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Definitions from WordNet

Definitions from the Web

Foreclosures

Definition:

Foreclosures, in the context of real estate, refer to the legal process through which a lender seizes and sells a property after the borrower fails to repay the mortgage loan. It is usually a result of the borrower's default on loan payments.

Sample Sentences:

• Thousands of families faced foreclosures due to the economic downturn.
• The bank initiated foreclosure proceedings on the property after the homeowner fell behind on payments.
• Investors often take advantage of foreclosures to purchase properties at significantly discounted prices.
• She managed to save her house from foreclosure by negotiating a loan modification with the bank.

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