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.
Tyrone is a ghost town located in Grant County, New Mexico, United States, in the southwestern part of the state. Tyrone was an elaborately planned community financed by the Phelps Dodge Corporation, based on Mediterranean and European styles, designed by well-known architect Bertram Goodhue and built in 1915 at a cost of more than a million dollars. A drop in copper prices in 1921 closed the mines and the town was deserted. The townsite was later destroyed as part of Phelps Dodge's development of the Tyrone open-pit copper mine, which began operation in 1969.