Definition of «foreclosure»

Usage examples

1. The bank initiated foreclosure proceedings on the property due to the owner's failure to make mortgage payments.
2. After months of missed payments, the homeowner received a notice of foreclosure, warning them that they would lose their home.
3. The family moved out of their house after it was sold at a foreclosure auction.
4. Many people struggle to recover financially after going through a foreclosure on their property.
5. The foreclosure crisis in 2008 led to a significant decline in the housing market.
6. The couple managed to avoid foreclosure by negotiating a loan modification with their lender.
7. The bank took possession of the property after the foreclosure process was complete.
8. Investors often look for properties in foreclosure to purchase at a discounted price.
9. The government implemented foreclosure prevention programs to assist homeowners facing financial difficulties.
10. Following the economic downturn, there was a sharp increase in the number of foreclosures across the country.