep the difference.
Work with lender to accept less than owed. Requires approval but less damaging.
Voluntarily transfer property to lender. Less damaging than foreclosure.
You lose all rights to redeem or sell the property.
Property is sold to highest bidder.
After confirmation, you no longer own the property.
You must vacate. Sheriff can remove occupants.
Note on Equity: Under Wisconsin law, surplus proceeds from certain foreclosure sales may belong to the former owner.
We'll help you understand your redemption options and timeline.
Review My Property SituationWe are not attorneys. Consult a licensed Wisconsin attorney.