26984 words

repossession

3 definitions • 5 examples
1
the act of taking something back, or the thing that is taken back:

Examples:

house/mortgage repossessions
2
the act of repossessing something:

Examples:

The mortgage market has seen a marked increase in repossessions.
House prices fell and thousands were left facing repossession.
Many banks are accused of being harsh in their repossession policies.
3
a house that has been taken back by a bank because the owners cannot repay the loan that they took to buy it:

Examples:

When the house was sold as a repossession, it fetched just £45,000.

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