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1. Dictionary

   foreclose

   /fɔːˈkləʊz/

   verb

   • 1. take possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments: "the bank was threatening to foreclose on his mortgage"
   • ▪ take away someone's power to redeem (a mortgage) and take possession of the mortgaged property.
   • 2. rule out or prevent (a course of action): "the decision effectively foreclosed any possibility of his early rehabilitation"

   Word Origin Middle English: from Old French forclos, past participle of forclore, from for- ‘out’ (from Latin foras ‘outside’) + clore ‘to close’. The original sense was ‘bar from escaping’, in late Middle English ‘shut out’, and ‘bar from doing something’ (foreclose (sense 2)), hence specifically ‘bar someone from redeeming a mortgage’ (foreclose (sense 1), early 18th century).

   Scrabble Points: 14

   • F

     4

   • O

     1

   • R

     1

   • E

     1

   • C

     3

   • L

     1

   • O

     1

   • S

     1

   • E

     1

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   More definitions, origin and scrabble points
2. • 
     • Foreclosure is a legal process that allows lenders to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property.
     www.investopedia.com/terms/f/foreclosure.asp

     Foreclosure: Definition, Process, & How To Avoid - Investopedia

3. People also ask

   What does foreclosure mean in banking?

   • Foreclosure meaning in banking refers to the legal process a lender uses to repossess a property that was used as collateral for a defaulted loan. Property foreclosure in India involves several types, such as judicial foreclosure, power of sale foreclosure, and strict foreclosure.

   Property Foreclosure in India: What You Need to Know 2024

   www.nobroker.in/blog/property-foreclosure-in-india/

   See all results for this question

   What is a foreclosure & how does it work?

   • Foreclosure is a legal process that allows lenders to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. The foreclosure process varies by state, but in general, lenders try to work with borrowers to get them caught up on payments and avoid foreclosure.

   Foreclosure: Definition, Process, & How To Avoid - Investopedia

   www.investopedia.com/terms/f/foreclosure.asp

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   What do you need to know about foreclosure?

   • Here’s what you need to know. What is foreclosure? Foreclosure is a legal process by which a homeowner forfeits their rights to their property, based on their inability to make monthly mortgage payments (typically when a borrower is more than 120 days delinquent).

   What Is Foreclosure? Definition, Process and Next Steps - Zillow

   www.zillow.com/learn/what-is-a-foreclosure/

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   What is property foreclosure?

   • Property foreclosure refers to the legal process through which a lender reclaims a property from a borrower who has failed to meet their mortgage or loan obligations. This process allows the lender to recover the outstanding debt by selling the property.

   Property Foreclosure in India: What You Need to Know 2024

   www.nobroker.in/blog/property-foreclosure-in-india/

   See all results for this question

4. www.investopedia.com › terms › fForeclosure: Definition, Process, & How To Avoid - Investopedia

   www.investopedia.com › terms › f

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   Mar 28, 2022 · Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of the mortgaged property and selling it.

5. cleartax.in › glossary › foreclosureForeclosure - Definition, What is Foreclosure, Advantages of ...

   cleartax.in › glossary › foreclosure

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   Whenever a property or home is bought by borrowing a loan from a bank or lender, the homeowner needs to repay the loan amount in the specified amount of time. In case, the homeowner fails to repay this amount, the home or property is considered to be in foreclosure.

6. www.zillow.com › learn › what-is-a-foreclosureWhat Is Foreclosure? Definition, Process and Next Steps - Zillow

   www.zillow.com › learn › what-is-a-foreclosure

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   Feb 13, 2018 · Foreclosure is a legal process by which a homeowner forfeits their rights to their property, based on their inability to make monthly mortgage payments (typically when a borrower is more than 120 days delinquent).

7. Videos

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     investopedia.com

     Foreclosure: Definition, Process, Downside, and Ways To Avoid

     29 Apr 2022

   • 

     9:50

     youtube.com

     Understanding The Foreclosure Process and Timeline

     28 Jul 2021

     58.9K views

   • 

     9:10

     youtube.com

     How Does Foreclosure Work in Real Estate?

     19 Aug 2020

     51.5K views

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8. en.wikipedia.org › wiki › ForeclosureForeclosure - Wikipedia

   en.wikipedia.org › wiki › Foreclosure

   • Cached

   Foreclosure by judicial sale, commonly called judicial foreclosure, involves the sale of the mortgaged property under the supervision of a court. The proceeds go first to satisfy the mortgage, then other lien holders, and finally the mortgagor/borrower if any proceeds are left.

9. www.nobroker.in › blog › property-foreclosure-in-indiaProperty Foreclosure in India: What You Need to Know 2024

   www.nobroker.in › blog › property-foreclosure-in-india

   • Cached

   Apr 25, 2024 · Property foreclosure in India involves several types, such as judicial foreclosure, power of sale foreclosure, and strict foreclosure. Understanding these variations is crucial for those dealing with property ownership and legal processes in India.

10. www.forbes.com › advisor › mortgagesForeclosure: What It Is And How It Works? – Forbes Advisor

    www.forbes.com › advisor › mortgages

    • Cached

    May 19, 2022 · A foreclosure is a legal action mortgage lenders use to take control of a property that is in arrears. For borrowers facing foreclosure, there is often uncertainty...

11. www.businessinsider.com › what-is-foreclosureWhat Is a Foreclosure? Process, Prevention, & Resources for ...

    www.businessinsider.com › what-is-foreclosure

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    Jul 22, 2024 · Foreclosure involves a mortgage lender taking possession of your home because you have defaulted on your loan. Usually, this is caused by missing several monthly...