🏚️foreclosure

noun
/fɔːrˈkloʊʒər/

Meaning

The legal process by which a lender takes control of a property from a borrower who has failed to make payments.

Example Sentences

The family lost their home due to foreclosure after missing several mortgage payments.

Synonyms

repossession, seizure, forfeiture, confiscation

Antonyms

purchase, redemption

Collocations

foreclosure process, home foreclosure, foreclosure notice, avoid foreclosure

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