FORECLOSURE DEFENSE NEWS AND INFORMATION - Wisconsin

On April 16, 2009, the Business Journal of Milwaukee reported that foreclosure filings in Wisconsin increased in March compared with the prior month and a year ago. According to the report, Wisconsin had 3,812 properties in some form of foreclosure in March, almost 28 percent more than in February and nearly 84 percent higher than March 2008.

According to State Senator Lena Taylor, the foreclosure rate in Wisconsin has tripled since 2005. As way to stem this crisis, she proposed mandatory mediation as part of the foreclosure process. In order to take advantage of that opportunity, residents would have to submit answers to their lenders foreclosure papers. Those answers answer forms are available as easy to use Answer packages available for quick download.

For many Wisconsin residents, loan modifications represent a way to avoid the loss of their homes. As has been widely reported, the Obama administration recently announced various programs to promote mortgage lenders to approve loan modifications and requested short sales. Requests for mortgage modifications and Requests for short sales are easier to submit than most homeowners believe, and offer a way for homeowners to avoid foreclosure. In increasing numbers, mortgage servicers are willing to work creatively with homeowners to help them avoid the loss of their homes. However, in or order to take advantage of such opportunities, Wisconsin homeowners must be proactive, and submit the required requests to their lender or loan servicer.