Foreclosure is the cutting off or termination of a right to property to compel payment of a mortgage or other debt secured by a lien. As to real property, like a house or land, foreclosure is started because of non-payment of the debt and leads to the selling of the property to which the mortgage or lien is attached in order to satisfy that debt. Lawyers who assist with foreclosure issues help struggling homeowners consider their options -- both foreclosure and foreclosure alternatives -- and determine the best course of action. Foreclosure alternatives may include loan modification, short sale, forbearance, reinstatement, and repayment plans.
Park Ridge, Illinois, is a Chicago suburb of 37,775 residents. It is located fifteen miles northwest of downtown Chicago, it is close to O'Hare International Airport, major expressways and rail transportation. It is said Park Ridge is on the highest ridge in Cook County. While this is not true, it does lie on a ridge. The soil is abundant with clay deposits, which made it a brick-making center for the developing city of Chicago. Park Ridge was originally called Pennyville to honor George Penny, the businessman who owned the local brickyard along with Robert Meacham. Later it was named Brickton. The Des Plaines River divides Park Ridge from neighboring Des Plaines, Illinois, which is west of Park Ridge. Chicago is both south and east of Park Ridge, and Niles and Unincorporated Maine Township to its north. Park Ridge is the hometown of former First Lady & current United States Secretary of State Hillary Rodham Clinton. When she visited Park Ridge on the occasion of her 50th birthday in 1997, the city renamed the southeast corner of the intersection of Elm and Wisner Streets, next to her girlhood home, "Rodham Corner. " The city is also home to the headquarters of the Big Ten Conference. Park Ridge is also home to three American Youth Football National Champions (2006,2007,2009) and one American Youth Cheerleading National Champion (2007).