foreclosure
Aussprache: [fɔrˈkloʊʒər]
Wort
Kontext: „finance“
(noun) a legal process where a bank or lender takes back a property because someone cannot pay their mortgage. This often happens when someone has trouble making their house payments, and the bank needs to get their money back.
Beispiel
After his financial struggles, he faced foreclosure on his home.
Beispiel
She was relieved that foreclosure did not happen after she found a new job.
Beispiel
What happens to a house in a foreclosure?
Kontext: „real estate“
(noun) the situation where a property is officially taken over by a lender due to unpaid loans. It is often the result of long-term non-payment and can lead to the property being sold.
Beispiel
The foreclosure of that property allowed the bank to recover its investment.
Beispiel
Foreclosure can make it difficult for families to find a new home.
Beispiel
How does foreclosure affect the housing market?
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