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Old 05-14-2008, 09:31 PM
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Join Date: May 2008
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Need advice on chapter 802 response for foreclosure

What is the name of your state? WI

Ok here we go:
I receiced a foreclosure letter today about a property that I defaulted on. I got the property 4 years ago for a relative. I paid 120,000 for it and it has 88,000 left on the morgage. I was suckered into an adjustable rate that balloned from 576 to 1050 dollars a month. Im certainly in postion where I cant handle this house anymore, but now I have 20 days to answer this summons. My question is, can I still sell this house or since I was served am I just gonna lose it all even my equity. I have no clue what to do. Can I write a response telling my situation? will that help. It said it has to be a proper response or the court will not accept it. So if possible can someone give me some advice, I would really appreciate it.
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Old 05-15-2008, 09:32 AM
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Join Date: Feb 2007
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You can pretty much sell the house up to the day of the sheriff's sale if you can find someone willing to pay enough to satisfy what is owed on it.
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