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 Words From

• anti·fore·closure noun adjective
• nonfore·closure noun

Word History and Origins

Origin of foreclosure¹

First recorded in 1720–30; foreclose + -ure

Example Sentences

Shortly after becoming attorney general, Harris joined negotiations between various state attorneys general and large mortgage institutions over improper foreclosure practices during the housing market collapse, which had displaced families across the country.

From Los Angeles Times

County has agreed to buy the Gas Company Tower, a prominent office skyscraper in downtown L.A., for $215 million in a foreclosure sale.

From Los Angeles Times

The county of Los Angeles has tentatively agreed to buy the prominent office skyscraper near the historic Millennium Biltmore Hotel for $215 million in a foreclosure sale that could take months to complete.

From Los Angeles Times

The foreclosures stemmed from private loans that Shangri-La took out in addition to the state grants.

From Los Angeles Times

Kevin Spacey has refused to vacate his $5.6-million Baltimore mansion after it was sold in a foreclosure auction, the property’s buyer claims.

From Los Angeles Times