First Financial Savings Ass'n v. Spranger

In this appeal, we decide that in determining "fair value" under sec. 846.165(2), Stats., the circuit court did not abuse its discretion in refusing to consider the mortgagee/purchaser's anticipated costs between confirmation of the sale of the mortgaged premises and the mortgagee's sale to a third party. We therefore affirm the circuit court's order.

First Financial foreclosed on residential property mortgaged to it by Thomas E. Spranger and Cindy Spranger. It purchased the property at sheriffs sale for $26,400, substantially less than the amount due on the note and mortgage. The circuit…