foreclosure

American  

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

noun

Law.

1. the act of foreclosing a mortgage or pledge.

---

foreclosure Cultural  

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

Etymology

Origin of foreclosure

First recorded in 1720–30; foreclose + -ure

Explanation

When a homeowner can't afford to pay her mortgage, she might face foreclosure, which is when a bank repossesses a borrower's house. A bank most often starts foreclosure proceedings against someone who's taken out a loan to buy a house when that person stops making monthly payments. The agreement a borrower makes when she gets a bank mortgage is that she'll pay a certain amount of money every month, and failing to do it means risking foreclosure. The word foreclosure comes from the Latin words fors, "out," and clore "to shut."

Example Sentences

Arnold Schwarzenegger and Oakland Mayor Ron Dellums, Steyer and Taylor pledged $1 million in loans to support vulnerable people in Oakland facing foreclosure in the wake of the subprime mortgage crisis.

From Los Angeles Times • May 6, 2026

In 2007, rumors of foreclosure against the estate began circulating, but Jackson’s team remained adamant that it was just a refinancing incident.

From MarketWatch • May 5, 2026

But she had to take out a reverse mortgage last year to pay off her back taxes and prevent a pending foreclosure.

From The Wall Street Journal • May 2, 2026

Workers can take a hardship withdrawal to pay for emergencies such as medical expenses, or avoiding foreclosure or eviction.

From MarketWatch • May 1, 2026

If we didn't sell our house, the bank would put it in foreclosure.

From "Americanized" by Sara Saedi