foreclosure
pronunciation
How to pronounce foreclosure in British English:
UK [fɔ:ˈkləʊʒə(r)]
How to pronounce foreclosure in American English:
US [fɔrˈkloʊʒə(r)]
-
- Noun:
- the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
Word Origin
- foreclosure (n.)
- 1728, from foreclose + -ure.
Example
- 1. Success of the foreclosure rescue is far from certain .
- 2. This then makes them less likely to oppose taxpayer-funded moves to support homeowners facing foreclosure .
- 3. But this varied greatly between states and foreclosure rates explained 90 per cent of the variation .
- 4. Existing subsidies for preventing foreclosure should be redirected towards reducing principal .
- 5. And when house prices are falling , to delay foreclosure means taking a bigger loss .