Capocasa v. First National Bank of Stevens Point

The mortgage executed in June of 1963 by the Capocasas provided not only that the property serve as security for the present consideration of *719$10,600, but also for any “further sums of money which may be or become owing” to the bank. There is no doubt that mortgages to secure future advances serve a socially and economically desirable purpose.1

Wisconsin has long recognized that a mortgage can secure future advances and the lien of the mortgage will attach at the time of the mortgage even though the advances are made at a later date. Carter v. Rewey (1885), 62 Wis. 552, 22 N. W. 129; Wisconsin…