Meaning of the word foreclosure in English
What does foreclosure mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
foreclosure
US /fɔːrˈkloʊ.ʒɚ/
UK /fɔːˈkləʊ.ʒər/
Noun
the action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments
Example:
•
The bank initiated foreclosure proceedings after three missed payments.
•
Many homeowners faced foreclosure during the economic crisis.
Synonym: