Legal Question in Real Estate Law in Wisconsin

While there is nothing wrong with a "do it yourself mortgage" per se, all secured transactions have highly technical requirements which can have a devastating impact on the enforceability of the obligation later on if not properly satisfied. There is also a conflict of interest between the borrower and the lender, that is, the borrower may benefit if the transaction is later found to be unenforceable. If I were a lender, I would therefore never attempt this without guidance from an experienced real estate of bankruptcy lawyer. I mention bankruptcy lawyers because they usually have more experience in such items than any other variety. The real test of any secured transaction is whether or not it will survive a bankruptcy. My comments here in this public web forum are offered only for general public educational purposes and are not legal advice directed toward you; nor do they create an attorney client relationship between us. However, you are welcome to contact my Racine office to discuss retaining me or to set up a free initial consultation.