foreclosure

[fawr-kloh-zher, fohr-]

noun

Law.

1. the act of foreclosing a mortgage or pledge.

foreclosure

1. A proceeding in which the financer of a mortgage seeks to regain property because the borrower has defaulted on payments.

Other Word Forms

• antiforeclosure noun
• nonforeclosure noun

Word History and Origins

Origin of foreclosure¹

First recorded in 1720–30; foreclose + -ure

Example Sentences

That leaves nearly 58,000 veterans facing increased risk of foreclosure, according to the National Consumer Law Center.

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The law prohibits mortgage servicers from initiating a foreclosure or executing a foreclosure judgment or sale.

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They alleged Findley went so far as to file a fake creditor's claim in California, submit false loan documents in Tennessee, and publish a foreclosure sale notice in a local newspaper.

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Earlier this year, the owners defaulted on their $300-million debt, set to mature in November, and faced foreclosure.

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The looming home foreclosure is not just a narrative device; it’s a symbol of systemic dispossession, of a profit-driven world where communities are expendable.

Read more on Salon