Rock River Lumber Corp. v. Universal Mortgage Corp. of Wisconsin

The parties to this appeal and review raise a number of issues. After consideration of all issues presented, we believe the resolution of one issue is dispositive of this case and that the issue can properly be stated as follows:

Under the facts of this case, when Universal Mortgage Corporation of Wisconsin (hereinafter Universal) advanced money to discharge the existing mortgage of Wisconsin Savings and Loan Association of Milwaukee (hereinafter Wisconsin Savings and Loan), did Universal become subrogated to the rights of the savings and loan association and, therefore, to priority as against…