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.
Roselle is a village located in both Cook County and DuPage County, Illinois. Roselle is located in the northern edge of DuPage County 30 miles from downtown Chicago. The population was 23,115 at the 2000 census. First incorporated in 1922, Roselle can correctly be categorized as a bedroom community — that is, a community that largely consists of residential zoning in both income streams and geographical area. Residents generally commute to Chicago or nearby suburbs for their jobs. As a result, the early rural atmosphere of the community has been lost over the past 30 years. There are three main commercially-zoned areas in the village. One is along the southern border of the town along Lake Street (U.S. Route 20), the second is in the center of the village near the historical center of Park Street and Irving Park Road (Illinois Route 19). In 2005, a new downtown business development opened along the Soo Line Railroad tracks just north of the town center (Main Street Station), the third is along Nerge Road the northern edge of the village. Plans are currently underway for the redevelopment of the Downtown District in addition to Main Street Station. The several phase project is collectively known as Village Crossing.