A Wisconsin Settlement Agreement is an agreement between a borrower and a lender regarding a borrower's mortgage debt. This agreement is used when the borrower is behind on mortgage payments, and the lender has agreed to accept a payment plan and/or a reduced amount to settle the debt. It outlines the terms of the settlement, including the amount of the settlement, payment schedule, and other terms. There are two types of Wisconsin Settlement Agreements: a short sale agreement and a loan modification agreement. A short sale agreement is when the borrower sells the property for an amount that is less than the amount owed on the loan, and the proceeds go to the lender to settle the debt. A loan modification agreement is when the lender agrees to modify the loan terms, such as reducing the interest rate or extending the term of the loan, in order to reduce the borrower's monthly payments.
Wisconsin Settlement Agreement
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