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.
Michigamme is an unincorporated community in Marquette County of the U.S. state of Michigan. It is a census-designated place (CDP) for statistical purposes and without any legal status as a municipality. As of the 2000 census, the CDP population was 287. The community is located within Michigamme Township at the northwestern end of Lake Michigamme at 46°32′05″N 88°06′36″W / 46.53472°N 88.11°W / 46.53472; -88.11. The CDP encompasses an area along most of the northern shore of the lake. The Michigamme ZIP code, 49861, serves a much larger area to the north and west of the lake, including portions of Michigamme Township and Republic Township in Marquette County and Spurr Township Covington Township in Baraga County.