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.
Schaumburg is a village located in Cook County in northeastern Illinois. Schaumburg is located just under 30 miles (48 km) northwest of downtown Chicago and approximately 8 miles (13 km) northwest of O'Hare International Airport. As of the 2000 census, the village had a total population of 75,386. As of 2005, the population dropped slightly to 72,690, according to the Census Bureau. A special census conducted by Schaumburg in 2007 determines it had actually increased to 75,936. The city contains the world headquarters of Motorola and one of only two IKEA stores in Illinois. It contains the Woodfield Mall, the third-largest mall in America, which at most times has over 300 stores (however Woodfield has more recently also begun including strange services, such as a Currency Exchange and an optical area, which are counted towards this total). The city is also the home of the Schaumburg Flyers, a Northern League baseball team whose home is located near the Elgin O'Hare Expressway. Schaumburg's transition from a rural community to that of a suburban metropolis began with Alfred Campanelli's first large scale suburban-style development in 1959 and Woodfield Mall's opening on September 9, 1971. The dinner theater chain, Medieval Times, has one of its nine locations in America in Schaumburg. Examples of large suburbs similar to Schaumburg, IL include Lake Forest, CA and Framingham, MA, in terms of both population and suburban location.