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.
Eagle Bay is a hamlet on Route 28 in the Town of Webb in Herkimer County, New York. Eagle Bay is on the border of the Herkimer and Hamilton counties, and borders Fourth Lake. Its permanent population is 293 spread out among 968 housing units (838 units are not permanently occupied).