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.
South Orange is a suburban municipality in the New York Metropolitan Area located in Essex County, New Jersey, United States. As of the United States 2000 Census, the village's population was 16,964. Seton Hall University is located in South Orange. "The time and circumstances under which the name South Orange originated will probably never be known," wrote historian William H Shaw in 1884, "and we are obliged to fall back on a tradition, that Mr Nathan Squier first used the name in an advertisement offering wood for sale" in 1795. Of the 566 municipalities in New Jersey, South Orange Village is one of only four with a village type of government; the others are Loch Arbour, Ridgefield Park and Ridgewood. South Orange Village dates back to May 4, 1869, when it was formed within South Orange Township. On March 4, 1904, the Village of South Orange was created by an act of the New Jersey Legislature and separated from South Orange Township. In 1981, the name was changed to "South Orange Village Township" to take advantage of federal revenue sharing policies. The change was intended to allow South Orange to qualify for a pool of federal aid allocated to municipalities that allowed townships to receive as much as double the revenue-sharing aid per capita received by the four other types of New Jersey municipalities — borough, city, town or village.