Definition of Foreclosure

a legal process in which a lender takes the property belonging to a borrower, who has stopped making payments to the lender

Examples of Foreclosure in a sentence

Before filing for foreclosure, the lender gave the debtor one last chance to settle the debt.  🔊

Although the homeowner paid several missed payments, it was not enough to stop foreclosure on the estate.  🔊

To stop the foreclosure on my home, I filed for bankruptcy and was able to keep my property.  🔊

Hiring an attorney to stop the foreclosure, the man was able to repay his mortgage while still maintaining his residence.  🔊

When the bank began to threaten foreclosure on their home, the couple knew that they had better start making better financial choices regarding their bills.  🔊

Other words in the Money and Business category:

Most Searched Words (with Video)