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What does foreclosure mean?

Looking for the meaning or definition of the word foreclosure? Here's what it means.

Noun
  1. (law) the proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments
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At least 16 per cent are delinquent or in foreclosure, and 4.6 percent actually are in foreclosure.
A transaction for which land transfer tax is payable includes a final order of foreclosure under any mortgage or charge affecting land.
Real property was not liable unless it had been specifically mortgaged, in which case the mortgagee had his remedy of foreclosure.
She contacted her lender, which helped her avert foreclosure.
A relative's legal troubles pushed her into foreclosure twice within the last two years.
There is no real risk of anticompetitive foreclosure if competing manufacturers can easily establish their own wholesaling operation.

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