foreclosure

Meanings

• noun

  The legal process by which a lender takes possession of a property from a borrower who has failed to make mortgage payments.

  - "The bank initiated foreclosure proceedings against the homeowner."
  - "Foreclosure is a common cause of homelessness."

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Rhymes

Words rhyming with foreclosure
closure , exposure , endorsement

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Variants

List of all variants of foreclosure that leads to same result
foreclosure , foreclosures

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Etymology

origin and the way in which meanings have changed throughout history.

Derived from the Old French word 'foreclore' meaning to close off, prevent access.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first recorded use of the term 'foreclosure' in English was in the 14th century.

2. Foreclosure rates in the United States peaked during the 2008 financial crisis.

3. In some countries, foreclosure is not a legal process, but instead involves the sale of property to cover debts.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Mortgage: A loan used to buy real property or real estate, secured by the property itself, which is taken back by the lender if the borrower defaults on the loan payments.

2. Bankruptcy: A legal proceeding involving a debtor who cannot pay his or her debts and seeks relief under federal bankruptcy laws.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Foreclosure has been a significant issue in American society, particularly during economic downturns. It has been the subject of numerous novels, films, and documentaries, highlighting the emotional and financial toll it takes on individuals and families.

How to Memorize "foreclosure"

1. visualize
   

   - Imagine a family being forced to leave their home due to foreclosure. Visualize the emotions and the belongings being left behind.

2. associate
   

   - Associate the term 'foreclosure' with the feeling of loss and the struggle to keep up with financial obligations.

3. mnemonics
   

   - Use the mnemonic 'F-O-R-E-C-L-O-S-U-R-E' to remember the meaning: 'Failure Of Regular Employment Causes Loss Of Security And Residence'.

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