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foreclosure
[fawr-kloh-zher, fohr-]
foreclosure
A proceeding in which the financer of a mortgage seeks to regain property because the borrower has defaulted on payments.
Other Word Forms
- antiforeclosure noun
- nonforeclosure noun
Word History and Origins
Origin of foreclosure1
Example Sentences
The looming home foreclosure is not just a narrative device; it’s a symbol of systemic dispossession, of a profit-driven world where communities are expendable.
This relatively obscure novel by the author of “The Day of the Locust” tells the story of Lemuel Pitkin, a Vermonter who loses his house to foreclosure.
In fact, about 25% of cancer patients either lose their homes to foreclosure or go bankrupt.
There’s another kind of mobility that comes about involuntarily — a result of foreclosure, eviction, or housing insecurity.
“The home can be repossessed if the person falls behind, and that's usually a quicker process than in default and foreclosure,” Rachel Siegel, a senior officer with Pew Charitable Trusts’ housing policy initiative, told Salon.
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