First Wisconsin Trust Co. v. Rosen

Continental Bank & Trust Company appeals from an order confirming the foreclosure sale of real property. Continental argues that the trial court improperly awarded surplus proceeds from the sale to satisfy tax liens at the expense of foreclosed junior lienholders, depriving the junior lienholders of their only source of secured monies. We agree and therefore reverse.

First Wisconsin Trust Company commenced this action seeking foreclosure of its first mortgage on the real property of defendants Michael and Catherine Rosen. The Sidney J. Friedman Irrevocable Trust, by its trustees Gerald J. Kahn…