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WILKE v. EAU CLAIRE FIRST FED. SAV. & LOAN

No. 81-1633.

108 Wis.2d 650 (1982)

323 N.W.2d 179

Gerald L. WILKE and Diane K. Wilke, James V. Swift and Dorothy V. Swift, on behalf of themselves and on behalf of all others similarly situated, Plaintiffs-Respondents, v. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF EAU CLAIRE, Defendant-Appellant. Denison L. WILLIAMS and Cherlon F. Williams, on behalf of themselves and on behalf of all others similarly situated, Plaintiffs-Respondents, v. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF EAU CLAIRE, Defendant-Appellant.

Court of Appeals of Wisconsin.

Decided July 27, 1982.

Attorney(s) appearing for the Case

For the appellant the cause was submitted on the briefs of John D. Hibbard, Donald R. Marjala and Hibbard, Proctor, Schrage & Marjala of Eau Claire.

For the respondents the cause was submitted on the joint brief of John A. Kaiser and Losby, Riley, Farr & Ward of Eau Claire, and James N. Youngerman and Montie & Youngerman of Madison.

Before Foley, P.J., Dean and Cane, JJ.

CANE, J.

The issue is whether the interest-escalation clause in the parties' notes allows a federal savings and loan association to increase the interest portion of each monthly payment, in effect, reamortizing the loan over a longer period without changing the monthly payment. The circuit court concluded it does not. We reverse.

The named borrowers brought these actions, consolidated by stipulation, for declaration of their rights. They sought to require...

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