United States v. Davis

ESCHBACH, Senior Circuit Judge.

Wisconsin’s real estate foreclosure law allows lenders to choose between two different foreclosure routes. Route one gives the borrower a long redemption period but allows the lender to preserve its right to collect a deficiency judgment from the borrower. Route two provides for expedited foreclosure but requires the lender to fore-go its right to a deficiency judgment. This case involves an attempt by the Department of Veterans’ Affairs (VA) to exercise its federal indemnity right to seek reimbursement from a veteran for a loan guaranty payment the VA made to a…