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Foreclosed: meaning, definitions and examples

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foreclosed

 

[ fɔːrˈkloʊzd ]

Adjective
Context #1 | Adjective

real estate

Foreclosed refers to a process in which a lender takes control of a property after the owner fails to meet the mortgage obligations. This legal action typically occurs after a series of missed payments, resulting in the lender being able to sell the property to recover the owed money. Foreclosed properties are often sold at auction or through real estate sales. The term can also apply to other types of collateral being seized due to defaults.

Synonyms

confiscated, repossessed, seized.

Examples of usage

  • The foreclosed house was sold at a lower price.
  • Many families faced foreclosure during the financial crisis.
  • Investors often seek foreclosed properties for renovation.
  • Foreclosed homes are listed on various real estate websites.

Translations

Translations of the word "foreclosed" in other languages:

🇵🇹 executado

🇮🇳 अधिग्रहीत

🇩🇪 versteigert

🇮🇩 disita

🇺🇦 вилучений

🇵🇱 zajęty

🇯🇵 差し押さえられた

🇫🇷 saisie

🇪🇸 embargado

🇹🇷 el konulan

🇰🇷 압류된

🇸🇦 المصادرة

🇨🇿 zabavený

🇸🇰 zabavený

🇨🇳 被查封的

🇸🇮 izvršen

🇮🇸 fellt

🇰🇿 бұғатталған

🇬🇪 ჩამოსაჭრელი

🇦🇿 müsadir olunmuş

🇲🇽 embargado

Etymology

The term 'foreclosed' is derived from the legal process known as foreclosure, which traces its origins to Middle English 'forclosen', meaning 'to shut out or exclude'. This word is a combination of 'for-', meaning 'outside' or 'away', and 'closen', which comes from the Old English 'clōsan', meaning 'to close'. Over centuries, the practice of foreclosure became formalized in property law, reflecting societal changes in property ownership and lending practices. The concept of seizing property due to unpaid debts has been present since ancient civilizations, but modern foreclosure laws began to take shape in the United States during the 19th century, influenced by economic cycles and the need for lenders to protect their financial investments.

Word Frequency Rank

With rank #17,715, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.