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.
Bowstring is an unincorporated community in the Bowstring Lake unorganized territory in Itasca County, Minnesota, United States. It is located about 10 miles north of Deer River on Minnesota State Highway 6. The town name appears on some state maps and on highway signage. The U.S. Postal Service accepts mail addressed to Bowstring, which is held for pickup at a contract post office located at the Bowstring Store. The town is named after nearby Bowstring Lake. Its population is about 121 people. Buildings include a church, the Bowstring Store, the USDA fire warden's office, a community center, and several houses. It also features a telephone booth, which was an important feature up until the arrival of cellular phone service in the area in the 1980s. The town has served travelers, tourists, and the area's few permanent residents since being settled in the 1920s.