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

He also revealed that his Baltimore home was facing foreclosure and would be “sold at auction.”

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The records show her linked to several homes in Elk Grove, including one that went into foreclosure in 2012.

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Though October’s foreclosure activity was still well below historic highs, the overall pattern over the last eight months indicates that an increasing number of homeowners are struggling with their mortgages.

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“This in turn could lead to rising foreclosures; but, again, nothing even close to the magnitude of what we saw in the mid-2000s.”

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From January to June 2007, the news from the pool—its delinquencies, its bankruptcies, its house foreclosures—had remained fairly consistent.

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