WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

	Enter your search terms Submit search form
	Web www.wordnet-online.com

Definitions from the Web

Foreclosure

Part of Speech: Noun

Definition: The legal process by which a mortgage lender takes possession and sells a property when the borrower fails to make mortgage payments.

Sample Sentence 1: The homeowner faced foreclosure after being unable to afford the mortgage payments for several months.

Sample Sentence 2: The bank initiated the foreclosure process to recover the outstanding loan amount.

Part of Speech: Verb

Definition: To take possession and sell a property through the legal process of foreclosure.

Sample Sentence 1: The bank decided to foreclose the property after the borrower's continued default on the loan.

Sample Sentence 2: The lender had no choice but to foreclose on the house and auction it off to recover the debt.