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.
Petoskey is a city in the U.S. state of Michigan. It is also known as "P-town" or "the P. " As of the 2000 census, the city population was 6,080. It is the county seat of Emmet County. Petoskey and the surrounding area are notable for being the setting of several of the Nick Adams stories by Ernest Hemingway, who spent his childhood summers on nearby Walloon Lake, as well as being the place where for Calliope, the protagonist of Jeffrey Eugenides' Middlesex, events take a severe and lasting turn. Petoskey is also famous for a high concentration of Petoskey stones, the state stone of Michigan. Petoskey is the birthplace of information theorist Claude Shannon and Civil War historian Bruce Catton and is the boyhood home of singer/songwriter Sufjan Stevens. The name "Petoskey" is said to mean "where the light shines through the clouds" in the language of the Odawa Indians, who are the original inhabitants. The Petoskey stone and the city were named after Chief Ignatius Petosega (1787-1885), who founded the community. Petosega's father was a French Canadian fur trader and his mother was an Odawa (Ottawa) Indian. This city was the northern terminus of the Chicago and West Michigan Railway.