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.
Farmerville is a town in and the parish seat of Union Parish, Louisiana, United States. The population was 3,808 at the 2000 census. It is part of the Monroe Metropolitan Statistical Area. The Pilgrim's Pride poultry processing and protein conversion plant in Farmerville was slated for closure early in 2009, along with other company operations in nearby Arcadia in Bienville Parish, Athens in Claiborne Parish, and Choudrant in Union Parish. The closures impacted some 1,300 jobs in North Louisiana. Several weeks later, however, Pilgrim's Pride accepted an $80 million offer from Foster Farms of California to purchase the operations. In addition, to the 1,300 direct jobs, the purchase spares the small farms of some three hundred independent growers. Foster Farms put up $40 million and the State of Louisiana a matching $40 million. Foster Farms will further invest $10 million in capital improvements at the Farmerville plant, to be matched by the state, in an agreement announced by Governor Bobby Jindal.