Not a single eviction notice or one bad month behind on the mortgage, the foreclosure process is the legal path a lender uses to take and sell property after a borrower defaults on a home loan. It usually begins after missed payments and default notices, then moves through court or another legally allowed procedure before the property can be sold. Along the way, there may be chances to reinstate the loan, negotiate a loan modification, arrange a sale, or redeem the property by paying what is owed.

The practical danger is timing. Once the process starts, fees, interest, and court costs can pile up fast, and homeowners are often targeted by rescue scams promising to "save" the property for an upfront payment. A foreclosure can also damage credit, affect future housing options, and wipe out any equity if the sale price is too low.

In Wisconsin, most foreclosures are judicial, meaning the lender generally must file a lawsuit and get a court judgment before a sheriff's sale. Wisconsin foreclosure rules are mainly found in Chapter 846 of the Wisconsin Statutes. The timeline can vary, but redemption periods are a major issue and may differ depending on the property and whether the lender seeks a deficiency judgment. Missing court papers or deadlines can cost an owner valuable rights.