Foreclosure

usgb/fɔːrˈkləʊʒər/
noun

The action of taking back property because the money owed for the property has not been paid.

The bank decided to proceed with the foreclosure since the homeowner did not pay the mortgage for several months.
Visual representation of "foreclosure" - The action of taking back property because the money owed for the property has not been paid.

Often appears as...

  • notice of foreclosure
  • avoid foreclosure
Definition 1 of 2
Visual representation of "foreclosure"
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Financial Distress

Refers to a serious financial problem where property is taken due to unpaid debt.

Illustration for Financial Distress
The family faced foreclosure after losing their jobs.
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Legal Process

Involves legal steps that lenders use to take back a property, often involving court.

Illustration for Legal Process
They received a court notice about the foreclosure of their farm.
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Negative Connotation

Foreclosure often suggests financial failure or hardship.

Illustration for Negative Connotation
The term foreclosure scared the tenants, hinting at possible eviction.
Word comparison image

Compare with

appropriatorattachmentconfiscateexpropriateliquidaterepossessionresumptionseizure
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Visual representation of the word "Foreclosure"

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