First Interstate Bank of Wisconsin-Southeast v. Heritage Bank & Trust

Frank Sterbin appeals from a supplemental order confirming a sheriffs sale distributing surplus proceeds to the second mortgage holder. Sterbin maintains that the circuit court erred in denying Sterbin discovery before it ordered the surplus disbursed. Sterbin also contends that a mortgage holder should lose priority for future advances made when the mortgage holder should have had reason to know of the existence of a subsequent mortgage. Because we conclude that Sterbin did not timely assert a right to discovery, and sound business practices would not be fostered by imputing constructive…