Meaning & use

foreclosure

noun·Academic

The legal process by which a lender takes possession of a property when the borrower fails to make mortgage payments.

See it in a sentence

The bank began foreclosure proceedings after the homeowners missed six months of payments.

Falling home prices left many families facing foreclosure during the recession.

A note on using this word

Foreclosure specifically applies to real estate secured by a mortgage, distinguishing it from general repossession of property.

Words with a similar meaning

repossession

Choose a synonym to suit the sentence. Meanings can overlap without being identical.

Make it your own

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