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foreclosure

 

Definitions from WordNet

Noun foreclosure has 1 sense
  1. foreclosure - the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
    --1 is a kind of
    proceeding, legal proceeding, proceedings
    Derived form: verb foreclose2

Definitions from the Web

Foreclosure

Noun: 1. The action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments.
Example sentence: The bank initiated foreclosure proceedings after the homeowner defaulted on their loan. Verb: 1. To take possession of a mortgaged property due to the mortgagor's inability to make timely mortgage payments.
Example sentence: The lender foreclosed the property after the borrower failed to meet their financial obligations. Adjective: 1. Pertaining to the process or state of a property being repossessed due to unpaid mortgage payments.
Example sentence: The real estate market was negatively impacted by the high number of foreclosure properties. Related Products on Amazon:

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