foreclosure
Foreclosure is a legal process where a bank or lender takes control of a property because the owner failed to pay back their loan. It typically ends with the property being sold to pay off the remaining debt.
Exemplos
3 de 5The family had to move out quickly because of a foreclosure on their home.
The family had to move out quickly because of a foreclosure on their home.
The financial institution initiated foreclosure proceedings following six months of missed mortgage payments.
The financial institution initiated foreclosure proceedings following six months of missed mortgage payments.
I heard their place went into foreclosure after he lost his job.
I heard their place went into foreclosure after he lost his job.
Sinônimos
Antônimos
Família de palavras
Dica de memorização
Think of 'Fore' (meaning before) and 'Closure' (meaning to shut). The bank 'shuts the door' on your ownership before you finish paying.
Quiz rápido
After the owner stopped paying the mortgage, the bank sent a ______ notice.
Correto!
A resposta correta é: foreclosure
Exemplos
The family had to move out quickly because of a foreclosure on their home.
everydayThe family had to move out quickly because of a foreclosure on their home.
The financial institution initiated foreclosure proceedings following six months of missed mortgage payments.
formalThe financial institution initiated foreclosure proceedings following six months of missed mortgage payments.
I heard their place went into foreclosure after he lost his job.
informalI heard their place went into foreclosure after he lost his job.
Studies show that foreclosure rates significantly impact the stability of urban neighborhoods.
academicStudies show that foreclosure rates significantly impact the stability of urban neighborhoods.
The company's real estate portfolio suffered due to several commercial foreclosures during the recession.
businessThe company's real estate portfolio suffered due to several commercial foreclosures during the recession.
Sinônimos
Antônimos
Família de palavras
Colocações comuns
Frases Comuns
foreclosure crisis
a period where many people lose their homes at once
in foreclosure
currently going through the legal process of being taken by the bank
foreclosure moratorium
a temporary stop on banks taking homes
Frequentemente confundido com
Eviction is being forced out of a rented property; foreclosure is the bank taking a property that was being purchased with a loan.
Bankruptcy is a general legal status of not being able to pay any debts; foreclosure is specific to real estate loans.
Notas de uso
Foreclosure is almost exclusively used in legal and financial contexts regarding real estate. It is more common in American English than British English, where 'repossession' is more frequent.
Erros comuns
Learners often say the bank 'foreclosed the person,' but the bank 'forecloses ON the property' or 'forecloses ON the owner.'
Dica de memorização
Think of 'Fore' (meaning before) and 'Closure' (meaning to shut). The bank 'shuts the door' on your ownership before you finish paying.
Origem da palavra
From the Old French word 'forclos,' which means to exclude, shut out, or bar from something.
Padrões gramaticais
Contexto cultural
In the United States, the 2008 housing market crash made 'foreclosure' a household word due to the millions of people who lost their homes.
Quiz rápido
After the owner stopped paying the mortgage, the bank sent a ______ notice.
Correto!
A resposta correta é: foreclosure
Vocabulário relacionado
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