foreclosure
B1CEFR level
45/100Rarity: uncommon
TechnicalRegister
Law noun
A court process by which a lender extinguishes the borrower's interest and takes the mortgaged property.
The bank sought foreclosure once the arrears became hopeless.
Business noun
The legal process by which a lender takes possession of mortgaged property after the borrower defaults.
Falling behind on payments left the family facing foreclosure on their home.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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