Foreclosure ( noun , verb )

(As a noun)

Foreclosure ( noun )

1. The legal process by which a lender (such as a bank) can repossess a mortgaged property from a borrower who has failed to keep up with the mortgage payments.
2. The process of taking possession of a property from a borrower who has defaulted on their mortgage.

Origin:

Mid 17th century: from fore- "before" + closure, on the pattern of middle english forclos "shut up, closed", from old french forclos.

Examples:

1. He lost his house to foreclosure.
2. The bank is threatening foreclosure if I don't pay the mortgage.
3. The foreclosure proceedings have begun on the property.
4. The foreclosure rate in the area was very high.
5. Foreclosure is the last resort for the bank to recover the unpaid loans.

(As a verb)

Foreclosure ( verb )

1. The legal process by which a lender (such as a bank) can repossess a mortgaged property from a borrower who has failed to keep up with the mortgage payments.
2. The process of taking possession of a property from a borrower who has defaulted on their mortgage.

Origin:

Mid 17th century: from fore- "before" + closure, on the pattern of middle english forclos "shut up, closed", from old french forclos.

Examples:

1. He lost his house to foreclosure.
2. The bank is threatening foreclosure if I don't pay the mortgage.
3. The foreclosure proceedings have begun on the property.
4. The foreclosure rate in the area was very high.
5. Foreclosure is the last resort for the bank to recover the unpaid loans.