Legal Question in Real Estate Law in Wisconsin

Unfortunately, tardy confirmations of foreclosure sales are commonplace in WI, and so called "zombie" mortgage properties, which have been foreclosed and abandoned both by their owners and by their lenders have contributed greatly to urban blight and declining property values since the great recession. While there is a duty to wait and provide at least five days notice to the owner before confirming a sale, there is no deadline as to when the must ask for the confirmation, even though there are deadlines to conduct the sale if the property has been abandoned. Although new laws have been proposed which set such time limits, they have not yet been passed to the best of my knowledge. Properties therefore sometimes sit vacant for years, and the owners remain liable during this time for both property taxes and building code compliance during that time. This being said, if you want the confirmation to occur, there may be things that an experienced foreclosure lawyer can help you with in terms of accelerating confirmation of the sale or encourage the bank to move forward, so you should speak with one soon if you are in this situation.

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