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.
Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. As of the 2000 Census, the city had a population of 114,024, of which 36,892 (32%) are university or college students. The 2008 Census Bureau Estimate places the population at 114,386, making it the fifth largest city in Michigan. The city is part of the Detroit – Ann Arbor – Flint, MI CSA. Ann Arbor was founded in 1824, with one theory stating that it is named after the spouses of the city's founders and for the stands of trees in the area. The University of Michigan moved from Detroit to Ann Arbor in 1837, and the city showed steady growth throughout the 1800s and 1900s, with a decline during the Depression of 1873. During the 1960s and 1970s, the city gained a reputation as an important center for liberal politics. Ann Arbor also became a locus for left-wing activism and served as a hub for the civil-rights movement and anti-Vietnam War movement, as well as the student movement. Today, Ann Arbor is home to the University of Michigan, which is the dominant institution of higher learning in the city. The university shapes Ann Arbor's economy significantly as it employs about 30,000 workers, including about 12,000 in the medical center. The city's economy is also centered on high technology, with several companies drawn to the area by the university's research and development money, and by its graduates. Ann Arbor has increasingly found itself grappling with the effects of sharply rising land values and gentrification, as well as urban sprawl stretching far into the outlying countryside.