26984 words

foreclosure

2 definitions • 7 examples
1
the action of taking back property that was bought with borrowed money because the money was not being paid back as formally agreed, or an example of this:

Examples:

She is another homeowner facing foreclosure.
His firm handles about 3,000 mortgage foreclosures a year.
2
the act of taking back property that was bought with borrowed money because the money was not being paid back as agreed:

Examples:

There are concerns about the current housing market, where prices are falling and foreclosures are rising.
go into/enter/face foreclosure When a number of homes go into foreclosure, neighborhood home values take a heavy hit.
a foreclosure filing/notice/suit
a foreclosure auction/sale

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