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.
Waccabuc is a hamlet and lake in Lewisboro, Westchester County, New York. It was first established as a vacation home for the Mead family, for whom the core road of the hamlet, Mead Street, is named. It is mostly known for its lake, Lake Waccabuc, for which the hamlet was named, if it is ever known at all. The Mead family vacation house in Waccabuc has since become the privately owned Waccabuc Country Club, which owns two large stretches of golf-fields and a lake-front. For many years, it held the record for smallest post office in the United States, until an expansion in 2003 cost it that distinction.