foreclosed

Meanings

• noun

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

  - "Despite losing her job, she was able to avoid foreclosure with the help of a loan modification."
  - "The bank foreclosed on the property and sold it at auction to recover its losses."

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Synonyms

bar , exclude , prevent , stop

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Rhymes

Words rhyming with foreclosed
closed , enclosed , reclosed

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Variants

List of all variants of foreclosed that leads to same result
foreclose , foreclosed , forecloses , foreclosing

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Etymology

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

Originally meant 'precluded by law' or 'barred by law' from doing something.

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Trivia

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

1. The first recorded use of the term 'foreclosed' in English was in 1587.

2. Foreclosure was once a relatively rare occurrence, but it became much more common during the housing market crash of 2008.

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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 estate or secure a loan against the value of an already-owned property, using the property as collateral.

2. Default: Failure to meet contractual or financial obligations, such as failing to make mortgage payments.

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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.

In literature, 'foreclosed' is sometimes used metaphorically to describe a situation where an opportunity or possibility has been lost or taken away.

How to Memorize "foreclosed"

1. visualize
   

   - Imagine a homeowner being unable to make mortgage payments and the bank taking possession of the property.

2. associate
   

   - Associate the word 'foreclosed' with the idea of a home being taken away due to unpaid debts.

3. mnemonics
   

   - Create a mnemonic using the first letter of each word in 'Failure To Make Payments Equals Foreclosure'.

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