What deeds of trust can a lender use in a foreclosure process?

In Wisconsin, a lender has a few different types of deeds of trust they can use in a foreclosure process. One of the most common deeds of trust used is a deed of trust with a power of sale. This type of deed of trust gives the lender the legal authority to sell the mortgaged property if the borrower is unable to make their payments. Another type of deed of trust used in Wisconsin is a deed of trust with a judicial foreclosure. In this type of deed, if the borrower does not make payments, the lender can seek a judicially ordered foreclosure in which the judge will approve the sale of the property. Another type of deed of trust used in Wisconsin is a deed of trust with a deed in lieu of foreclosure. This type of deed of trust allows the borrower to deed the mortgaged property to the lender in lieu of foreclosure proceedings. The lender then has the option to accept the deed in lieu of foreclosure or reject it and pursue foreclosure proceedings. The fourth type of deed of trust used in Wisconsin is a deed of trust with a deficiency judgment. In this type of deed, if the foreclosure sale does not cover the amount of the debt, the lender has the ability to pursue a deficiency judgment against the borrower after the sale of the property. Although each of these deeds of trust can be used in a foreclosure process, it is important to note that anytime foreclosure is pursued in Wisconsin, the borrower must be notified in writing, a foreclosure process must be followed, and the lender must obtain a court order before the foreclosure can take place.

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What deeds of trust can a lender use in a foreclosure process?

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