Does a commercial mortgage holder’s exercise of the right to obtain a shortened redemption period under §846.103(2) require it to forfeit rights against a guarantor of payment because the guarantor is a “… party who is personally liable for the debts secured by the mortgage” under the statute?
Can a guarantor of payment contractually waive an objection to, and consent to, a mortgage holder’s election under §846.103(2) such that all rights against the guarantor are retained?
Wednesday, April 29, 2009
The Wisconsin Supreme Court on April 14, 2009 granted the petition to review the Court of Appeals decision, 2009 WI App 14, in this case (2008AP912). The Table of Pending Cases (Updated April 16, 2009) [html | pdf] says the issues are: