Know how Wisconsin foreclosure laws will affect you

Laws on foreclosure vary considerably by state so you should be familiar with at least a summary of foreclosure laws in Wisconsin. You should also read your loan documents to know what your lender can do if you can't make your payments.

I recommend: ForeclosureS.com provides the contact information for the Attorney General’s Office in Wisconsin and links to specific legislation regarding foreclosure in Wisconsin.

Get assistance understanding Wisconsin foreclosure recovery information

There are housing counselors and online resources available to help you understand your options, assist you in organizing your finances and negotiate with your lender if needed.

I recommend: DebtAdvice.org is a service provided by the National Foundation for Credit Counseling and allows you to locate housing counselors based on your zip code and search radius. The Department of Housing and Urban Development provides contact information for approved housing counselors in Wisconsin that are available for free or at a very low cost.

Retain one of the many foreclosure attorneys in Wisconsin

You may need one of the available Wisconsin foreclosure lawyers to protect your interests, especially if you need to sign documents. If your regular attorney does not handle Wisconsin foreclosure law, he or she may be able to make a referral.

I recommend: Green & Kapsos handles family law and bankruptcy in Milwaukee and the surrounding areas. Terwilliger, Wakeen, Pekhler & Conway is located in Wausau and concentrates its practice in business law, especially real estate.

Watch out for mortgage recovery scams

The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like "guarantee" and "97% success rate", upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission.  The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.