Legal Question in Real Estate Law in Wisconsin

Yes, one can continue to market and sell a home, right up until the end of the foreclosure. However, the pitfalls are many and the likelihood of a succesful sale declines steadily as the foreclosure grinds on. Potential buyers also can easily learn about the presence of the foreclosure lawsuit, which may make the transaction less desirable to them. These days, such transactions often end up being short sales, whcih require the consent of the bank in order to close for less than the amount owed on the loan. Either a buyer or seller would be foolhardy to attempt such compex transactions without the guidance of an experienced real estate attorney; ideally one who also practices bankruptcy law. While chapter 13 can be used to resume payments and reinstate a loan, even a chapter 7 filing can temporarily halt a foreclosure long enough to permit a closing on an accepted and viable sales contract Please be aware that my responses to you in the public web forum do not make me your attorney and that I am not representing you or taking any action on your case. Instead, these answers are intended answers on Law for public educational use only and may also contain lawyer advertising materials. Regardless of this, however, you are still welcome to contact me during business hours at my in Racine if you still have questions, or see me on the web at www.jayknixonlaw.com. For a list of my other answers on Law Guru, please see my profile link here at lawguru.com.