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foreclosure

foreclosure

209 7.2
A legal way a lender takes a house when the owner stops paying the loan
  • noun
  • /fɔrˈkloʊʒər/
  • Specialized
translation icon : ejecución hipotecaria
  • The foreclosure is not till December 15th.
  • mortgage foreclosure
  • facing foreclosure
  • foreclosure sale

The Executive Order for the Eviction and Foreclosure crisis reads.

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Examples

  • Your house is going into foreclosure.

  • Now there's a foreclosure sign in the middle of our beautiful, beautiful lawn.

  • Now, this land is already in foreclosure.

  • Their house is in foreclosure.

  • We got a good deal on a foreclosure, so now I'm finding out why.

  • We're expecting to see these when the foreclosure bans end.

  • The foreclosure will be canceled with your reinstatement payment.

  • We've been very patient with you with regard to the Fitzhugh foreclosure, but the bank is ready to sell.

  • The twin effects of foreclosure and fraud rumble far beyond the $10 trillion mortgage industry.

    Academic text (2007)
  • Their house is in foreclosure after they missed several mortgage payments.

Synonyms

repossession
vsforeclosure
  • Specialized
5 6.7

The lender takes back property such as a home or car when the borrower stops paying

is the formal legal process for a lender to take secured property after default
repo
vsforeclosure
  • US
4 6.3

A thing that a lender takes back when payments stop

is the formal legal process for a lender to take secured property after default
dispossession
vsforeclosure
  • Specialized
3 8.2

A legal loss of land, property or other things someone owns

is specifically about lender reclaiming property after loan default rather than any deprivation

Antonyms

34 2.9

Money you return after you borrowed it

redemption
  • Formal
3 6.0

Paying back the original money you borrowed on a loan or bond

How Compelled

forced sale
  • Formal
5.6
foreclosure
  • Specialized
209 7.2
judicial sale
  • Formal
7.7
to auction
53 3.6
private treaty
  • Specialized
7.2

Surface Forms

foreclosure singular
foreclosures plural

Morphology

foreclosure = foreclose (semi-transparent) = fore + close + ure

The noun is a regular nominalization of the verb 'foreclose' by adding '-ure', but 'foreclose' itself is not fully semantically transparent as 'fore' + 'close' for the legal sense.

Etymology

Foreclosure comes from old parts meaning 'completely' (fore-) and 'to close' (close). So a foreclosure is when the bank 'shuts out' the borrower from their home and can take the house.