Foreclosure

Pronunciation: /fɔːrˌkloʊʒər/

Definitions of foreclosure

noun the action of taking possession of a mortgaged property when the borrower fails to keep up their mortgage payments

Example Sentences

A1 Foreclosure is when a bank takes back a house if the owner can't pay the mortgage.

A2 Many families faced foreclosure during the economic crisis.

B1 The foreclosure process can be complicated and stressful for homeowners.

B2 She was able to stop the foreclosure of her home by working out a payment plan with the bank.

C1 The foreclosure of the commercial property had significant implications for the local economy.

C2 The investor purchased the foreclosed property at auction for a fraction of its market value.

Examples of foreclosure in a Sentence

formal The bank initiated foreclosure proceedings on the property after the owner failed to make mortgage payments.

informal They're going to lose their house because of foreclosure.

slang Dude, did you hear about Jerry's place getting foreclosed on?

figurative The foreclosure of his dreams left him feeling lost and defeated.

Grammatical Forms of foreclosure

• past tense: foreclosed
• plural: foreclosures
• comparative: more foreclosed
• superlative: most foreclosed
• present tense: foreclose
• future tense: will foreclose
• perfect tense: have foreclosed
• continuous tense: is foreclosing
• singular: foreclosure
• positive degree: foreclosure
• infinitive: to foreclose
• gerund: foreclosing
• participle: foreclosed

Origin and Evolution of foreclosure

First Known Use: 1601 year

Language of Origin: Old French

Story behind the word: The word 'foreclosure' originated from the Old French word 'forclos', which means 'shut out' or 'exclude'.

Evolution of the word: Over time, the term 'foreclosure' has evolved to specifically refer to the legal process by which a lender takes possession of a property from a borrower who has failed to meet the terms of their mortgage agreement.