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.
Saranac Lake is a village located in the state of New York, United States. As of the 2000 census, the population was 5,041. The village is named after Upper, Middle, and Lower Saranac Lakes, which are nearby. The Village of Saranac Lake covers parts of three towns and two counties, Franklin and Essex. The village boundaries do not touch the shores of any of the three Saranac Lakes; Lower Saranac Lake is a half mile west of the village. The northern reaches of Lake Flower, which is part of the Saranac River, lie within the village. The town of Saranac is an entirely separate entity, 33 miles (53 km) to the northeast. The village lies within the boundaries of the Adirondack Park, about seven miles (11 km) from Lake Placid. These two villages, along with nearby Tupper Lake, comprise what is known as the Tri-Lakes region. Saranac Lake was named the best small town in New York State and ranked 11th in the United States in The 100 Best Small Towns in America. In 1998 the National Civic League named Saranac Lake an All-America City and in 2006 the village was named as one of the "Dozen Distinctive Destinations" by the National Trust for Historic Preservation. The village has 186 buildings that are listed on the National Register of Historic Places.