8 Milwaukee issued Carson citations and fines for ordinance violations. However, her abandoned property was repeatedly vandalized and ransacked and was eventually boarded. Seventeen months after judgment was entered, Carson still held title to the property. He provided the lender’s perspective in this article. He provided the homeowner’s perspective in this article.īenjamin Payne, Marquette 2002, is a partner at Hanson & Payne LLC, Milwaukee, representing financial institutions in collection litigation and serving as bankruptcy counsel for individuals and companies. Justin Mertz, Marquette 2008, is an attorney at Kerkman & Dunn, Milwaukee, where he focuses on business litigation, real estate, foreclosure defense, and representing debtors in chapter 11 cases and workouts. He provided the city’s perspective in this article.
He coauthored the Wisconsin Supreme Court amicus brief that was submitted in Carson on behalf of the city. Kail Decker, Marquette 2008, is a Milwaukee assistant city attorney, focusing on nuisance abatement, municipal law, and litigation.
7 The bank never took the property to a sheriff’s sale. On June 13, 2011, the court issued a default judgment and set a six-month redemption period. She decided to vacate the house, believing that the bank was going to take the property. 6 In January 2011, the Bank of New York Mellon filed a foreclosure action against Carson in Milwaukee County. Shirley Carson, a 62-year-old widow, owned a single-family home on Milwaukee’s northwest side. A summary of Carson properly arms the discussion. Carson, 5 Wisconsin has been launched into the foray of zombie property eradication. With perhaps the first state supreme court case in the nation on this issue, Bank of New York Mellon v. The Wisconsin Supreme Court Case – Preparedness 101: Zombie Apocalypse 4
cities, Wisconsin statutes and recent case law provide some real-world experience to analyze and address the zombie property problem. 3 Although the situation in Wisconsin is merely a microcosm of how the issue is playing out across major U.S. 2 Beginning in 2006, the number of new foreclosure cases began to aggressively rise, reaching a peak of 30,668 in 2009. Stuck in this state of limbo, a “zombie property” is born.īefore 2006, there were approximately 10,000 new foreclosure filings annually in Wisconsin. The underlying property remained titled in the name of the original homeowner, who had abandoned the property, but the lender remained unwilling to finalize the foreclosure proceeding. Many lenders stalled or stopped prosecuting foreclosure cases, thus never finalizing a sheriff’s sale. Mortgagees (lenders), on the other hand, were faced with a multitude of foreclosure filings, escalating costs and legal fees, and declining property values. Many believed that a foreclosure action meant they no longer owned or could reside in the property others moved out, attempting to put their problems behind them. After defaulting, many mortgagors (owners or borrowers) simply vacated their homes. Recent economic circumstances have created a perfect breeding ground for a new type of creature: the “zombie property.” 1 Zombie properties have proven to be the inevitable result of the collapse of the subprime mortgage industry in 2008-09.
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