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.
Towanda is a village in McLean County, Illinois, United States. The population was 493 at the 2000 census. It is part of the Bloomington–Normal Metropolitan Statistical Area. Landmarks of Towanda include a grain silo complex, local library, and Towanda Elementary School of Normal, Illinois School District Unit Number 5.