Foreclosures, also known as repossession, are the legal process by which a lender seizes a property from a borrower who has defaulted on their mortgage. There are several synonyms for foreclosures, including bank repossessions, distressed homes, property seizures, mortgage defaults, and real estate liquidations. These terms are often used interchangeably to describe the same process of a lender taking possession of a property due to non-payment. Foreclosures can have a significant impact on both the borrower and the lender, leading to financial and emotional stress for all parties involved. Understanding the terminology associated with foreclosures can help individuals navigate the complex world of real estate and personal finance.