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.
Silver Bay is a city in Lake County, Minnesota, United States. The population was 2,068 at the 2000 census. The city attained wide-spread publicity in the 1960s when it was discovered that the Reserve Corporation was dumping taconite tailings into Lake Superior. In 1972 they were forced to stop and charged with violating the Rivers and Harbors Act of 1899, which prohibited the dumping of harmful materials into interstate waters. In 1977, after a long trial, a new waste-storage facility was built 7 miles inland. State Highway 61 serves as a main arterial route in the city.