Looking for the meaning of the word FORECLOSURE in English for both noun and verb forms from the Oxford Dictionary? Below, you can explore all possible meanings and definitions of FORECLOSURE with sentence examples. You can also use the “AUDIO PRONUNCIATION” track to check the correct pronunciation in British English.
Word: Foreclosure
Speech Type: Noun
Audio Pronunciation:
Phonetic Spelling:
fɔːˈkləʊʒə
Dialects: British English
Definition:
the action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments
Short Definition:action of taking possession of mortgaged property when mortgagor fails to keep up their mortgage payments
Examples:- assistance for mortgage borrowers facing foreclosure
- major increases in home foreclosures
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