Wisconsin Foreclosure: What’s The Best Way To Save My Sister’s House?
My sister is facing foreclosure in Location: Milwaukee County, WI.
She refinanced in 2019 with a 5/1 adjustable-rate mortgage (ARM). Her payments have since increased significantly, to the point where she can no longer afford them, causing her to fall behind.
The foreclosure lawsuit was filed September 30, and she’s currently within the 20-day period to respond to the summons.
I have enough money to cover all her missed payments, fees, and legal costs, but not the entire mortgage balance.
She contacted the credit union, but they said they couldn’t discuss her account or access her mortgage information because of where it is in the foreclosure process.
What’s ultimately our best course of action? Can we reinstate the mortgage and negotiate a modification to make future payments affordable? Should we contact the lender’s attorney, hire our own, or consider Chapter 13 bankruptcy?
I want to save her house, but catching up on payments won’t help if she still can’t afford them going forward.
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