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

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

From Los Angeles Times

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.

From BBC

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

From Los Angeles Times

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.

From Salon

This relatively obscure novel by the author of “The Day of the Locust” tells the story of Lemuel Pitkin, a Vermonter who loses his house to foreclosure.

From Salon