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.
See also: other Margates Margate City is a city in Atlantic County, New Jersey. As of the United States 2000 Census, the city population was 8,193. Margate City was originally incorporated as the borough of South Atlantic City by an Act of the New Jersey Legislature on September 7, 1885, from portions of Egg Harbor Township, based on the results of a referendum held on August 1, 1885. South Atlantic City was reincorporated as a city on April 23, 1897, and then reincorporated with the name Margate City April 20, 1909. Margate City is located on 8.1-mile long Absecon Island, along with Atlantic City and Ventnor City to the northeast, and Longport on the southwest. The city stretches approximately eight blocks from the Atlantic Ocean to the bay at most points in town. Margate is a popular Jersey Shore destination, especially during the summer. Margate City is the home of Lucy the Elephant, a large wooden elephant 65 ft (19.7 m) tall. Marven Gardens, of Monopoly board game fame, is also located there.