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.
Colfax is a small unincorporated community located in Guilford County, North Carolina. As of the 2000 census, the CDP had a population of 2,469. Colfax is located at (36.11, -80.01). The community is a suburb of Greensboro and is located in the center of the Piedmont Triad. Its main attraction is the Piedmont Triad Farmers Market, where people shop for fresh food from local farmers. Its main school is the Colfax Elementary School, which is part of the Guilford County School System. It is also the location of one of fifteen Piano and Organ Distributors, one of the largest piano sellers in the country. In 2000, the community attempted to incorporate, but failed after a joint commission found that the proposed limits were not sufficient for incorporation under North Carolina law, lacking under the population density requirement. On June 30, 2008 the city of Greensboro annexed the main part of Colfax into the city limits, though some of Colfax is still unincorporated.