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.
Detroit Lakes is a city in the U.S. state of Minnesota and the county seat of Becker County. The city's population was estimated at 8,131 in 2008 by the United States Census Bureau. Its unofficial population during summer months is much higher due to seasonal residents and tourists. From 1990 to 2000, the city experienced approximately 11% population growth. U.S. Routes 10 and 59, and Minnesota State Highway 34 serve as the primary arterial routes through the city. Detroit Lakes is located 45 miles east of the Fargo-Moorhead ND-MN statistical metropolitan area. The nearest major metropolitan area with a population over 300,000 is Minneapolis-St. Paul, which is approximately 205 miles southeast of Detroit Lakes. Detroit Lakes is a regional summer and winter recreation destination, attracting large amounts of tourists and seasonal residents each year. Its economy is fueled by seasonal population increases, with tourism being the area's chief industry along with agriculture.