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.
Petersburg is a city in Menard County, Illinois, on the bluffs and part of the floodplain overlooking the Sangamon River. It is part of the Springfield, Illinois Metropolitan Statistical Area. The population was 2,299 at the 2000 census. It is the county seat of Menard County. Petersburg is located approximately two miles north of New Salem, the original settlement where Abraham Lincoln first settled when he came to Illinois.