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.
Melrose is a hamlet of the Town of Schaghticoke, located about 5 miles North of Troy, and about 6 miles East of Mechanicville. It is about 30 minutes from Albany, 20 minutes from Clifton Park, and 10 minutes from Troy. Centered around State Route 40, it is a small, quiet town.