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.
Pellston is a village in Emmet County in the U.S. state of Michigan. The population was 771 at the 2000 census. The village is the home of Pellston Regional Airport. Its motto is "Icebox of the Nation"; Pellston recorded the state of Michigan's record low temperature, a frigid -53°F. in 1933, and every winter is regularly called out in national weather reports, along with towns like Big Piney, Wyoming, Fraser, Colorado and International Falls, Minnesota, as one of the coldest spots in the nation. The village is on the boundary between Maple River Township and McKinley Township on United States Highway 31. Interstate 75 is about 10 miles (16.1 km) east of Pellston. Mackinaw City and the Mackinac Bridge is approximately 18 miles (29 km) north and Petoskey is about 20 miles (32.2 km) southwest of the village. The University of Michigan Biological Station is on nearby Douglas Lake.