foreclosure

American  

[fawr-kloh-zher, fohr-] / fɔrˈkloʊ ʒər, foʊr- /

noun

Law.

1. the act of foreclosing a mortgage or pledge.

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foreclosure Cultural  

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

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Other Word Forms

• antiforeclosure noun
• nonforeclosure noun

Etymology

Origin of foreclosure

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.”

From Los Angeles Times

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

From Los Angeles Times

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.

From MarketWatch

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

From MarketWatch

Markets seized up as foreclosures rose and buyers of the mortgage bonds realized they couldn’t trust the ratings.

From The Wall Street Journal